Monday, August 24, 2009
The Recession is Over?
I was thinking about posting a few comments about the economic recovery which is supposed to be underway, along with a few graphs to illustrate my point, which is that what is heralded as a recovery might just be a lull in the economic storm similar to what was experienced in the first year and a half after the stock market crash in 1929. Although 1929 is thought of as THE disastrous year, the worst year of the Depression was actually 1932--after government policies to fight the problem had had time to make matters worse. It's likely that had the government done nothing and simply allowed the market to correct itself, the Great Depression would have been known as the Not So Great Depression. As I said, I was getting ready to post some notes on the subject when I ran across a good article by Vox Day who made the point far better, and in much more detail than I would have. Take a look here.