Monday, October 13, 2008

Don't Get (Great) Depressed

Alan Schram: Why this is NOT The 1930's: "And this was not completely unexpected, either. We had market crashes in 1819, 1837, 1857, 1873, 1893, 1901, 1907, 1929, 1946, 1961, 1968, 1973, 1980, 1987, and 2000. We had 13 recessions since the 1930's. This is the nature of the business cycle. Yes, this one is more violent than most but it would be foolish to expect that every bear market will turn into a Great Depression. And even if you did assume that, we are already at a point where the scales of crisis in the stock market, albeit not in the economy, are not far off from the precedent of the Great Depression."

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