Shiller says morale is sinking

The noted Yale economist says that unemployment has reached the point where government needs to employ FDR-type job creation programs in an effort to get more people on the rolls, even on a temporary basis. "A lot of people are getting resentful that they're being forgotten," he tells the WSJ. He also says that the chances of a double-dip recession are greater than 50 percent, with the third quarter perhaps being the point at which the economy begins to contract.