The 2008 Financial Collapse Was Worse Than 1929 |
|
June 23, 2014 |
June 2014 Bond Updates
|
Former Treasury Secretary Tim Geithner was full of the most intense fear that the financial and economic abyss of 2008 was going to collapse the system. He shocks us into the painful awareness that the financial meltdown was worse "than the one that had led to the Great Depression." He stunned me by asserting that "the percentage of household wealth lost would be more than five times worse than 1929." It's a terrible wake-up call to learn that the former Treasury Secretary "thought we were looking at another global depression that would hurt billions of people."
|
|
View more at: http://www.forbes.com/sites/robertlenzner/2014/06/22/the-2008-financial-collapse-was-worse-than-1929/
|