So what does it all mean?
I passionately hope, of course, that economic conditions improve and that unemployment declines.
I hope that my assessments are proven overly pessimistic, and the economy recovers quickly.
But people forget that there was a huge rally after the initial 1929 crash, before the bigger second wave down of the Great Depression hit.
People forget that unemployment did not hit 25% until the fourth year of the Great Depression.
Former International Monetary Fund Chief Economist and Harvard University Economics Professor Kenneth Rogoff and University of Maryland Economics Professor Carmen Reinhart forecast in February that unemployment could reach 22% within 4 years.
So while I hope and pray that unemployment numbers get better, they could get much worse.(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).
