Re: [Pen-l] Great Depression III??

[Carrol Cox <cbcox@xxxxxxxxx>]

Jim Devine wrote:
> 
> Commentary: Is this the start of another Great Depression?
> 
> Eichengreen: Serious mistakes were made by policy makers in Depression
> Today's leaders know the lessons of the Depression, he says
> Still, events are rapidly overtaking the resources of the central banks, he says
> 
> Eichengreen: The problem can't wait until Inauguration Day to be solved

All discussions I've seen simply take for granted that it is strictly a
financial crisis and can or should be resolved within the financial
system. Could it be that the financial crisis is 'merely' (?) an
expression of a 'deeper' crisis, and that purely financial actions
cannot touch it?

Carrol

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