Monday, December 30, 2013

Monday, 30 December 1929: German Unemployment Hits 2 Million

Germany:  More bad economic news: reports indicate that unemployment, at 2 million, is up 82% from a year ago, an increase of 900,000.  Most of the unemployed – 1.4 million -- receive some form of government assistance, draining the government’s finances.

United States:  More impact from the economic downturn: American funds invested abroad are down 22 percent from prior year.  American investment in places like Germany is declining right when they need it most.  

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