White House Expects 10% Unemployment Soon, and Stock Market

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

By popular demand ...

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).

The second graph is from Doug Short of dshort.com (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.