I like the summary in the link below. What got me was the similarity to today’s events - the drip, drip of bad news that went on for years. Discounter Woolworth’s was one of the few retailers to make a profit in 1932. Change the name to Walmart and a few other name overlayed over events and you would be surprised at how much of a similar track we are on.
http://www.futurecasts.com/Depression_bottom-1932-1933.html
How bad can it get? below link is one Argentine’s experience. I do not think myself that it will get as bad a Argentina. The fed will print it’s way out, if they are lucky let everything deflate a bit then kickstart the economy with inflation and the dollar will be half or 1/4 of what it’s worth today. Inflation people get used to it. The dollar dropped 30% since 2001 ala Greenspan’s cure for dot.com bust, 9/11. They call it the soft landing. I am all cash and it’s out of the country and out of the USD. If it all works out I am OK if it does not work out at least I’ll have a shot at preserving something.
http://www.backpackfever.com/2008/01/21/survival-after-economic-meltdown/