BBC News: Reports on the demise of another American Bank. Is this the Great Depression, the simple answer is no, the welfare state in the UK and the USA was not in place during the early stages of the Great Depression. The Governments can not afford for the major collapse of the Western Economy, thus you will hear news that this is the next Great Depression, it helps the 24/7 news cycle but it is not real, the Markets have to correct the self created problems of to much debt and not enough capital. On the whole we have low inflation, low unemployment, this is not the 1930s, you don't have to go to a soup line yet, rough patch but not the Great Crash of the 1930s.
Monday, September 15, 2008
The Great Depression ?
BBC News: Reports on the demise of another American Bank. Is this the Great Depression, the simple answer is no, the welfare state in the UK and the USA was not in place during the early stages of the Great Depression. The Governments can not afford for the major collapse of the Western Economy, thus you will hear news that this is the next Great Depression, it helps the 24/7 news cycle but it is not real, the Markets have to correct the self created problems of to much debt and not enough capital. On the whole we have low inflation, low unemployment, this is not the 1930s, you don't have to go to a soup line yet, rough patch but not the Great Crash of the 1930s.
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