{"id":2594,"date":"2014-12-07T13:53:53","date_gmt":"2014-12-07T18:53:53","guid":{"rendered":"http:\/\/olduvai.ca\/?p=2594"},"modified":"2014-12-07T13:53:53","modified_gmt":"2014-12-07T18:53:53","slug":"are-we-reliving-the-1930s","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=2594","title":{"rendered":"Are We Reliving The 1930s?"},"content":{"rendered":"<p><a href=\"http:\/\/www.forbes.com\/sites\/neilhowe\/2014\/11\/25\/are-we-reliving-the-1930s\/\">Are We Reliving The 1930s?<\/a>.<\/p>\n<p style=\"box-sizing: border-box; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 19px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; color: #000000; line-height: 25px; font-family: Georgia, 'Times New Roman', Times, serif; background-position: initial initial; background-repeat: initial initial; padding: 0px; margin: 0px 16.66666603088379% 19px 0px; border: 0px initial initial;\">At the close of last week\u2019s G20 Summit,\u00a0<a style=\"box-sizing: border-box; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 19px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; color: #003891; text-decoration: underline; background-position: initial initial; background-repeat: initial initial; padding: 0px; margin: 0px; border: 0px initial initial;\" href=\"http:\/\/www.theguardian.com\/world\/2014\/nov\/16\/david-cameron-third-eurozone-recession-g20-warning\">U.K. Prime Minister David Cameron warned that we\u2019re on the verge of another global recession<\/a>, citing problems like looming deflation, falling prices, and rising protectionist sentiment. This list evokes a sense of d\u00e9j\u00e0 vu: not about the Great Recession, but the Great<em style=\"box-sizing: border-box; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 19px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; padding: 0px; margin: 0px; border: 0px initial initial;\">Depression<\/em>. That was the last time we ever seriously worried about disinflation, along with every practically other aspect of economic performance raising alarm bells today: low interest rates, weak investment, slow productivity growth, and chronic labor force detachment.<\/p>\n<p style=\"box-sizing: border-box; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 19px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; color: #000000; line-height: 25px; font-family: Georgia, 'Times New Roman', Times, serif; background-position: initial initial; background-repeat: initial initial; padding: 0px; margin: 0px 16.66666603088379% 19px 0px; border: 0px initial initial;\">To be sure, this isn\u2019t an easy comparison to swallow. The Great Depression is the ultimate measuring rod of economic catastrophe to which every other downturn is compared. But as time goes by and forecasts of full recovery keep getting deferred like an ever-fading mirage, it\u2019s one worth examining. How does the Great Depression of the 1930s compare with the Great Recession of the 2010s? Let\u2019s look at the GDPs of the U.S., U.K., and continental Western Europe from 1929 on and from 2007 on, using the base year as an index.<\/p>\n<div><\/div>\n<div>&#8230;click on the above link to read the rest of the article&#8230;<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Are We Reliving The 1930s?. At the close of last week\u2019s G20 Summit,\u00a0U.K. Prime Minister David Cameron warned that we\u2019re on the verge of another global recession, citing problems like looming deflation, falling prices, and rising protectionist sentiment. This list evokes a sense of d\u00e9j\u00e0 vu: not about the Great Recession, but the GreatDepression. That [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[1730,344,353,383,384],"class_list":["post-2594","post","type-post","status-publish","format-standard","hentry","category-economics","tag-1930s","tag-g20","tag-gdp","tag-great-depression","tag-great-recession"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2594","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2594"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2594\/revisions"}],"predecessor-version":[{"id":2595,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2594\/revisions\/2595"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2594"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2594"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2594"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}