Quote:
Originally Posted by classicman
I must have missed where you answered my question about the default rates and jobless percentages in '29 compared to today?
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Obviously we are not at the 80% drop of the stock market, the 50% mortgage default, the 25% unemployment rate, etc. That was his point. All those factors in 1929 - and we were currently on the same path for all those adverse numbers. Did I say the stock market had hit the bottom yet? Obviously not.
His projection using 1929 suggests how much worse things could get.