Quote:
Originally Posted by M3Bahn
It's official: The housing crisis that began in 2006 and has recently entered a double dip is now worse than the Great Depression.
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For the housing market sure. That's a simple supply/demand equation. Surplus of housing, shortage of demand. Not mind blowing, don't let some sensationalist headlines get to you.
Employment and GDP (PPP) are far more accurate economic metrics. 2010 IMF and Worldfact Book both put the US #1 overall in GDP (PPP). When we're experiencing prolonged 30% unemployment (factoring in estimates for those not seen as unemployed by the employment rate such as disgruntled workers) and severely deflated GDP per capita, talk to me about the Great Depression.