History of economy would suggest that once every couple of generations there is a complete prosperity-depression cycle that occurs within the financial market, and economy as a whole. The last time this happened was in the 1920’s, and 30’s. It started with the Wall Street Crash of 1929, and then it moved through to the Great Depression and ended beyond World War II. The current global financial and economic situation resulting from crisis caused by the U.S. sub-prime market appears to be the start of one of these historic cycles at this point in the maturation of the human race. Despite the fact that U.S. economy is in recession, there are many contradictory opinions about another financial and economical crisis. The purpose of this blog is to clarify similarities and differences between the economical events in 1920's, and 30's with current global financial and economic situation. The twenties in America were a very good time. Production and employment were high and rising.
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