Quote from: RE on Jul 04, 2024, 01:11 AMCloser to 95, since the Great Depression didn't start until around 1930. The stock market crashed in 1929, but the Depression took a little while to really get rolling. Also, just because none have been as bad since doesn't mean this one won't be WORSE than the GD. There was tons of oil in the ground ready to dig up and do a reboot after WWII. This time, after WWIII finishes, nothing left to kick start with. An endless, eternal Depression, and Age of Darkness. The Grapes of Wrath will seem like a Picnic by comparison.
https://finbold.com/brace-for-the-worst-recession-in-100-years-warns-wall-street-expert/
RE
That article was written from the point of view of this is what we want to say so lets cherry pick. A serious reader will spot the bullshit. But the author does not care about serious readers any more than the blunderbuss of Nigerian email scams do. It is all about volume and hooking a fish. The author starts with
Quoteinterest rates – which usually decelerate economic activity – have remained high for far longer than expected.
But:
The average 30-year fixed rate reached an all-time record low of 2.65% in January 2021 before surging to 7.79% in October 2023. In 2024 so mortgage rates have been hovering close to the 7% mark. In the '80s, the interest rate was 13%!" Mortgage rates were 18.63% in October 1981. Today's mortgage rates are on par with what homeowners have paid in the past.
This nimrod thinks the post-bailout economy is normal.