Great Depression 2.0? Not So Much.

by Pejman Yousefzadeh on May 29, 2009

In the event that you stay up at night, dear reader, worrying that we are entering a new age of Hoovervilles–would they now be called Barackopolises?–and apple-selling, let me point you to the excellent blog of Donald Marron, who formerly served as a member of the President’s Council of Economic Advisers, Acting Director of the Congressional Budget Office, and the Executive Director of Congress’s Joint Economic Committee. Marron’s excellent blog has an excellent post, which shows all the ways in which we have failed–thank goodness!–to even come close to Great Depression standards in the current economic downturn. By all means, read the whole thing, but since a picture is worth a thousand words, behold:

six-downturns

Kinda puts things in perspective, no?

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