Nobel-winner Stiglitz: Poor coronavirus response leaves US on course toward another Great Depression

[DeminPennswoods]

7. The official unemployment rate was 25%

during the Depression, but I'm sure there were many more unemployed than the official statistic. I'm not sure if the unemployment rate counted people who had stopped looking for work or not.

There also was no FDIC to ensure banks remained solvent, no social security, no disability, no medicare, no medicaid, no nothing for anyone to rely on except themselves and the generosity of others.

Right now, people are working and those not working are getting income, even if limited.