U.S. History

The Not-as-Great Depression?

The news is full of commentaries about the worsening economic crisis in the United States.  Some people, such as multi-billionaire George Soros, are out there saying that the coming economic depression will rival (or perhaps exceed) the one of the 1930s in its severity.

Here is an article by Robert Gavin in the Sunday Boston Globe that tries to assess the comparability of the circumstances.  It's worth reading.   The quick take is:

The good news: Many analysts agree the current downturn will not topple into a full-fledged depression, and the Fed is taking unprecedented actions to prevent one. The bad news: there seems to be no clear way to stop the shock waves.

The Not-as-Great Depression?

The news is full of commentaries about the worsening economic crisis in the United States.  Some people, such as multi-billionaire George Soros, are out there saying that the coming economic depression will rival (or perhaps exceed) the one of the 1930s in its severity.

Here is an article by Robert Gavin in the Sunday Boston Globe that tries to assess the comparability of the circumstances.  It's worth reading.   The quick take is:

The good news: Many analysts agree the current downturn will not topple into a full-fledged depression, and the Fed is taking unprecedented actions to prevent one. The bad news: there seems to be no clear way to stop the shock waves.