Tuesday, March 04, 2008

Depression





So lately I've been interested in learning (or re-learning) about the Great Depression. Since I work in the subprime lending industry, one can't get away from negative thoughts about the economy. I've seen movies that depict what life was like back in the 10 years of the depression, but it's hard to imagine what it was really like. Men in business suits were standing in soup/bread lines. These same men stood in groups early in the morning at employment agencies hoping to get a day's work in to be able to feed their family for that day. How far are we from similar situations? I found this article to be interesting. This author discusses some of the causes of the Great Depression.

3 comments:

Marty said...

Interesting post--I heard on NPR today that today is the 75th anniversary of FDR's inaugural address where he introduced the New Deal and went on to implement many more ideas that brought the country out of the Depression.

John said...

The article you referenced illustrates some disturbing parallels between now and then: A huge income gap between the richest 1% and the rest of the nation, a presidential administration that favors business and business owners, and corporate profits that grow faster than worker income. Add to that our petroleum situation. Hmmm. Will history repeat?

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