No Great Depression 2.0

[Neubarth]

Don't we have higher job loss counts than during the great depression?

Not if we believe the corrupt government numbers.

 

[uscitizen]

In the depression, the unemployment rate reached 25 percent. We haven't had nearly the number of bank failures this time that we did in 1929.

do we still figure unemployment the same way as during the great depression?

I doubt that we do.

 

[pinqy]

In the depression, the unemployment rate reached 25 percent. We haven't had nearly the number of bank failures this time that we did in 1929.

do we still figure unemployment the same way as during the great depression?

I doubt that we do.

We didn't really count unemployment during the depression. The survey didn't start until 1941. There were attempts by using the census in 1930 and a postcard census in 1936 but there was no coherent definition. The official numbers for the depression were calculated in 1948 and the definition is pretty much what it is today. It would be off by no more than 1 or 2 percentage points.

 

[Toro]

In the depression, the unemployment rate reached 25 percent. We haven't had nearly the number of bank failures this time that we did in 1929.

do we still figure unemployment the same way as during the great depression?

I doubt that we do.

We didn't really count unemployment during the depression. The survey didn't start until 1941. There were attempts by using the census in 1930 and a postcard census in 1936 but there was no coherent definition. The official numbers for the depression were calculated in 1948 and the definition is pretty much what it is today. It would be off by no more than 1 or 2 percentage points.

Michael Darda of MKM Partners estimated that if you used the U-6 methodology, i.e. the one that says the unemployment rate is 17% today, 44% of people would have been unemployed at the height of the Great Depression.

 

[Big Fitz]

The rate of job loss is nowhere near the rate during the Depression.

1929 Versus 2007: Employment Change | The Big Picture

So that's including even discouraged workers? Sounds to me like this is a tad misleading.

 

[Big Fitz]

Don't we have higher job loss counts than during the great depression?

as a total number yes. But as a percentage of populace not quite yet.

But we haven't hit the double dip aspect of this yet when the costs for P-BO's "solutions" kick in and the National Deathcare and Crap and Tax kick in. We still haven't felt the effects from the 2006 energy policy yet. That's going to be bad enough. We're in a suckers rally and have yet to find bottom.

Remember, the government is artificially inflating housing and auto sales. Once this ends, these markets WILL collapse till a true bottom has been found, and then they will start to rise again.

 

[pinqy]

The rate of job loss is nowhere near the rate during the Depression.

1929 Versus 2007: Employment Change | The Big Picture

So that's including even discouraged workers? Sounds to me like this is a tad misleading.

No, the job loss chart is from the establishment survey...it's the net change of non-farm payroll jobs. It's not a measure of unemployment.

 

[Neubarth]

The fact remains that our real job loss now is as bad as that of the Great Depression. Obama's crooks in the Department of Labor lie like hell about it, but we can see the horrific malaise that has swept the nation. The riots will start in the next few months.

Get your guns and lot s of ammo, because you will have to defend your home and family from the thieves. Shoot first and ask questions later.

 

[Neubarth]

Michael Darda of MKM Partners estimated that if you used the U-6 methodology, i.e. the one that says the unemployment rate is 17% today, 44% of people would have been unemployed at the height of the Great Depression.

The Great Depression was not THAT bad. My father born in 1909 went through medical school during the great depression. His father a vaudevillian who was out of work because of the talking movie craze helped pay the way by working as a tailor for Hart Scheffner and Marx, a Jewish clothing company of some respect. They were hiring good tailors all the way through the Depression.

Almost everybody in the northside neighborhood (1128 Oakdale Avenue. Their neighbor was Johnny Weismuller.) where they lived in Chicago had their jobs all the way through the Depression. For the most part, the people who lost jobs were in the banks and farms that failed and the average twenty percent cut backs in industry that we experienced. Those laid off workers were a big number, but not forty percent of the population.

 

[Truthmatters]

Gosh, when the lefties were screaming at election time we were in a recession which was going to become a depression of depression era proportions they were WRONG. Just like they're WRONG about everything.

