Lee Eugene Munson and Patrick Kirts present an economic outlook. Published on Seeking Alpha

Thomas Lee, US Equity Strategy at JPMorgan, generated some buzz in the past few days when he noticed that the twelve-year-low reached by the Dow last week had only happened two other times in history. The others occurred on April 3, 1932, in the depths of the Great Depression, and on December 6, 1974, after the first oil crisis. We now know that recovery in the market was soon to follow, and that the respective recessions ended four to nine months after, although unemployment had yet to peak. In both cases, the market popped and drew in the crowds. Is it really different this time, or is recovery right around the corner?
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Tags: 1932, 1974, Barrons, C, Capitalism, Citigroup, DIA, federal deficit, GDP, Great Depression, Jim Rogers, JP Morgan, lee munson, Ouch that hurts, QID, QQQQ, SDS, SPY, stock, Thomas Lee, Wall Street, Warren Buffett, Washington