Greater Depression

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 escalating 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.

  unemployment
Great Depression II:
The Year 2014?
Excerpts from the Harvard Economic Society’s Weekly Letter, 1929-1930:

bullet Nov. 16, 1929: “[A] severe depression like that of 1920-21 is outside the range of probability.”
bullet 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.”
bullet May 17, 1930: “General prices are now at bottom and will shortly improve.”
bullet 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.”
bullet Sept. 20, 1930: “[R]ecovery will soon be evident.”
bullet 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.