4 ms·
My two cents: (Full disclosure. Not an economist) The great depression seemed to have ~5-8 primary causes to it. These causes came from many different directi
by anongraddebt 8y ago
My two cents:
(Full disclosure. Not an economist)
The great depression seemed to have ~5-8 primary causes to it. These causes came from many different directions and converged on a single year (or handful of years) in time. Since then, the recessions we've had have seemed to have occured due to a single or unitary primary cause. That is, they did not seem like the convergence of a multitude of quite distinct causes. A problem here is how fine a line you draw between separate causes. On one interpretation, there was a convergence of a multitude of causes leading up to 2008. The only thing I will say here is that the multitude of causes for 2008 seem much fewer in number and distinctness than 1929, and our present situation feels more similar - in that way - to 1929 than 2008.
- onlyrealcuzzo 8y agoRay Dalio is saying our current situation most closely resembles 1937, and 2008 most closely resembled 1929.
- aaronblohowiak 8y agoSource? I’d love to learn more
- onlyrealcuzzo 8y agohttps://www.principles.com/big-debt-crises/ https://www.principles.com/big-debt-crises/
- anongraddebt 8y agoInteresting. I would very much love for him to be right.
- dpc_pw 8y ago1939
- anongraddebt 8y ago[Insert healthiest year for American economy ever]
- zjaffee 8y agoIt's really odd that he says that considering how different unemployment is today compared to 2008, where as in 1937 unemployment had consistently been bad starting back in 1929.