The Economy - How bad is bad?

Unfortunately the economy in its current state is being compared to the great depression of 1873! The great depression started the exact same way as our current economy with the stock market crashing, Wall Street panicking and business shutting down across America.

Is it really fair to compare today to 1873? James Kolari, an economist disagrees with this comparison. His argument is that it is unfair to compare now to then because the federal government was fair more passive then they are today. Back then the federal government let 15,000 out of 30,000 banks fall!

But Nelson, a historian who has studied the panic of 1873, says today’s economy might even be worse than the American economy in 1873! It took America four years to recover in 1873 and current predictions for the current economy recovery is around 5 years!

Either way you look at it, it is not a good situation. My feeling is Obama brings hope. I am all for his $787 billion stimulation plan if it could possible helps the current situation! We are living in scary times and the best thing to do is have hope.