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Strategies & Market Trends : The coming US dollar crisis
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To: gregor_us who wrote (23650)10/21/2009 12:42:26 PM
From: Wyätt Gwyön2 Recommendations  Read Replies (1) of 71406
 
let's face it, the level of desperation back then was much worse than now. i've seen those 37% figures, but i think by today's standards practically the entire population was U-6 in the Dep*rssion. then, people were worried about eating. somebody who was a banker might become a day laborer or pick fruit. now, somebody who was an engineer might go to work at Home Depot or Starbucks and be captured by U-6. if you had the equivalent of a Home Depot or SBUX job back then you would be considered gainfully employed. i don't see a lot of middle-aged engineers riding in the backs of pickups with Mexican day laborers these days. the level of compromise people made back then is a whole nuther dimension.
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