Quote:
Originally Posted by GAMEFINEST
After the holidays, I sense a huge slowdown coming...  |
Many parallels to the early 1930s ... more to the point, most people are familiar with the Oct-1929 stock market crash, but what most don't realize is that the nadir (lowest point) for the U.S. stock market, and the economy as a whole, came nearly 3 years later in July-1932...
For those touting "recovery", note that it took well into the 1950s for many caught up in the Great Depression. Not many people are prepared to wait out a 25 year economic slump.
The true, as in reality, unemployment rate is more around 20%.
And of those working, many are earning less than in the past while prices on consumables (food, gas, healthcare, etc) and taxes continue to increase.
Bottom line, barring some major global changes (ie. drought, pandemic, WWIII, etc), there's going to be little, or even negative, economic growth going forward for the foreseeable future. Read up on the Great Depression, and that gives one clues as to what businesses / strategies to pursue.
Ron