begin quote"I think the current financial crisis looks to me like the worst one since we got into the Depression," says Richard Sylla, who teaches the history of financial institutions at New York University's Stern School of Business."
Which is not to say this time will be anywhere near as bad -- partly because, economists note, Federal Reserve Chairman Ben Bernanke is a student of the Depression and appears to be steering the Fed toward avoiding the mistakes of back then." endquote.
http://biz.yahoo.com/ap/080323/economy_on_the_edge.html
http://www.nytimes.com/2008/03/23/business/23how.html?ref=business
I highly recommend both these articles if you are interested in both where we are: the first URL and how we got here:the second URL
The 1990's were the most economically flush times since the late 1960s in america. The Soviet Union had collapsed and the US military establishment hadn't figured out how to create another wartime scenario yet to get the funding it has now. So during the 1990s I believe was the biggest economic boom time since the 1950s and 1960s. During the Viet Nam War we squandered our wealth as a nation and went from a creditor nation to a debtor nation. So when the military industrial complex created the Terrorist war we entered this war as a debtor nation. since we aren't exiting this war we are becoming a bankrupt nation. A+B=C. It isn't rocket science. We couldn't afford this war, economically or in any other way and now we appear to be entering Great Depression2 as a direct result. Our nation might have to go bankrupt for a while for us as a nation to become realistic about all things once again.
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