Apr 13th Speaker

   Debby Parker isn't making predictions about the current recession, but she says we're now 15 months into this one, and no recession since World War II has lasted more than 18 months. "Eighty percent of economists say that by year's end we'll be out of the recession," she told club members Monday.

   Debby, who manages a local Edward Jones investment firm, said she's learned a lot by studying the history of the Great Depression and the 11 recessions that have followed, and while this one has been cause for concern, it is nothing like the Depression of the 30's. President Hoover believed in a completely free market, and his policies gave rise to "Hoovervilles," a name given to huge camps for the homeless. There was no FDIC insurance and no unemployment insurance for those who lost jobs. And the unemployment rate was 30%, as opposed to 8 to 10% today.

   Debby said she dislikes high deficits and government becoming involved in business, but she dislikes failures more. "The biggest mistake is to take no action at all," she said.