Originally Posted by pugman
As I told my wife...this could be the pebble which starts the avalanche but my crystal ball says we have somewhere between 2-5 years before things really get bad.
I agree with what you say. It will take time for it to unfold and for it to sink in or affect the average person. It will be a slow motion decline. And unemployment could get into mid teens.
Here is an interesting chart comparing the 1930's to now.
The only thing is, I'm a little skeptical that the market and economic recovery is going to be the same as the very late '30's recovery was. Remember, by that time we were quietly gearing up for war not just for our armies but, for sale of weaponry to Britain which helped kick up "real product" sales and job creation. I don't, at this point, see anything similar on our or the world's horizon over the next few years.