bigqueue

Stop Calling This a Depression

The great depression took about 3 years to get to 25% unemployment and a low in the stock market....something like the third quarter of 1932. (we think og the crash of '29 as the start)

So we are just perhaps at the beginning of a longer slide like back in '29......heck, the market had several rallies in that 20-32 time period.....in fact, I think the great depresison was technically something like two longer recessions...not exactly one long session.

Still....the sum total of pain was there. Perhaps we are just beginning the process. (let's hope not)