Monday, November 24, 2008

Depression and the current scenario

depression in 1929 happened because of drought and not because the stock market tanked. It was largely an agrarian economy then and drought obviously led to what it led to. To compare that situation with todays isn't really the right way to look at it.
It will take some time (?) to ride out the current storm - the concerted global action will have its effect. The system needed to be shaken and thats whats happening so let there be only depression in history - we are fine with one reference point.

will try to look for more on the topic and post. Till then lets keep working hard and not lose our job. Do value added work, try not to get irritated by what your boss says etc etc

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