Financial Times FT.com

Households face ‘perfect storm’

By James Politi and Krishna Guha in Washington

Published: October 9 2008 21:30 | Last updated: October 9 2008 21:30

When Fred Thompson, the former senator and star of the Law & Order television series, took the stage at the Republican convention on September 2, he attacked Democrats for being too gloomy about America’s economy.

“Listening to them, you’d think that we were in the middle of a Great Depression,” Mr Thompson said. The delegates laughed.

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