If it's a recession when your neighbor loses his job, and a depression when you lose yours, the depression just ended for the McArdle-Suderman household.  Peter has accepted a Koch fellowship* to work at Reason for the next eleven months, and today's his first day.

Oddly, the stock market does not seem to have gotten the message that the depression is over.  So I thought this blog post might help.

*  Yes, that Koch.  No, I had no idea when I wrote about them that he would be applying for a fellowship.  We both thought he'd have a job by now.  But journalism seems second only to auto manufacturing in job losses during this recession; by our count, about 20% of our friends have lost jobs in the last six months.

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