Not a depression
Ben Bernanke has confirmed what I’ve been thinking all along: the economic ‘crisis’ is ‘no comparison’ to the Great Depression.
In fact, I think the entire situation is overblown, comparisons to the Depression or not. Sure, things are rougher now than they have been. But there is no rational reason for the panic that has led to trillions in bailouts and talk of new New Deals. A ratcheting down of the alarmism might go a long way in getting things back on track.