Monday, November 24, 2008
Depression 2009: What would it look like?
From reading the article Depression 2009: What would it look like, I noticed that Drake Bennett stated that if we do go into a depression within the next year, it will not be as hard-hitting and as threatening as the depression which occurred in the 1930s. The likelihood of a depression occurring again, however, is not good. A depression, Bennett notes, is far off and remains far from inevitable. Still, many people are preparing for the worst and trying to guess what will happen if we do go into a depression. The fact is that as much as we may try to understand what it will be like, we will never truly know. What we do know is that the world policy makers have learned enough not to repeat the mistakes made in the 1930s. What may happen, however, is the slowing down of society and commerce as well as an increase in unemployment. The depression of 2009, if it does occur, will be less visible and more isolating.
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1 comment:
Some good thoughts here, Marie. Lets hope this isn't history repeating itself and that we can avoid another massive depression.
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