Today`s turmoil doesn`t presage another Great Depression

[DragonflyProperties]

Hi all,

An article from the October 25th edition of the Globe and Mail (Globe Investor). Excerpts:

Newspapers and TV seem to carry a daily talking head, warning us we are in 1929 all over again. That is, we`re facing a repeat of the Great Depression. Are we?

Not likely. Rather, an interesting historical comparison between the 1920s-1930s and today puts us squarely in 1937. And if the comparison is right, we are about to experience a rising market quite soon.

Why the comparison? Because both historical periods saw the bursting of a speculative bubble that caused vast destruction of capital

http://www.theglobeandmail.com/servlet/sto...avner+mandelman

Keith

 

[wealthyboomer]

Former Federal Reserve Chairman Alan Greenspan told Congress in prepared testimony Thursday that the current global financial crisis is a "once in a century credit tsunami" that policymakers did not anticipate.

That would pre-date any comparison to the 30`s.