Even Worse Than the Great Depression

Smart Money ^ | March 6, 2009 | Donald Luskin

[FocusNexus]

So let me do the preachers of Armageddon one better. Today's stock market isn't just the “worst since the Great Depression,” like they're so fond of saying. No, it's even worse than the Great Depression.

Take a look at the chart, below. It shows the daily progress of the S&P 500 in terms of percentage change from the very top. The brown line is the change from the recent all-time highs on October 9, 2007. The blue line is the change from the all-time highs just before the Great Depression, September 6, 1929.

As of yesterday's close (Thursday, March 5), the S&P 500 has lost 56.4% from its all-time highs 513 days ago. At the same point in the bear market associated with the Great Depression, that is at the 513 day mark, the S&P 500 had only lost -- only! -- 49%.

[FocusNexus]

[bigcat32]

Welcome to the Great O-Pression.

[TAdams8591]

Clever.

[FocusNexus]

Is It Any Wonder The Market Continues To Sink?-IBD, Feb. 20, 2009

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[ConorMacNessa]

We're in the Obama Depression.

Lamh Foistenach Abu!

[Lazamataz]

No matter how bad he says it is, it will be 1,000,000 times worse.

Radioactive mutants. Radroaches. A barren wasteland with scorched trees and horrid scrub brush will hid the mangled corpses and gnawed bones of the lucky -- those who died early.

This is the reality. We will scavange bent-tin cans for a few coins, as the radioactive wind howls over us. Get used to it.

[FocusNexus]

FDR’s policies prolonged Depression by 7 years, UCLA economists calculate

http://newsroom.ucla.edu/portal/ucla/FDR-s-Policies-Prolonged-Depression-5409.aspx

“The fact that the Depression dragged on for years convinced generations of economists and policy-makers that capitalism could not be trusted to recover from depressions and that significant government intervention was required to achieve good outcomes,” Cole said. “Ironically, our work shows that the recovery would have been very rapid had the government not intervened.”

[Enterprise]

Obama is succeeding!

[goodnesswins]

I'm trying to figure out how NOT to PARTICIPATE........crickets.....

[HoosierHawk]

And if our government had learned anything from the "Great Depression," they'd be cutting taxes all over the place.

Reagan did it, but, hey, liberals hate him.

I was there and Reagan's plans worked. Obama's an idiot.

[Lazamataz]

Barack Obama welcomes you into the Oval Office.

[null and void]

I’m stealing that.

[mowowie]

Is that Fallout?

If it is i got it, how is it?

[Boucheau]

[null and void]

...cats sleeping with dogs...

[BunnySlippers]

Bump

[Enterprise]

LOL. You got some great pictures there of my old neighborhood.

[bigcat32]

“I’m stealing that.”

Spread the sentence. It’s catchy, it’s appropriate and I stole it.

[null and void]

You bet!

[FocusNexus]

From the UCLA professors' study:

"Why the Great Depression lasted so long has always been a great mystery, and because we never really knew the reason, we have always worried whether we would have another 10- to 15-year economic slump," said Ohanian, vice chair of UCLA's Department of Economics. "We found that a relapse isn't likely unless lawmakers gum up a recovery with ill-conceived stimulus policies."

And guess what the Dems are doing-- exactly enacting "ill conceived stimulus policies" that prolonged the great depression and is pushing us into a "greater depression" right now.

The worst part is that most people don't understand what Obama is doing to us, they still cling to him as a "savior".