I don't think anyone is worrying about a depression based on the _current_ unemployment number. The concern is that things are going to get much worse because o

I don't think anyone is worrying about a depression based on the _current_ unemployment number. The concern is that things are going to get much worse because of frozen credit markets, nationalized banks, globalized finance, trade deficits, a worldwide demand slump, a weirdly-behaving dollar, and, most importantly, the fact that interest rates are at zero so we don't have any normal macroeconomic tools left.