04.02.08
Another Great Depression… what are the signs?
Today on Salon.com:
“Most economists are no longer debating whether there will be a recession in 2008. Now, they’re arguing over when the recession started — was it last November, or December? — and how bad it’s likely to get. While they bicker, however, a far more terrifying economic specter from the distant past has sent a chill through the infosphere.
‘We have not seen a nationwide decline in housing like this since the Great Depression,’ said the CEO of Wells Fargo late last year. ‘It is now clear that the U.S. and global financial markets are experiencing their worst financial crisis since the Great Depression,’ wrote economist Nouriel Roubini last week.”
wanderer7 said,
April 3, 2008 at 2:51 am
implosion of stock markets is the one unmistakable sign
as happened in se asia in 1997
ian in hamburg said,
April 3, 2008 at 5:37 pm
Asia has since recovered from that, right? And they’ve learned from the mistakes of the past, I hope. They raised interest rates back then at precisely the wrong time. That’s why you’ve seen the Fed lowering them, to make credit and long-term investment easier.