Worse Than The Great Depression?

An antidote for those of us guilty of slipping into sunny optimism… George Washington at Naked Capitalism makes the case that where we are now is worse than the Great Depression. This is how the hefty, link-filled post begins:

The following experts have – at some point during the last 2 years – said that the economic crisis could be worse than the Great Depression:

Charts, too. This one from Calculated Risk shows that this is not a normal spike in unemployment:


This one on inequality:

Figure 1

And this, scariest of all, from Casey Research in 2008, to illustrate how $8.5 trillion dollars compares with the cost of all major conflicts and programs initiated by the US government since its inception:


I hardly have the skills to parse the implications and meaning or dispute the conclusion that “the government is doing the wrong things to address the downturn.” You can help. Read the post and share your thoughts in comments.

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