Tuesday, September 9, 2008

World Depression I parallels

If the world runs in cycles and if what we are seeing is the end of an 80 year credit cycle and we are looking at World Depression II, then it is interesting to look at parallels.

Considering that it is election season, presidential comparisons are most entertaining:

Bush compared to Hoover (commonly held at least partially responsible for turning a recession into a depression because of his tax policies)

Obama compared to FDR (responsible for the New Deal, a nationwide infrastructure construction project that helped end World Depression I. Obama's New Deal involves national renewable energy infrastructure.)

I don't agree with either comparison 100%, but they are certainly worth a read.

1 comment:

Gringo_Malo said...

Some people will tell you that the New Deal didn't end World Depression I, but only prolonged it. If Obama becomes president, I'm confident that he will only prolong World Depression II. I'm going to hold my nose and vote for McCain, only because he's the most likely candidate to defeat Obama.