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To: mkjessup

Measures of U3 and U6 (7.2% and 13.6% today, respectively) were no higher in Dec 1929 than they are now - maybe a quarter or half %% point higher or lower based on methodology.

I don’t think at all that we’re headed for GD2, but comparing the beginning of this crisis (4 months after the crisis exploded) to the absolute depths of other crises (12-36 months after the crisis) isn’t very useful or convicing.


70 posted on 01/09/2009 8:35:43 AM PST by sanchmo
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To: sanchmo

There was no U6 in 1929—thats was a Clinton invention. In 1929, anyone who wanted a job but didn’t have one was unemployed.


119 posted on 01/09/2009 8:53:48 PM PST by rb22982
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