Depression Fears Overblown

Riepe, Mark W.
December 2008
Journal of Financial Planning;Dec2008, Vol. 21 Issue 12, p32
Academic Journal
This article discusses the differences between the recession of 2008 and the Great Depression of 1929-1933. The economic strength provided by U.S. government activity through the U.S. Treasury and the Federal Deposit Insurance Corp. is assessed. The improved level of economic opportunity provided by globalization is also noted. The diversification of the U.S. economic base from a focus on industrial production to a mixture of industrial and service-based activities is also cited as a strength. The fact that U.S. firms did not hire an excessive number of new employees during the recovery from the 2001 recession is also noted as a factor that will mitigate the impact of the 2008 recession.


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