Is the crisis and recovery different this time?

No. Well. Yes and no.

Yes, because the way the downward trend started is different to the Great Depression and the Nikkei Crash. And Yes because the solution to recover from the last two will probably be different to this one – except that the answer to the last two were for governments to spend (read: take on massive amounts of debt), but in this case, that’s how this one got started.

And no, because it didn’t matter what governments did last time and it won’t matter what governments do this time – the recovery will come when it comes, and all that nasty debt has been washed out of the global economic system.


About Ed.

Digital, Search, Social leader.
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