Everyone keeps talking about how the Great Depression had unemployment rates of 25%. That's true - but that didn't occur until 1933. The unemployment rate in 1929 was around 7.5% - pretty much where we are currently.
Let's see where unemployment sits four years from now and then compare notes...
The Great Depression was “Great” because unemployment was still at 20% in 1939.
If Obama is intent on bailing out the auto manufacturers and conjuring up a bunch of make-work projects, then we just might repeat the economic performance of the 30s...
Everyone keeps talking about how the Great Depression had unemployment rates of 25%. That’s true - but that didn’t occur until 1933. The unemployment rate in 1929 was around 7.5% - pretty much where we are currently.
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Metal prices have already fallen more in the last 4 months than they did from 1929 until the bottom in 1933... that means NOBODY is buying for manufacturing ,, not the USA ,, not China ,, not Russia ,, nobody...
If John Williams at Shadowstats is anything near to being correct unemployment is currently closer to 14%:
http://www.shadowstats.com/alternate_data