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Monday, June 22, 2009

White House Expects 10% Unemployment Soon, and Stock Market

by Calculated Risk on 6/22/2009 04:00:00 PM

The AP reports that White House spokesman Robert Gibbs says Obama expects "10 percent unemployment within the next few months".

By popular demand ...

S&P 500 Click on graph for larger image in new window.

The first graph shows the S&P 500 since 1990.

The dashed line is the closing price today.

The S&P 500 is up almost 32% from the bottom (235 points), and still off almost 43% from the peak (672 points below the max).

Stock Market Crashes The second graph is from Doug Short of (financial planner): "Four Bad Bears".

Note that the Great Depression crash is based on the DOW; the three others are for the S&P 500.