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Those all come from 1930-1931. You can draw your own conclusions, concoct your own concerns, or shrug your own shoulders. If you want to see more optimistic headlines from those scary years, go here.
Aside: On September 14, 2008, Donald Luskin firmly discredited himself forever: The article goes on to deny the Housing slump, misreads the debt markets, recommends equities, states that bank capital was more than sufficient, looked at employment trends as proof there was no recession, applauds economic growth levels, decried the use of the terms crisis” and “meltdown” — and gets every single one exactly wrong. Luskin, incidentally, hates Peter Schiff. From what I hear, he hates Schiff as only a thoroughly embittered embarrassed man can hate.
September 16th, 2009 at 11:38 am
The Cash for Clunkers program artificially pumped up July/August, and is no longer available. The housing incentive program ends in November. And the recent stock market mini-bubble with nothing that it’s based on will soon burst. Oil continues to fluctuate between $65-75/barrel, and will break past $85 before year’s end, causing another inflation trigger. Unemployment will either stay at it’s current level or dip slightly for September as college kids get out of the job searching market and head back to school. But October or November will see the national rate break the double-digit mark as few retailers hire help for the holiday season. FUN TIMES AHEAD!!!