The Great Depression Again?
How far from here is their edge of their respective cliffs for each country that is now in financial difficulty?
By Ian R. Campbell —— Bio and Archives--June 26, 2012
Canadian News, Opinion | Comments | Back To Full Article
Why Read: Because it is foolish not to consider the possibility of depression, particularly in the face of the preponderance of commentary over the past many months that rampant inflation is on the horizon
Featured Article: An article published yesterday:
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- carries a headline that says: “Is this 1931 all over again? Paul Krugman, Noriel Roubini, Niall Ferguson and more think so”;
- reports a number of economists, some of them particularly well known (and who the article infers “normally find little common ground”), are now considering whether we are about to see a repeat of the “economic catastrophe of 1931” – citing Niall Fergusson, Paul Krugman and Nouriel Roubini among others;
- reports Bradford DeLong and Barry Eichengreen, both economics professors at the University of California – Berkeley, said in a recent book preface “The parallels between Europe in the 1930s and Europe today are stark, striking, and increasingly frightening”; and,
- cites unemployment, youth unemployment, and financial instability and distress as ‘widespread’ as some of the reasons economists and others may be expressing the view that depression may be possible.
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