True, The Great Depression was bad, but can you rule out this as being simply a recession?

Look at past recessions, and tell me usually how long does those last? They don’t last more than 2-3 years. We are on to our 3rd year and things are pretty much the way it is if not getting worse. None of the debt was worked out - if anything it grows.

This depression doesn’t have to be a carbon-copy to The Great Depression to be called a ‘depression’. Whenever you have TRUE unemployment rate as high as 20%, with continued credit contraction from millions of defaulting loans, and subdued economic growth for years to come - then I would call it a depression.

I don’t need to wait on a soup line to make that call, but I am sure those who waited long lines for their unemployment checks from the unemployment office that is fast going BROKE, or those food banks practically running out of food then the similarity is there, but under a different context.

Look at the news. It doesn’t have to be Wall Streeters jumping out off the building, but formerly fired workers going back to their old workplace to kill ppl or moms/dads killing their families because of financial difficulties.

- retirementdreams

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