A tale of two depressions ...
lots of extremely interesting charts at the link !
(snip)"World stock markets have rebounded a bit since March, and world trade has stabilised, but these are still following paths far below the ones they followed in the Great Depression.
There are new charts for individual nations’ industrial output. The big-4 EU nations divide north-south; today’s German and British industrial output are closely tracking their rate of fall in the 1930s, while Italy and France are doing much worse.
The North Americans (US & Canada) continue to see their industrial output fall approximately in line with what happened in the 1929 crisis, with no clear signs of a turn around.
Japan’s industrial output in February was 25 percentage points lower than at the equivalent stage in the Great Depression. There was however a sharp rebound in March. "(snip)
Re: A tale of two depressions ...
I wonder if "world charts" factored China into the equation- I did not see any individual charts for China- if factored in todays charts, but not 1930's, could they be the wild card in the mix now??
Re: A tale of two depressions ...
^^^ a valid point, but not an overriding one.
Re: A tale of two depressions ...
I believe the economic climate is vastly different from the 1929 Crash, even thought lack of government oversight and popular greed was the root cause of both. Any numerical similarities are purely coincidental. This is not a re-enactment. The similarities are incompetence, greed and fear.