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Yesterday versus Today?
The Great Depression is often compared to the 2001-08 Great Recession. There are some interesting facts when comparing the Great Depression to the Great Recession. It may even be considered scary when laid out directly in front of you.
The cause of the Great Depression was because people were borrowing too much money, unlike the Great Recession where the banks were lending too much money irresponsibly. Don’t forget that what was once a recession turned into the Great Depression because of unemployment rates reaching 25%, bank failures covering half of all banks, and more.
Both Roosevelt and Obama have used “wall street bankers” as a scapegoat.
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View more interesting facts about the Great Depression and Recession by viewing this infographic presented by Payday Loan.
Assessment
Do you think we are going into another Great Depression in 2022?
Conclusion
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Filed under: "Advisors Only", Experts Invited, Financial Planning, Glossary Terms, Voting Polls | Tagged: bank failures, David E. Marcinko, Great Depression versus Great Recession, unemployment, Wall Street | 20 Comments »
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