That's what we would call it here if unemployment surpassed 20%. According to Wiki, the unemployment in Canada during the Great Depression was 27%. In Spain and Greece right now their unemployment rates are 24%. They jusr said on the CBC that if things get worse for Greece and Spain, Italy, Portugal, and Ireland they will slide into a deep recession. If things get worse they will only be in a deep recession? Maybe Harper is right, Europe is running out of runway to solve this problem. These issues tend to be like dominos one country falls, then another etc. I don't own any stocks, but if I did, I would sell them now. Life goes on without the stock market and greedy bankers.
Great Depression in Canada - Wikipedia, the free encyclopedia
Canada was hit hard by the Great Depression. The worldwide Great Depression that started in the United States in late 1929 quickly reached Canada. Between 1929 and 1939, the gross national product dropped 40% (compared to 37% in the US). Unemployment reached 27% at the depth of the Depression in 1933. Many businesses closed, as corporate profits of $398 million in 1929 turned into losses of $98 million as prices fell. Farmers in the Prairies were especially hard hit by the collapse of wheat prices. Despite the emergence of numerous radical parties, the government was run by the major parties and no large-scale experiments, such as the American New Deal were attempted. The Depression ended in 1939 as World War II began.[1]
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This article is great, it says the two main Spanish trade unions are in denial, there is no consensus on what the problem is, and industrial production is in accelerating decline. They don't talk about this in the Vancouver Sun newspaper.
Spanish epiphany as depression deepens? – Telegraph Blogs
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This blogger mentions depression twice regarding Greece. Once saying they are in one, another saying they will be. Sell on the D word.
Greek elections: Status quo prevails, but crisis is far from over - The Washington Post#
Great Depression in Canada - Wikipedia, the free encyclopedia
Canada was hit hard by the Great Depression. The worldwide Great Depression that started in the United States in late 1929 quickly reached Canada. Between 1929 and 1939, the gross national product dropped 40% (compared to 37% in the US). Unemployment reached 27% at the depth of the Depression in 1933. Many businesses closed, as corporate profits of $398 million in 1929 turned into losses of $98 million as prices fell. Farmers in the Prairies were especially hard hit by the collapse of wheat prices. Despite the emergence of numerous radical parties, the government was run by the major parties and no large-scale experiments, such as the American New Deal were attempted. The Depression ended in 1939 as World War II began.[1]
======================
This article is great, it says the two main Spanish trade unions are in denial, there is no consensus on what the problem is, and industrial production is in accelerating decline. They don't talk about this in the Vancouver Sun newspaper.
Spanish epiphany as depression deepens? – Telegraph Blogs
========================
This blogger mentions depression twice regarding Greece. Once saying they are in one, another saying they will be. Sell on the D word.
Greek elections: Status quo prevails, but crisis is far from over - The Washington Post#
