Is this recession another Great Depression?

Salon by Andrew Leonard | Apr. 2, 2008 (Opinion)

Is it coming to a soup kitchen near you? Here's how we'll know if the current recession is turning into something much worse.

... we could get there. In fact, it would be all too easy. All we have to do is ignore what the markets and other economic indicators are telling us right now and continue down the disastrous path we've been merrily skipping along for the last 25 or so years. Want to see "The Great Depression: The Sequel"? Here's a handy three-step do-it-yourself action plan. Full Story »

Posted by Kaizar Campwala

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4.0

by Gary Clark - Oct. 1, 2008

The article provides a wide view with numerous links for background information. The financial sector voices have little credibility with their sustained denials of impending downturns, even as benchmarks fell one after another. That renders accurate assessment of our true economic health difficult, but the author marshals numbers and cases for a credible analysis. This should be stressed as a global phenomena, for a collapse of the U.S. economy leaves trillions in paper debts worldwide best burned for heat value in a new glacial economic epoch.