The U.S. Economy is Unsustainable
Summary
Dysfunctional capital markets, frantic central banks, stressed-out consumers, fear and uncertainty -- all are alarming echoes of the global economic cataclysm of the 1930s.
Which raises the inevitable question: Could another Great Depression be lurking over the horizon?
"I've been asked many times whether we will have another Great Depression," said David M. Kennedy, a Stanford University history professor and the author of "Freedom From Fear," a Pulitzer Prize-winning history of the Depression and World War II. "My standard answer is that we won't have that one again -- I'd be surprised to have one of that seriousness and duration. But that doesn't mean we wouldn't have a catastrophe we haven't seen before."
Economists and historians say the most important difference between today's economic environment and the old days is the government's role. Read More . . .
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