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GM bankruptcy = "depression"?
Posted by rob 94 aero (more from rob 94 aero) on Fri, 29 May 2009 17:23:22
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I read somewhere that the technical definition of an economic depression, used by our government, is 10% unemployment. When GM goes bankrupt in the next few days, I think that could definitely move us closer to the 10% point. Will they actually call this a depression if unemployment gets to 10%? Hard to see how a GM bankruptcy is not gonna really cause the unemployment numbers to swell.
posted by 68.110.240...
Posts in this Thread:
- GM bankruptcy = "depression"?, rob 94 aero, Fri, 29 May 2009 17:23:22 <-- Viewing This Message
- GM no longer employes enough people to have this effect, MI-Roger
, Sat, 30 May 2009 13:33:39 - The unions bankrupted GM..., Mike Lynch
, Sat, 30 May 2009 13:30:09- hmm it really wasn't just the Unions, ryan
, Sun, 31 May 2009 15:19:24 - The unions bankrupted GM... with management help, Noel, Sun, 31 May 2009 06:36:26
- Yep, Jim, Mon, 1 Jun 2009 11:30:03
- Re: The unions bankrupt many places they dominate., BobS, Sat, 30 May 2009 23:01:20
- Re: The unions bankrupted GM..., KevinM, Sat, 30 May 2009 19:03:38
- Re: The unions bankrupted GM..., mikef, Sat, 30 May 2009 18:02:42
- do what? (i do not intend this as a flame), repoSAAB, Sat, 30 May 2009 14:42:12
- It wasn't the workers or the unions who've made, No Snaab, Sat, 30 May 2009 14:12:13
- Graph of Unemployment by County - USDA Stats, andym, Sat, 30 May 2009 04:11:08
- You ought to live in Michigan, TG, Sat, 30 May 2009 03:35:03
- Actually, "throwing in the towel", is, for all intents, Lawrence, Fri, 29 May 2009 18:53:11
- Huh?, PGAero
, Sat, 30 May 2009 12:36:45
- Re: GM bankruptcy = "depression"?, Simon S, Fri, 29 May 2009 18:04:19
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