Dipping towards depression?

Back to my money theme, this story on CNN’s website caught my eye today. It’s written by Barry Eichengreen, a financial historian from UC Berkeley, who says we may be in a mess of trouble. Well, we already knew that, right? Eichengreen says usually when reporters come calling to ask if we could be headed for another Great Depression, he tells them no. This time, however, he’s not so sure.

I was going to attempt to explain the article and what all it means. But as I typed away it became increasingly clear that I don’t quite understand it all. Honestly, I passed an introductory microeconomics class by cramming for the final, and somehow muddled through a political science course once, and that is the extent of my credentials to be tackling this.

Instead of trying to sum up the article (and likely revealing my ignorance), I will recommend you read the article yourself. And do your homework about the economic crisis. I know it sucks, and our reflex might be to ignore it and hope it all blows over. But with the presidential election looming and this crisis hanging over our heads, we’d better figure out what needs to be done and who can get it done- and we’d better decide in a hurry.

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About Nicole

Daughter of God, wife, mother, volunteer youth leader, substitute teacher, aspiring writer, rabbit owner, nature lover. These are some of my titles.
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One Response to Dipping towards depression?

  1. Anonymous says:

    If you think the government should solve all your problems and think that socialism is a great idea, Obama is your man. If you love freedom, self reliance and good old fashion capitalism you might want to consider McCain.

    A recession is when your neighbor loses his job; a depression is when you lose your job.

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