One more thing...
Something else I just wanted to point out before I called it a day.
You might be hearing about how bad thing are in terms of unemployment. One thing to remember is this. While it is true that there are as many layoffs as there were in 1974, as a percentage of our current population and especially our current workforce, this is again fairly mundane. Sad yes, economically terrible, not really.
Keep in mind that in the late 70's and into the 80's, unemployment was at or above 15%, and the interest rate was approaching or in the 20%'s, and the inflation rate was terrible as well, ask your parents what they payed for their interest rate on their mortgages in the 1970's or 80's if this applies for you.
When things get as bad as this, I will cease being a Recessicaust denier.
You might be hearing about how bad thing are in terms of unemployment. One thing to remember is this. While it is true that there are as many layoffs as there were in 1974, as a percentage of our current population and especially our current workforce, this is again fairly mundane. Sad yes, economically terrible, not really.
Keep in mind that in the late 70's and into the 80's, unemployment was at or above 15%, and the interest rate was approaching or in the 20%'s, and the inflation rate was terrible as well, ask your parents what they payed for their interest rate on their mortgages in the 1970's or 80's if this applies for you.
When things get as bad as this, I will cease being a Recessicaust denier.