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The Japanese slump of the '90s (while not a depression?) teaches a similar lesson. It's a period talked about in baleful tones, but measured by most reasonable standards Japan was still (so I gather) a very good place to live. ...
Read more...Twenty-Cent Paradigms: Global Rebalancing and the Depression
On his China Financial Markets Blog, Michael Pettis draws a parallel between the global imbalances of the depression and those today, with the US of the 1920's in surplus the country role played by China today: ...
Read more...New York - Tales of the New Depression II - Runnin' Scared ...
The New Depression is much easier to take in hypothetical form, as in this week's New York Times Freakonomics Quorum, in which heavy thinkers were asked what they'd do if they suddenly lost everything. We especially liked the plan of ...
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