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depression != "Great Depression" I'm tired of explaining this. Yes, we're entering a depression. It's not this nation's first, nor its second or third.
by thomasmallen 18y ago
depression != "Great Depression"
I'm tired of explaining this. Yes, we're entering a depression. It's not this nation's first, nor its second or third.
- mattmcknight 18y agoIs there a consensus on how many we've had? It seems more like we are about to enter another great inflation, as described by RJ Samuelson, except shorter/sharper than the last one.
- thomasmallen 18y agoI think 70s-80s was a small depression, but they can call it a recession if they want. A recession is more like the dot-com bust + 9/11. Off the top of my head: * 1807 (Embargo! Political cartoon: http://upload.wikimedia.org/wikipedia/commons/7/74/Ograbme.jpg http://upload.wikimedia.org/wikipedia/commons/7/74/Ograbme.j...) * 1837 (Specie speculation: Weird political cartoon: http://memory.loc.gov/service/pnp/cph/3a10000/3a18000/3a18000/3a18005r.jpg http://memory.loc.gov/service/pnp/cph/3a10000/3a18000/3a1800...) * 1873 (Railroad collapse; government too tight with money. Weird political cartoon: http://historymatters.gmu.edu/mpimages/mp105.jpg http://historymatters.gmu.edu/mpimages/mp105.jpg) * 1890 (Panic of 1890: Specie and railroad speculation) * 1929 (Great Depression)