Interestingly enough, the current economic downturn that has caused lots of joblessness and misery the world over is mirroring some historic factors that suggest it might last a whopping 2 decades!
Source:
http://www.nationalreview.com/articl...n-matthew-lynn
Quote:
The question is whether we are going to witness another two-decade slump like the one that followed the 1873 crash.
Unfortunately, it is starting to look as if we might. The U.K. is already experiencing its longest depression since records began: The current downturn has lasted longer than the slump of the 1930s. Europe is heading for a deep depression next year as the austerity regime that will be needed for the euro to survive starts to bite. The U.S. will struggle to grow significantly. We are used to short, sharp recessions, because those were what we experienced for most of the 20th century. But it is now more than three years since the crash of 2008, and things are getting worse, not better.
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