We are in a recession - - - NOT in the Great Depression!
What Happened in The Great Depression:
744 US Banks failed in the first 10 months of 1930 (over the term of TGD over 9000 banks failed)
Unemployment Rate:
1930 - 8.9%
1931 - 15.9%
1932 - 23.6%
1933 - 24.9%
DOW Index Down 90% from late 1929 - 1932
What Happened in 2008
15 US banks failed in first 10 months of 2008
Unemployment Rate
2006 - 4.6%
2007 - 4.6%
thru September 2008 - 6.1%
Dow Index Down 29% from January 2008