More on Our Troubled Times

Every new day brings more insight and information on the ongoing economic collapse, and each day brings the threat of this economic recession nearing and becoming an economic depression more and more of a reality. Clearly bad times are here, and are here to stay for quite some time ahead. But how bad is it and how bad will it get? I am a pessimist, preferring to expect the worst and be pleasantly surprised when it does not happen; rather than a optimist, believing the best is going to happen, only to be deeply disappointed when it does not. My feelings and beliefs are that we will suffer through the worse economic downturn since the late 1930s and in my lifetime of over 50 years. But I do not believe we will get to a point that is comparable to and on a par with what happened and what was endured in the decade or so before the Pearl Harbor attack and America's entry into World War II in December 1941.

But increasingly, others are start to believe this economic downturn now underway in the US as well as globally will compare in many ways to The Great Depression, including by some eminent individuals. And some are seeing things as getting worse than that.

http://roguecolumnist.typepad.com/rogue_columnist/2008/12/worse-than-the-great-depression.html

http://robertreich.blogspot.com/2008/12/shall-we-call-it-depression-now.html

http://www.latimes.com/news/nationworld/nation/la-na-volcker8-2008dec08,0,1657062,full.story

http://www.rockymountainnews.com/news/2008/dec/08/tipton-phony-capitalism-put-us-where-we-are-today/

http://www.nytimes.com/2008/12/08/business/economy/08econ.html?em

http://www.theatlantic.com/doc/200811u/china-scrap-metal

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