I needed a job, bad, in LA in 1979/1980. I moved there with next to no money and no plan. I was only old enough to drink because they hadn’t changed the law yet. I’d had a dozen jobs or more already. No one was hiring nobody for nothing nohow. If I see another person compare today’s economy to the Depression I’m going to show them a picture of 1979. When a mortgage on a house reaches 17%, unemployment is right around 30% in the construction industry, and inflation looks like it’s going to touch 20, you get back to me. Car companies did more than just talk about going bankrupt back then.
Point taken. Things can get a lot worse. But then, nobody was talking cheerfully about running a trillion dollar deficits for years to come back in the 79/80 either.