Tuesday, April 7, 2009

World Depression II

Lots of writers are claiming that the current economic issues aren't as bad as the Great Depression.

These comparisons are based on the US experience during the Depression vs the US experience today.

This article claims that if you compare the World then vs World now, every sign indicates that World Depression II is going to make World Depression I look like World War I.

World Depression I was severe, prolonged and unpleasant and all, but since then we've learned far more efficient and effective ways of turning our cash into confetti.

And yet I'm perfectly happy pulling up stakes and moving to a less secure new position. Am I really so confident in the invulnerability of my industry or do I not believe that things are as bad as the analysis indicates?

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