As economist Victor Zarnowitz of the University of Chicago argued many years ago, the strength of the recovery is related to the depth of the recession.
So let us work together for the worldwide reduction of interest rates and a scale of stimulus round the world equal to the depth of the recession and the dimensions of the recovery we must make.
The Reds' efforts in beating Chelsea on Sunday appeared to have taken an energy-sapping affect and the draw ended Liverpool's run of three consecutive league wins, while showing the delicate nature of their recovery as well as a lack of depth to their squad.
This I think gives you a sense -- and some of you have seen this when we did briefings on the Recovery Act -- this gives you a sense of the genuine depth that we're in in terms of employment.