The Great Depression consisted of many crashes. The first crash is what you hear about the most. It's the one that most policy wonks, pundits, and politicians get moist about. However, the events AFTER the first crash SEALED OFF the possibility of a quick reversal (like the Great Crash of 1920 got reversed after a few months). What happened?
The smoot-hawley act. In other words, a TRADE WAR the US engaged in.
Is it doing the same thing with this:
http://news.yahoo.com/china-us-curre...090135830.html ?
Learn from history and given the stakes involved, and given the current trends we are looking at at least 3 great recessions. We already had 1 and now we're entering into the second one.
Will the looming CURRENCY WAR cement our economic slump into a GLOBAL DEPRESSION that will last until 2020 and beyond?
