Ant's Multimedia Extravaganza! - Homeless in Santa Monica

United Press International
January 12, 2009
COLLEGE PARK "The U.S. economy is in a depression, a University of Maryland economics professor contends.

Professor Peter Morici, a former chief economist at the U.S. International Trade Commission, said the American economy is in a worse condition than a recession, Kiplinger reported in its January issue.

Among other factors, Morici noted 2.6 million payroll jobs have been lost since December 2007, the dollar is falling value and the nation has a big trade deficit with China."

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