Unemployed:Week4 - Will this be Over Soon?

We had a couple of good friends over for dinner Saturday. She is currently working part-time and looking for more work and he is on a forced 24-hour-week as a sheet metal worker. They said they intend to keep their home till the day the Sheriff knocks on their door.
My partner is also working part-time and I am full-time. Full-time unemployed. We also will not be walking away from our home.
The difference we had with our friends was academic. How long will this thing last? Is it a depression or a recession? My buddy erred on the side that things will pick up in six months. I asked him for his evidence or support for this argument, or was it just hope. In resignation he admitted it was hope.
The Capitalist class, their serious thinkers and supporters, think otherwise. In Saturday’s Wall Street Journal Nouriel Roubini, the most sought-after of global economists today, put it starkly: “Six months from now, even firms that look solvent (today) are going to look insolvent. Most of the major banks – almost all of them – are going to look insolvent.” He characterizes the economic crisis today as a “near-depression” - slightly hedging his bets. The market capitalization (value) of Bank of America today stands at $19.02 billion. Yet over recent months the Federal Government has ploughed $45 billion into it. This is a sign of the depth of this crisis.
The Prime Minister of Britain’s closest economic advisor, Ed Balls, was more blunt last week when he described the looming economic crisis as worse than the Depression of the 1930s. He added, “We are now seeing the realities of globalization, though at a speed, pace and ferocity which none of us has seen before.”
This week I am probably going to move up the union out of work list maybe two or three places, although I am still close to #300. This week we also took our 2-year old to her first Anti-Foreclosure Picket to stop the Sheriff taking someone’s home. The sleeping giant of the US working class will slowly raise itself up onto its elbows, find itself and fightback. This is the silver lining to the terrible economic nightmare that is unfolding.