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Good call Jamo, in keeping with that, let's look at the numbers a little closer.
The "real" unemployment rate is estimated to be, right now, 17.5%. The "actual" number is something like 10%, a slight decline this month. In December of 1982, Reagan year, it was 17.1%. If we had data going back to the Great Depression these numbers would likely be equal or greater than what we had at that time.
I recall some of the economists stating that if we could hold unemployment at the 10% actual number we could turn things around. IF umemployment exceeded 10% it would be catastrophic and deeply problematic for a "recovery". Were right on the edge...
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