More Evidence Great Depression II Is Here: 30mm Unemployed in U.S. (19% of workforce)

One other thing - dozens of replies in this thread, most constructive, a few immaterial or childish.

But as of yet, no one has specifically responded to the core issue of the relevance of a 19%, throng of 30 million unemployed in this country.

Does anyone have reason to contest this figure?

It is approaching the rough estimate of 25% UE during the Great Depression.

Does anyone think it doesn't go higher from here? Significantly higher?
 
You forgot Peak Fish

:D

Quote from Misthos:

There is a convergence of peaks forming and they will change how we live.

1) Peak Oil

2) Peak Credit

3) Peak Entitlements

4) Peak Employment

Some problems do not have solutions, just inferior substitutions.
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Quote from Kassz007:

This is laughable. I can't believe some people actually believe it will get this bad. Think of other economies around the world that have declined/collapsed (think Russia). Times get tough but by no means does it become a third world country...

The very idea that some bears think the USA will turn into a third world country overnight because of this recession literally makes me laugh out loud.
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a large number of people who live in major cities in the US are completely lacking in skills. they r on welfare or are in gov't jobs which require little skills and are woefully overpaid compared to the private sector.

the US will not turn into a third world country overnite . never heard anybody make that claim. the process will take time but there will be a tipping point with hindsight.
 
Quote from makloda:

Seriously, you need to lay off the tinfoil hat.

Have you ever been to the US? It's a pretty damn good place to live in -- minus the taxes and crime. The cost of living is low, the standard of living is very high. The availability of high quality products and services is phenomenal and unmatched. If the US had an expat tax regime like the UK or Switzerland I'd have moved to the US a long time ago.
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You don't even live in the US. Your experience of USA is obviously from tourist areas. Let me guess, Disneyland & Disneyworld.

You're clueless, thanks for confirming that. Low cost of living & very high standard of living? LOL! Not for the average folks.
 
Ivanovich
Moderator*

Registered: Oct 2004
Posts: 6937


New Post 08-11-09 01:38 PM

Quote from fkbsuhites:


Obama has done a fine job of postponing the Bush depression.



I had to edit this for what I believe will be reality.

--------------------------------------------------------

the poster was right. obama has postponed the inevitable. obama's measures will make the cure for the depression more lengthy and more painful. and will result in a dictatorship in the US.
 
Quote from Anaconda:

You don't even live in the US. Your experience of USA is obviously from tourist areas. Let me guess, Disneyland & Disneyworld.

You're clueless, thanks for confirming that. Low cost of living & very high standard of living? LOL! Not for the average folks.
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You don't think Americans have a high standard of living when compared to the rest of the world??
 
Quote from zdreg:

a large number of people who live in major cities in the US are completely lacking in skills. they r on welfare or are in gov't jobs which require little skills and are woefully overpaid compared to the private sector.

the US will not turn into a third world country overnite . never heard anybody make that claim. the process will take time but there will be a tipping point with hindsight.
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It will take more than a few years to bring down the worlds largest economy.

Funny how all the depression and armageddon talk ramps up on red days.
 
Quote from Ivanovich:

You don't think Americans have a high standard of living when compared to the rest of the world??
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Michigan is a dump and clearly skews the thinking of those who live there.
 
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