Home › Forums › Financial Markets/Economics › Volcker: Crisis May be Even Worse than Depression
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February 20, 2009 at 4:37 PM #351367February 20, 2009 at 4:40 PM #351240
DoJC
Participant[quote=kewp]Uh, how does ‘faster’ equal ‘worse’?
[/quote]
It doesn’t, nor is your take representative of what the article implies. The quote was [quote]”I don’t remember any time, maybe even in the Great Depression, when things went down quite so fast, quite so uniformly around the world,” [/quote]
Taken in context he’s saying two things are working together to make things worse: the rapid speed and scope of our current circumstances is worse than what happened during the Great Depression.February 20, 2009 at 4:40 PM #351273Participant[quote=kewp]Uh, how does ‘faster’ equal ‘worse’?
[/quote]
It doesn’t, nor is your take representative of what the article implies. The quote was [quote]”I don’t remember any time, maybe even in the Great Depression, when things went down quite so fast, quite so uniformly around the world,” [/quote]
Taken in context he’s saying two things are working together to make things worse: the rapid speed and scope of our current circumstances is worse than what happened during the Great Depression.February 20, 2009 at 4:40 PM #351114Participant[quote=kewp]Uh, how does ‘faster’ equal ‘worse’?
[/quote]
It doesn’t, nor is your take representative of what the article implies. The quote was [quote]”I don’t remember any time, maybe even in the Great Depression, when things went down quite so fast, quite so uniformly around the world,” [/quote]
Taken in context he’s saying two things are working together to make things worse: the rapid speed and scope of our current circumstances is worse than what happened during the Great Depression.February 20, 2009 at 4:40 PM #350801Participant[quote=kewp]Uh, how does ‘faster’ equal ‘worse’?
[/quote]
It doesn’t, nor is your take representative of what the article implies. The quote was [quote]”I don’t remember any time, maybe even in the Great Depression, when things went down quite so fast, quite so uniformly around the world,” [/quote]
Taken in context he’s saying two things are working together to make things worse: the rapid speed and scope of our current circumstances is worse than what happened during the Great Depression.February 20, 2009 at 4:40 PM #351372Participant[quote=kewp]Uh, how does ‘faster’ equal ‘worse’?
[/quote]
It doesn’t, nor is your take representative of what the article implies. The quote was [quote]”I don’t remember any time, maybe even in the Great Depression, when things went down quite so fast, quite so uniformly around the world,” [/quote]
Taken in context he’s saying two things are working together to make things worse: the rapid speed and scope of our current circumstances is worse than what happened during the Great Depression.February 20, 2009 at 5:49 PM #351280patientrenter
Participant[quote=peterb]The only guy at this level of govt with enough balls to say what they all know. I guess that’s one of the good things about getting elderly.[/quote]
Sometimes I think he’s the only guy even close to power who actually knows what’s really happening, and what needs doing. Maybe a few others know too, but they are too selfish or too cowardly to say it.
February 20, 2009 at 5:49 PM #351313Participant[quote=peterb]The only guy at this level of govt with enough balls to say what they all know. I guess that’s one of the good things about getting elderly.[/quote]
Sometimes I think he’s the only guy even close to power who actually knows what’s really happening, and what needs doing. Maybe a few others know too, but they are too selfish or too cowardly to say it.
February 20, 2009 at 5:49 PM #351412Participant[quote=peterb]The only guy at this level of govt with enough balls to say what they all know. I guess that’s one of the good things about getting elderly.[/quote]
Sometimes I think he’s the only guy even close to power who actually knows what’s really happening, and what needs doing. Maybe a few others know too, but they are too selfish or too cowardly to say it.
February 20, 2009 at 5:49 PM #350841Participant[quote=peterb]The only guy at this level of govt with enough balls to say what they all know. I guess that’s one of the good things about getting elderly.[/quote]
Sometimes I think he’s the only guy even close to power who actually knows what’s really happening, and what needs doing. Maybe a few others know too, but they are too selfish or too cowardly to say it.
February 20, 2009 at 5:49 PM #351154Participant[quote=peterb]The only guy at this level of govt with enough balls to say what they all know. I guess that’s one of the good things about getting elderly.[/quote]
Sometimes I think he’s the only guy even close to power who actually knows what’s really happening, and what needs doing. Maybe a few others know too, but they are too selfish or too cowardly to say it.
February 20, 2009 at 7:14 PM #351348kewp
Participant[quote=DoJC]
Taken in context he’s saying two things are working together to make things worse: the rapid speed and scope of our current circumstances is worse than what happened during the Great Depression. [/quote]And again I have to disagree. *In my opinion*, the faster the collapse the faster the recovery. The economy is bigger and more efficient than it was 70 years ago so its not surprising the speed/scope are bigger as well.
And come on now, really. The stock market can only decline so much and unemployment can peak at what, maybe 30% before the rich people realize they are going to have to start growing their own food if they don’t spend money?
February 20, 2009 at 7:14 PM #351447Participant[quote=DoJC]
Taken in context he’s saying two things are working together to make things worse: the rapid speed and scope of our current circumstances is worse than what happened during the Great Depression. [/quote]And again I have to disagree. *In my opinion*, the faster the collapse the faster the recovery. The economy is bigger and more efficient than it was 70 years ago so its not surprising the speed/scope are bigger as well.
And come on now, really. The stock market can only decline so much and unemployment can peak at what, maybe 30% before the rich people realize they are going to have to start growing their own food if they don’t spend money?
February 20, 2009 at 7:14 PM #350875Participant[quote=DoJC]
Taken in context he’s saying two things are working together to make things worse: the rapid speed and scope of our current circumstances is worse than what happened during the Great Depression. [/quote]And again I have to disagree. *In my opinion*, the faster the collapse the faster the recovery. The economy is bigger and more efficient than it was 70 years ago so its not surprising the speed/scope are bigger as well.
And come on now, really. The stock market can only decline so much and unemployment can peak at what, maybe 30% before the rich people realize they are going to have to start growing their own food if they don’t spend money?
February 20, 2009 at 7:14 PM #351315Participant[quote=DoJC]
Taken in context he’s saying two things are working together to make things worse: the rapid speed and scope of our current circumstances is worse than what happened during the Great Depression. [/quote]And again I have to disagree. *In my opinion*, the faster the collapse the faster the recovery. The economy is bigger and more efficient than it was 70 years ago so its not surprising the speed/scope are bigger as well.
And come on now, really. The stock market can only decline so much and unemployment can peak at what, maybe 30% before the rich people realize they are going to have to start growing their own food if they don’t spend money?
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