But never fear, their policies may yet make their dreams come true.

It was Bush who stood in front of the country and said that if we dont bail out the banks NOW we will be in a depression soon.

You live in a fantasy world build on lies.

 

[Big Fitz]

The Great Depression was not THAT bad.

This depended on a few factors:

1. What region of the nation you lived in? Some were hit much harder
2. Did you have a job? If not a job, a skill that could be used to make money

If you had one of these, you were fine, but it was hard. My grandparents and a few of my neighbors had both of these things going for them, thanks to the paper industry and sound farm land, unlike the dust bowl states.

If you had onlly one of these, things got REAL tight and very close to the bone. Often one small disaster became devestating because you had no way to insulate yourself from shocks. I admit that many laborers got short term jobs in WPA projects, but that money as far as I'm concerned pales in comparison to what could have been done with it in private hands. Don't get me wrong, the TVA and Hoover Dam and Golden Gate are fabulous projects to be sure. They brought dividends down the line. The difference is one of paying 300% of the sticker price under government control versus a 10% discount in private hands.

There are sections of this nation, most poignently, Detroit, that are at full on depression levels with 30ish percent unemployment. But bad unemployment been a problem for the last 20 years, and will continue to be till they vote out the libs running the show there.

 

[rdean]

No Great Depression 2.0

Oh there's a Great Depression all right. It's among Republicans. They want this president brought down so bad, they are willing to see the country fail so that it happens. They can't admit not even the smallest positive thing about Obama. I suspect many actually pray something happens to him.

We all know I'm right.

 

[Big Fitz]

>Cough< Whatabout 8 years of "selected not elected" libs? >cough<

Cram your hypocrisy.

 

[Big Fitz]

They can't admit not even the smallest positive thing about Obama.

He didn't prosecute immedeately the seal team that saved the captain of the MAERSK Alabama for killing Somali Pirates.

There. Something good. I was willing to credit him for the decision, till I found out he abdicated that to the commanders on the water there. Wish I could... but sorry man. You side stepped it.

OLE!!!!

 

[smithfix]

Hey Neubarth! SHHHH! Damn it, if you convivce the idiots they will begin to prepare and the price of silver will rise and I won't own them after the crash!
Please believe that Obama knows how to save us all. He is right, we can spend our way out of debt, government healthcare will not increase the deficit and global warming can be stopped if we give enough money to the non-white (read that STUPID) nations.
Go back to sleep. Don't let Neubarth scare you! He is obviosly a racist, sexest, homophobe hung up on "FACTS". We know what our government school teachers told us, don't we. Sleep,sleep,sleep.

 

[Neubarth]

Hey Neubarth! SHHHH! Damn it, if you convivce the idiots they will begin to prepare and the price of silver will rise and I won't own them after the crash!
Please believe that Obama knows how to save us all. He is right, we can spend our way out of debt, government healthcare will not increase the deficit and global warming can be stopped if we give enough money to the non-white (read that STUPID) nations.
Go back to sleep. Don't let Neubarth scare you! He is obviosly a racist, sexest, homophobe hung up on "FACTS". We know what our government school teachers told us, don't we. Sleep,sleep,sleep.

I'll try to tone it down there podner. My only concern is that people who are hardworking will lose more of their life savings when people finally realize that there is no economic recovery and the stock market crashes for a second time.

I tried to warn so many people in 2007, and they went blissfully along their way putting more and more of their lifesavings into their mutual funds in their IRA's and 401K's, thinking that stocks were good investments. When I pointed out to them that most stocks are worthless investments when a company goes into BK, they just did not believe it. Many people that I know lost a substantial portion of their life savings. Now they are being suckered in again. I even had one yesterday try to tell me that Ford was a very solid investment. He was putting half his money into Ford Stock, saying that it was a patriotic thing to do because it showed faith in the American worker. I did not tell him that it showed the gullibility of the American investors who like to lose all of their savings just before they retire.

So be it. Some will just not listen.