The Great Depression

[kass_rants]

Okay. Listen up! I don't care what the media has been screaming about. This is NOT another Great Depression. I'm going to explain to you why.

Kass's Top Three Reasons Why This is Not Another Great DepressionThe Great Depression began with the crash of the stock market in October 1929 (the crashes are always in October...). Many investors

Comments

[lord_skorri]

Talk radio, you mean NPR or Rush and Glenn Beck ? :) Tell Bob we need a cheerful showtune !

[kass_rants]

A cheerful showtune and a barrel of homebrewed ale! I keep him around for a reason. =)

(By "talk radio" I really mean anyone but the BBC who seemingly is the only news outlet who's not waving their hands over their heads and panicking. I mean, on BBC World Service yesterday, they actually explained the Commercial Paper market -- the sector of "Wall Street" I used to work in!)

[kraehe]

Gee, thanks for the lack of confidence, hon! (says the NPR employee)

I think our Planet Money podcast is doing a damned good job of explaining things. They even broke a big story about the bill passed last Friday.

And yes, they are interviewing experts who are telling people not to pull all of their money out of the market and keep it in their mattress.

That said, I have to note here that the American economy has been fueled by debt, not real wage increases, for the past, oh, two decades, but particularly since 2000. We have to learn to live within our means. (But no, we shouldn't panic and stop spending, either.)

[kass_rants]

So if NPR isn't running around waving their hands over their heads and screaming, "The Sky is Falling! The Sky is Falling!" what precisely makes you think I'm talking about them?

[kraehe]

Above, Lord Skorri says "Talk radio, you mean NPR or Rush and Glenn Beck ? :) Tell Bob we need a cheerful showtune !"

And you reply that you recommend the BBC. So, yeah, gee thanks. :)

I agree, showtunes appear to be in order. Bob, you there?