[Marxism] Is this as bad as the Great Depression?

Marv Gandall marvgand at gmail.com
Wed Dec 29 06:13:50 MST 2010


(Long article with many links)

Underneath the Happy Talk, Is This As Bad as the Great Depression?
Washington's Blog
WEDNESDAY, DECEMBER 29, 2010

The following experts have - at some point during the last 2 years - said that the economic crisis could be worse than the Great Depression:

	• Fed Chairman Ben Bernanke
	• Former Fed Chairman Alan Greenspan (and see this and this)
	• Former Fed Chairman Paul Volcker
	• Economics scholar and former Federal Reserve Governor Frederic Mishkin
	• The head of the Bank of England Mervyn King
	• Nobel prize winning economist Joseph Stiglitz
	• Nobel prize winning economist Paul Krugman
	• Former Goldman Sachs chairman John Whitehead
	• Economics professors Barry Eichengreen and and Kevin H. O'Rourke (updated here)
	• Investment advisor, risk expert and "Black Swan" author Nassim Nicholas Taleb
	• Well-known PhD economist Marc Faber
	• Morgan Stanley’s UK equity strategist Graham Secker
	• Former chief credit officer at Fannie Mae Edward J. Pinto
	• Billionaire investor George Soros
	• Senior British minister Ed Balls

How could that possibly be, when the stock market has largely recovered? (Let's forget for a moment that the stock market rallied after 1929, but then crashed in a double dip).

To find out, we'll look at a couple comparisons to get an idea of what is going on in the rest of the economy. And then we'll compare the government's efforts in the 1930s to today.

[…]

Full: http://www.washingtonsblog.com/



More information about the Marxism mailing list