It wont be as extreme as the Great Depression. But it will be worse than the 70s downturn, and I think it will be worse than what Japan saw from 1990 to 2003. Maybe well see unemployment at 15 percent, give or take. The worst part of it is youre going to see deflationary trends in prices from a shrinking work force. Deflation is the enemy of asset prices.
http://www.wired.com/news/technology/0,70034-0.html?tw=wn_tophead_11
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