Differences Between the Great Depression and The Great Recession

[Smaulgld]

The Great Depression taught savings- the Great Recession teaches speculation

20:00- 21:50 discussion how the stock market continues to rise on any news, good news, no news or bad news. The stock market is viewed as a barometer for the health of the economy. The current stock market is based on speculation. During the Great Depression, people learned thrift and savings. During the current Great Recession, people borrow and speculate.
http://youtu.be/015kuNVQrjc

Podcast Summary:
http://smaulgld.com/the-great-depression-vs-the-great-recession/

 

[ILUVRP]

during the great depression there was a very strong family grouping , where everyone lived very close and could help each other , if the same thing happened now it would be very bad as there is no massive strong family structure .

the current stock is being controlled by hedge funds , very little small buyers in the mkt except for their 401k mfr's , s and p avg goes up on light vol and down on heavy vol .

just my 2c

 

[Vanguard101]

During the great depression, I was not alive. During the Great Recession, I am here.

 

[Smaulgld]

good points

 

[Smaulgld]

there was no global warming during the great depression either

 

[mad cow]

there was no global warming during the great depression either

1934 was the hottest year on record in the USA.

There was also the 'Dust Bowl" drought.

 

[2young2vote]

How did my great grandparents learn to save when they didn't have any money to save?

They certainly did learn thrift, though. My grandfather, who was born just a few days before black Tuesday, had the morning chore of finding a piece of cardboard to put into the bottom of his shoe so he could walk to school. I'm not sure how people like my little sister would handle that kind of situation.

 

[oyarde]

The difference ? About five people for any one job , to about 6 people for any job modernly , larger rural communities that were more self sufficient , now , just a bunch of food stamp users . Commie population , probably 40 % higher , or more .