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.