Doug Henwood wrote:
>
> On Jun 17, 2009, at 12:49 PM, C. G. Estabrook wrote:
>
>> Martin Wolf in the FT this morning summarizes work on the comparison
>> of the 1930s and the present: "The recession tracks the Great Depression"
>> <http://www.ft.com/cms/s/0/b31c06a2-5a7a-11de-8c14-00144feabdc0.html>.
>>
>> "The question is whether today’s unprecedented stimulus will offset
>> the effect of financial collapse and unprecedented accumulations of
>> private sector debt in the US and elsewhere. If the former wins, we
>> will soon see a positive deviation from the path of the Great
>> Depression. If the latter wins, we will not."
>>
>> Is that right? --CGE
>> ________________________
>
> Yeah.
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