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  • Unemployment won't hit Great Depression peaks of 25%, economist Robert Murphy says, because it's unlikely today's government will make the same mistake Hoover made in the 1930s of forcing businesses to maintain wages. Still, with hyperdepression (a mix of hyperinflation and a serious recession) just around the corner, he predicts the economy "will be in the toilet for a decade."  [View news story]
    Unofficial unemployment in Los Angeles is already at 20%.

    The worst is yet to come in Cali.

    Before it's over, yes, unemployment will be 25% or more.

    And there won't be inflation--just deflation.
    Jun 15 12:26 pm |Rating: +1 0
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