It was certainly a once-in-a-lifetime event looking back: the greatest economic shock since the Great Depression [0]. As to why it is different now, this artic

It was certainly a once-in-a-lifetime event looking back: the greatest economic shock since the Great Depression [0]. As to why it is different now, this article [1] contains some answers (anyone can decide whether they agree or not). [0] https://en.wikipedia.org/wiki/Comparisons_between_the_Great_Recession_and_the_Great_Depression https://en.wikipedia.org/wiki/Comparisons_between_the_Great_... [1] http://cepr.net/blogs/beat-the-press/it-actually-doesn-t-feel-at-all-like-2006-refusing-to-learn-the-lesson-of-the-housing-bubble http://cepr.net/blogs/beat-the-press/it-actually-doesn-t-fee...