Quote:
Originally Posted by Dragoneye
I agree with ya, Mr. Icky.
I'd like to extend my thoughts on the subject...A "depression" by definition (at least the way I was taught) is an extended recession. So if this environment continues for any length of time, we could very well be in a legitimate depression. However, we have not nearly reached the severity of the Great Depression. And I pray to God we never do.  |
Things are relative. A 21st Century Great Depression will look quite different from a 19th Century Great Depression. Banks are now insured (which is a good point) and the workforce is much more diverse. With the gov't in it's current form I wouldn't expect a 1930s level Depression, however for 2009, this could very well be looked at very similarly 10 years from now. That's my take.