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Ever since the Great Depression, economists have known that demand shortages tend to persist in the wake of severe financial crises like the ones that happened in 1929 and 2008.
First and foremost, it's important to remember that, from my perspective at least, my most important legacy was making sure that the world didn't go into a Great Depression.
I don't think that any economist disputes that we're in the worst economic crisis since the great depression. The good news is that we're getting a consensus around what needs to be done.
Go home now, ” says I. “Keep away from the saloons. Save your money. You are going to need it.”“What are we going to need it for?” asks a voice from the crowd.“For guns and ammunition, ” says I.
What do you see out there?” I ask. “Pittsburgh, ” he replies. Now I laugh. “No, young man. What you see is hell with the lid taken off.” — Mother Jones