Robert J. Samuelson - A Depression? Hardly
The specter of depression stalks America. You hear the word repeatedly. Are we in a depression? If not, are we headed for one? The answer to the first question is no; the answer to the second is “almost certainly not.” The use of “depression” to describe the economy is a case of rhetorical overkill that speaks volumes about today’s widespread pessimism and anxiety. A short history lesson shows why.
Very good, laymans explanation.
Short URL for this post: http://tmblr.co/ZhCfay2bC3x
