Wednesday, 24 June 2009
A Tale of Two Depressions
As much as I like to be an optimist this makes it hard(er).
The comparison of 1929 and 2009 does not end at finding a "9" at the end of each year's figure; also brushing any comparison aside by declaring the world of '29 was "unprepared" and "not fully developed" in reality is a very counter productive argument: one could say that even though '29 had enormous economic potential lying ahead, it soon rang 1939.
While starting a war is always an option, 2009 sees the world having run out of the majority of comparably peaceful economic chances. Fully developed, few blank spots on the map, matured, over crowded, an inflation of crunches, black holes, bad and no banks, etc. - what and where are the options?
Could it be us for whom the bell tolls?