Brian:

Analyst predictions have always been suspect and should be taken with a grain of salt.

"The most dangerous attitude is the arrogance of believing recent history cannot repeat itself."

Absolutely, the opposite is in fact true..Humans by nature have short memories, they either fail to learn from the past or choose to ignore it, therefore history always repeats itself. The second crash after 1929, from what I've read, had more to do with the failed economic policies of FDR and his New Deal than anything else..

In fact, you're also correct about future economic prospects and your current unemployment estimates are probably a tad low.. History is indeed repeating itself in the USA. There have been 4 previous attempts to destroy the United States Free Market System and create a progressive socialist nanny state with each more successful than the last...Wilson ( WW1 Command Control) , Roosevelt (The New Deal), LBJ ( Just Society) and Clinton ( who was unable to further the progressive agenda as the Republicans controlled the House and Senate). Obama is far more to the left than ANY previous President and has control of both Senate and Congress ( run by extreme left loons Reid and Polosi).

With insane spending ( and borrowing), soon to come massive tax increases, the takeover of both the financial and auto industries, the planned nationalization of Health care,,the train called the U.S economy ( IF THE GOVERNMENT MAINTAINS IT"S CURRENT COURSE) is a wreck traveling at warp speed to destruction..