Quote:
Originally posted by Mojo_PeiPei
Wasn't our crash of the economy worse then the depression?
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Depending on your measure of
worse. Certainly the mass unemployment never occurred. But measures such as stock market depression and new housing construction were worse off. I think it's difficult to compare eras. For example - the stock market dip was numerically worse - but the market was so high in the late nineties that it's hardly a measure for comparison.
Quote:
Originally posted by Mojo_PeiPei
The only reason things weren't as bad was because we had certain security measures put in place so the devastation wouldn't be as bad as the Great Depression.
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I'm not sure I know what you mean by "security measures." Surely, we understand alot more about brute economics now then we did then. We, for example, took drastic steps to control interest rates and inflation in the last few years. Also, being part of a global marketplace insulated us - there was still a demand for basic goods and services throughout the world market. If things like that are what you mean by "security measures," then yes, we were and are insulated from an effect as catastrophic as the great depression. The fact that we can't get hit as bad as the Great Depression doesn't mean we should tolerate any kind of unrest in our markets, however.