This is depression era territory: In China, the unemployment rate for young people aged 16-24 climbs to an all time record high of 19.9%

China’s economy is worse than we thought as it is crashing at an “alarming” rate. The People’s Bank of China (PBOC) was forced to cut policy rates to try to stop a slowdown that began back in March. China’s slump is threatening to take the rest of the world into a recession as evident by the price of crude oil.