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Great Recession or Great Depression?

February 13, 2009 RSS Feed Print

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Nariman Behravesh, chief economist at IHS Global Insight:

This is the Great Recession, not the Great Depression 2.0 and not Japan in the last decade. We’re seeing a different policy response than what we saw during the Depression and Japan in the 1990s. It took Japan seven years to deal with its banking crisis. The U.S. has moved in a matter of months and it’s had some fiscal effect. Our fiscal stimulus may not be enough or the right kind, but it’s much different than the Depression or Japan.

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Bleloclorgo of AL 4:06PM April 03, 2009

Now it is a globle problem. I even cannt find a job here after I graduate. However I strongly believe everything will be fine. Why? God help those who help themselves!

Xiao 1:24AM February 22, 2009

I am glad you like to quote Nariman Behravesh. Let's see....Japan's index used to trade in the 30,000 range before its collapse. It's now trading in the High 7,000 range some 20 years later. Why? They threw all that liquidity at the banking system there when it wasn't a liquidity issue. It was a solvency issue. They even created a term in the financial industry..Zombie banks.
Bernanke knows that the "depression" of the 30's was made worse because of the lack of liquidity. That is not the issue this time like it wasn't in Japan. It is a solvency issue! Big difference but insignificant if you dont understand that every fiat monetary system that has ever been created has failed. Throwing more money into the system when it is not a liquidity problem will only result in a long and ugly situation much like Japan has seen. That being the dollar being related to the Weimar marks. Worthless pieces of paper!
So now.......stop being stupid!

Jeff of WI 7:32AM February 15, 2009

Great Recession or Great Depression?

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