The Great Depression Part Two?

To all the doomsayers, pessimists, and Chicken Little's, yes we are in a recession. But to run around screaming "the sky is falling ... the sky is falling ... run to the cave .., run to the cave", and speak of terms of a depression, I am telling you to give your head a shake.

Current unemployment figures are up in this recession as expected, up to 7% of employable people, and the fact is that women were not included in the unemployment figures of the Great Depression of 1929-1939 where unemployment of the labour force (mostly men) was at 30%. By today's standards of equality, men and women are equally employable, and based upon the Great Depression standard of measuring unemployment, today's rate of unemployment would be 3.5% or conversely depression rates would be 60% unemployment. From an optimists point of view 93% of Canadians are employed today in a tough economic time.

I am sorry, Chicken Little's, the sky is not falling, and we are not in a depression, and yes the end is near ... the end of low stock prices ... and the end of the recession ... pessimism is doomed.