Holy sh**t some of you are optimistic. Are you batsh**t insane or just hopelessly desperate?
I don't think I can give a number to how high it will go, but the U-3 will exceed 15% within the next 2 years, and I suspect it will exceed 20% at some point. And that is the U-3. What do you think the U-6 and the REAL rate will be, the rate that the government isn't fiddling with?
This is going to be so WONDERFUL. It is hard not to sit and laugh at the misery that is coming.
You've got to remember that the majority of posters on this Forum (at this time) are Obamanoids who believe some of the most preposterous things.
When I noted (On November 25, 2008) that the unemployment rate would reach or exceed 7.6% when the February unemployment numbers were posted, they scoffed.
I don't think (hope) things are going to get quite as bad as you seem to believe, but, believe we are facing the worst economic calamity since the Great Depression!
I voted for Obama, and if you look at my posts, you'll see that I have had a healthy dose of pessimism about the state of economy, so don't paint us all with such a broad brush. Yes, this is certainly the worst recession since the Great Depression, and hopefully it doesn't get significantly worse.
Anyways, I was kind of expecting the economy to start to blow up during Bush's 2nd term.
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