-Cp
03-26-2009, 03:34 AM
NEW YORK (CNNMoney.com) -- Is this the worst economy since the Great Depression? And what are the chances of the economy falling into another depression?
The answer to the first question is fairly clear. In most ways that matter to economists and average Americans, this is the worst economic crisis since the Depression.
The answer to the second question is not as clear. While the National Bureau of Economic Research officially declares the beginning and end of recessions, nobody does that for depressions.
Still, the general consensus of economists is that another depression is not likely. But the risks are greater than they were only a few months ago.
Read the rest:
http://money.cnn.com/2009/03/25/news/economy/depression_comparisons/index.htm
The answer to the first question is fairly clear. In most ways that matter to economists and average Americans, this is the worst economic crisis since the Depression.
The answer to the second question is not as clear. While the National Bureau of Economic Research officially declares the beginning and end of recessions, nobody does that for depressions.
Still, the general consensus of economists is that another depression is not likely. But the risks are greater than they were only a few months ago.
Read the rest:
http://money.cnn.com/2009/03/25/news/economy/depression_comparisons/index.htm