The reason things aren't as bad as they were in the 30s is all the entitlements, govt spending and the actions of the Federal Reserve.

All of it on borrowed money of course, but shit sure looks better than the 30s, don't it?


I will agree with one major issue noted in the article, that being there may well be more than one path to a great depression scenario.

A lot has been learned since the 30s but it pays to remember that there are always unintended consequences.
We're 8 years into this and the central banks still can't raise interest rates for fear of plunging the entire world back into a recession within that depression; another 1937.
Some of those central banks have actually instituted negative interest rates. It will be interesting to see what the unintended consequences of those are.