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Agreed. Once unemployment hits 25%, we'll be in the great depression territory (we might be there already) Broader Unemployment Rate Hit 16.5% in June http:/
by stuffthatmatter 17y ago
Agreed. Once unemployment hits 25%, we'll be in the great depression territory (we might be there already)
Broader Unemployment Rate Hit 16.5% in June
http://blogs.wsj.com/economics/2009/07/02/broader-unemployment-rate-hit-165-in-june/ http://blogs.wsj.com/economics/2009/07/02/broader-unemployme...
- deleted 17y ago[deleted]
- BrentRitterbeck 17y agoI have a background in finance. I know about the current methodologies for counting unemployment and any other economic indicator. I think you can only safely say we are in Great Depression territory when you start to see food lines.
- stuffthatmatter 17y agoactually it's already happening: Southwest Florida food pantries in need as supplies run low http://www.naplesnews.com/news/2009/jul/02/southwest-florida-food-pantries-need-supplies-run-/ http://www.naplesnews.com/news/2009/jul/02/southwest-florida... Sacramento police are shutting down a new homeless tent city http://www.capradio.org/articles/articledetail.aspx?articleid=6850 http://www.capradio.org/articles/articledetail.aspx?articlei...
- BrentRitterbeck 17y agoThere's always evidence to support a view if you are willing to look hard enough, but one or two instances are not enough to support the claim that we are in a situation similar to the Great Depression. For those who take things a little too literally, perhaps I should have wrote: "... when you start to see food lines all over the country/world."
- stuffthatmatter 17y agoGoogle 'food bank shortage' and 'tent city' yourself; there are many mentions in many different parts of countries. Los Angeles, Texas, New York, etc etc.
- nostrademons 17y agoThey didn't have Google in the 1930s.
- philwelch 17y agoSeattle ran out a tent city a few years ago, in the midst of the economic boom. There's always going to be homeless people.
- stuffthatmatter 17y agoActually, there's something that could happen....hyperinflation. That occurs when people lose faith in the currency, and the dollar's worth crashes (People doubt US's ability to pay back its debt)
- dan_the_welder 17y agoWould that primarily affect imported goods and in effect boost the US internal economy at the expense of the import economy?
- stuffthatmatter 17y agowell, if we have hyperinflation, it would crash the internal economy, since everything we do depends on oil in this country, and oil price would skyrocket
- gojomo 17y agoYour description of the 'discouraged' category is incorrect; it has nothing to do with the length of time someone is unemployed, but whether they give up looking.
- eru 17y agoHowever that correlates positively for a lot of people.