November 23rd, 2008

I have read some expert commetaries, magazine articles, and newspaper columns that compared the current state of the economy with the great depression - but none (of these articles) provided compelling empirical evidence. There were some vague comparisons to stock market declines, bank runs, and the high unemployment rates - but no clear numbers on the scale.

When things are going well, none of these newspapers tried pushing articles from the naysayers, and I think the same is happening for the optimists these days. It is amazing how group think and herd mentality effects every profession.