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Politics : Formerly About Advanced Micro Devices

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To: Road Walker who wrote (450591)	1/25/2009 12:21:46 PM
From: Rarebird	Read Replies (1) of 1573994

<<The UNEMPLOYMENT rate is sky rocketing, and with each lost job there is a better than 50% chance of mortgage and credit card defaults. This IS NOT a plain vanilla recession.>> "Great Depression jobs parallel may not be far flung": "Figures collected for Reuters by John Williams, from the electronic newsletter Shadowstats.com, suggest that, while we are not there yet, the comparison is not as outlandish as it might initially seem. By his count, if unemployment were still tallied the way it was in the 1930s, today's jobless rate would be closer to 16.5 percent -- more than double the stated rate. "I expect that unemployment in the current downturn, which will be particularly deep and protracted, eventually will rival, if not top, the 25 percent seen in the Great Depression," Williams said. reuters.com

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