By Alan Caruba Pundits and experts of every description love to predict and pontificate. That they are often famously wrong doesn’t get the attention it deserves. The Great Depression began on October 29, 1929 with the stock market crash. On October 17th, Irving Fisher, a professor of economics at Yale University, said, “Stocks have reached…
Posts Tagged ‘ Depression ’
The Threat of a Global Financial Collapse
By Alan Caruba At present, the amount of the annual Gross Domestic Product, $14 trillion—the value of all the goods and services that generate income—is exceeded by the nation’s debts. America is presently $15 trillion in debt and it grows daily. In a November 21 Wall Street Journal interview, Erskine Bowles of the presidential advisory…
It Feels Like a Depression to Me
By Alan Caruba Between the time that George Washington took the first oath of office as president and when Barack Obama did—-1789 to 2009, the United States had borrowed nine trillion dollars. Since Obama took office, it has borrowed or imposed nearly three trillion more debt. Tell me he is not deliberately seeking to bankrupt…
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