|The Greater Depression
An updated financial and economic news service focusing on the original
Great Depression and its numerous similarities with today. These
similarities include the economic and political climate, the rapidly
unemployment situation, a huge stock crash, a handout/bailout mentality, a
faltering world economy, a credit crisis, a global climate of war and lots more.
...because those who fail to learn from
history are doomed to repeat it.
Great Depression II:
The Year 2011?
Excerpts from the
Harvard Economic Society’s
Weekly Letter, 1929-1930:
Nov. 16, 1929: “[A] severe
depression like that of 1920-21 is outside the range of
Jan. 18, 1930: “With the
underlying conditions sound, we believe that the recession in
general business will be checked shortly and that improvement will
set in during the spring months.”|
May 17, 1930: “General
prices are now at bottom and will shortly improve.”|
Aug. 30, 1930: “Since our
monetary and credit structure is not only sound but unusually strong
… there is every prospect that the recovery which we have been
expecting will not be long delayed.”|
Sept. 20, 1930:
“[R]ecovery will soon be evident.”|
Nov. 15, 1930: “[T]he
outlook is for the end of the decline in business during the early
part of 1931, and steady … revival for the remainder of the year.”|
In 1931, strapped
by the depression, the
Letter ceased publication.