Quote Originally Posted by selil View Post
Everybody is trying to equate this depression to the "Great Depression" even when all the economic indicators are MUCH worse.
That seems a bit alarmist to me. Let's concede that the indicators are genuinely worse. Part of the reason for the depth and slowness of recovery of the depression were poor responses by the Fed (see Friedman and Schwarz). But we've learned from that. So, even if it is worse, our response can make it less painful. Thus far, that seems to be the case. No Hoovervilles in my neck of the woods. Out here, the "poor" are still driving cars, watching TV, and about one Ho-Ho away from type-2 diabetes.