Similarities Between Great Depression And Today's Economy
May 20th 2009 17:54
The Traders Blog has a warning about this market written by Tony of KhronoStock.com.
He writes that the four most important factors that caused the Great Depression are present in the economy today. In the most scathing attack on the government's reaction to the crisis he writes:
Perhaps the major difference between the current economic recession and the Great Depression is the unprecedented intervention from the Federal government and the Federal Reserve. However, it is our view that such actions will only prolong the inevitable 2nd Great Depression rather than solving it.
He warns that the massive shorting that led to the rally since March, has now shifted with investors believing the worst is over. That road will be littered with heartbreak.
Please enjoy the article and comment below, email me at landfair3554@comcast.net or follow me @movermike
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Comment by corporate dojo
Martha Stewart is polishing the brass on the Titanic.
I say let the chips fall where they may
We are seeing the end or Reagan omics and the Dawn of a New and leaner and better economy but I do agree that faith, sacrifice, discipline and lifestyle change are the only ways to rise above this devastation..not panic, worry and doom and gloom.
Americans have to care less about Heidi and Spencer, Kate plus 8, Suri cruise and Sarah Pallin /Dave Letterman feuds and "Dial In" or we will as a nation, as we are now.... reaping what we sow
lazy, rescue fantasy driven fat, overnidulged , self involved, greedy possers
This is not for the weak of heart
You, my friend are doing all of a us a great service with your blog for you are real, keeping it real and offering important info..Keep it up
MR