The point here is that things are not awesome, but we are not near the Great Depression. Let's just have a little perspective. Things could get worse, but we aren't there yet. Let's get back to the 'bad ole days' of 79 and 80 before we start going back to the 20s.
1979
Unemployment: 6.0%
Real GDP Growth: Q1: .78% Q2: .38% Q3: 2.88% Q4: 1.18%
Inflation: 10.75%
Home Mortgage Rates (prime): 11.5%-15.5% (with a peak of 21.5% in Dec 1980)
2008
Unemployment: 6.1% (in August - the peak to date)
Read GDP Growth (to date): Q1: .87% Q2: 3.24%
Inflation: Peak of 5.85% in August, Currently at or near 5%
Home Mortgage Rates (prime): 6.5% - 5%
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