September marks the beginning of autumn — and the anniversary of the 2008 benchmark bankruptcy of Lehman Brothers. Following the investment house’s failure came what’s commonly called “the worst financial crisis since the Great Depression” — the global financial crash and resulting severe recession.
But we continue to see confirmation the two economic eras remain different. Last year, the Dow Jones industrial average reached 13,000 for the first time since 2008. This year, it surpassed 15,000. Nevertheless, unemployment remains high, reflected in the Federal Reserve’s generally unexpected announcement to keep interest rates low.