How close are we to another great depression?
When economists tell us the current U.S. slump could never turn into another Great Depression, they all point to one thing: one of four Americans was out of work in the 1930s. But since the definition of joblessness has changed over the years, this expert assessment might be too rosy.
... Figures collected for Reuters by John Williams, from the electronic newsletter Shadowstats.com, suggest that ... if unemployment were still tallied the way it was in the 1930s, today's jobless rate would be closer to 16.5 percent -- more than double the stated rate.