Is the DPRESSION HERE?????
Gannett 1Q classified ad revs DROP 46.5%
U.S. continuing jobless claims rise 172,000 to 6.02 million
U.S. housing starts down 48% in past year; permits down 45%
General Growth Properties files for bankruptcy protection
Harley-Davidson sees more job cuts
Alstry gets a lot of heat for his 30-50% unemployment prediction. When he started blogging, published unemployment rates were at about 6% and now they are over 16% per the Department of Labor U6 figures.
In the just past few days.....from the closing of GM dealerships, to BestBuy, to Michelin Tire, to Harley Davidson, to LA School Teachers and more.......we are looking at tens of thousands of people losing their jobs in upcoming months on top of the millions that have lost their jobs in the past few months........and these are job losses from a handful of companies that we know about.
My question to CAPS members.....at what unemployment rate will our nation start to face some serious social and economic consequences? 20%......25%........30%.................35%??????