Folly , unemployment numbers now are still worse than the great depression , there are currently , at least 6 people available for ea job , then , it was five , it will never , get better without drastic spending cuts , which will not happen in my opinion.
Last edited by oyarde; 03-20-2012 at 11:54 PM.
Cramer was extremely bullish on equities tonite and was just plain telling everyone watching to go long on everything.
That's usually a contra indicator for me but it's an election year and the Fed will print to keep things afloat and keep the markets looking good or at least stagnant until the next administration takes over (Obama or not). Then the Fed can threaten the next administration if they don't appoint who the bankers want as Chairman. I don't see any bubbles being allowed to burst till January. Then it's on the new administration's hands anyway and the next bubble to burst will be massive. Whether it's bonds or equities won't matter and Ill still be happy with my PMs.
Last edited by devil21; 03-21-2012 at 01:35 AM.
"Let it not be said that we did nothing." - Ron Paul
"Always give your best, never get discouraged, never be petty; always remember, others may hate you, but those who hate you don't win unless you hate them, and then you destroy yourself. " - Nixon
Why most RPF members are against the US involvement with Israel explained by Mini-Me:
No anti-semitism, just logic.
Visiting the Outer Banks of NC?
Outer Banks Fishing Boat Rentals
Another number to compare:
It probably does not need to be pointed out that the population of the US today is much larger than it was in the 1930's.The number of people affected at the peak of the depression was 13.5 million unemployed vs today's official number of 11.6 million.
A frequent meme propounded in the economic blogosphere is that U6 unemployment, running near 17% now, is a truer measure (and there are good reasons to believe it is), so that means we have unemployment already approaching Great Depression levels of 25%. Left out of the comparison is the fact that U3 and U6 measurements didn't exist during the 1930s. So, is the 25% unemployment peak for the Great Depression a fair comparison to U6 unemployment today?
N. Andrews compared historical versions of unemployment statistics with the modern U3 and U6 versions, published as "Historical Unemployment in Relationship to Today" , has an answer. He writes:
For the period of 1900 - 1947 we have two unemployment statistics available, Unemployed Non-Farm employees and Unemployed Civilian Workforce. These two data sets pose a challenge as they were developed during a period of ever-changing data collection methodologies. The data in the sets has been adjusted by the sources listed in Bicentennial Edition: Historical Statistics of the United States, Colonial Times to 1970 in an attempt to sync the data sets with the methodology that was put in place as of 1940 and was the basis for methodologies since. We can compare the two available data sets ... and we see that the Unemployed Non-Farm employees and Unemployed Civilian Workforce measures of unemployment appear to be a close analogue of modern U3 (Unemployed Civilian Workforce) and U6 (Non-Farm employees).
Based on that research, he was able to generate a mathematical formula to calculate U3 and U6 unemployment for the entire period since 1900. He found that at the peak of the Great Depression, U3 was 25.2%. U6 was 37.6%.
Here's the resulting graph:
Last edited by Zippyjuan; 03-21-2012 at 02:46 AM.
Freedom is a state of mind. Nobody can take that from you unless you let them.
Bernanke`s still saying printing is in the cards for this year because he wants market to believe it, but that`s about it.
Last edited by JuicyG; 03-21-2012 at 02:56 AM.
Let`s get Ron Paul into top 10 to generate headlines. We need more people.
"What does not kill me, makes me stronger."
- Friedrich Nietzsche, philosopher (1844-1900), Twilight of the Idols
"All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident."
- Arthur Schopenhauer, philosopher (1788 - 1860)
Well, it looks like the drop is right on schedule...
"Power tends to corrupt, and absolute power corrupts absolutely." - Lord Acton
"Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
"Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety." - Benjamin Franklin
"Beware the Military-Industrial-Financial-Corporate-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
"Government is not the solution to our problem; government is the problem." - Ronald Reagan
"The only thing we have to fear is fear itself, and we must reject those who spread fear." - B4L update of FDR
"The Ministry of Truth can turn on a dime, and the fury of the ignorant masses can be redirected at will." - B4L
"Marxists become Fascists the minute they become rich, yet they retain the Marxist rhetoric." - B4L
"Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
"Thing is, the world is full of a**holes." - ACPTulsa