Stock Crash And Bank Failures, Yet There Wasn't A Second Great Depression; But Why Not?
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Are stocks a useful indicator of recession? How about depression? If they were, they can't explain how there wasn't a Great Depression 2 in the late 80s. After all, there were hundreds of bank failures, especially after the Crash of '87. Yet, we remember that period of time fondly as the Great "Moderation", a prolonged age of unrivaled global prosperity. The differences btw the 80s and 30s tell us a lot about our chances in the 20s.
Video Length: 00:19:38
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