Jubak’s Journal: This isn’t the Great Depression
description: Don’t let the Great Depression comparisons in the press and on TV send you into a panic. MSN Money’s Jim Jubak lays out five reasons why we’re not headed for a replay of the thirties.
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11/25/08
11/25/08
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Jim Jubak
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Jubak’s Journal
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This isn’t the Great Depression
This isn’t the Great Depression
Comments
With all due respect, what is Mr.Jubak talking about? Fed's money supply is a disastrous atomic bomb waiting to detonate. This "print to spend" policy will completely trash the dollar and send us straight to Zimbabwe or Weimar republic, which is even worse than Depression. -
JazonCat
Exactly lazylady, the economies of the U.S. and Europe for the last 28 years have been built upon easy credit. Easy credit created a historic housing bubble and the coming consumer credit crunch. Look at wages for the middle class, they have remained stagnet since the 1980s. Despite this we have increased the average size of our homes, our cars(SUVs) and our televisions. All based on easy credit. Now in response to these systemic problems, governments want to throw more credit at bailouts and fiscal stimulus plans. Newsflash the Treasury is broke, China is the sugar daddy. When China turns inward to domestic markets, the fed will start printing, then watch inflation destroy the savings of those who never went into debt in the first place. Sure its not the depression, but that doesn't mean it can't be worse by a mile. -
Tobruk9
It sounds logical but I would guess there are more than one set of mistakes that can result in a depression. Tightening money may have caused the last one but didn't loose money get us here? How many trillions does the fed have to toss on the fire? Don't all these rescues encourage more of the same bad decisions? -
llazylady
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