QE4 to continue
Today's Unusual Fiscal Policy: Japan

The Great Depression was Very Bad

One of my pet peeves is the myopic view that our most recent recession (the Great Recession) is comparable to the contractions of the 1930s (the Great Depression).  Photographs from the Depression era are very helpful in dispelling this misconception. 

Today's Mail Online published a series of poignant Walker Evans photos from the 1930s, which illustrate the extent to which life in the Depression era was completely different from life in the past five years.

I know the Great Recession was difficult for many and that long-term unemployment remains stubbornly high.  But let's not equate it to the Great Depression.  After all, according to this website, nearly 500 new Starbucks locations opened in the United States during the worst part of the Great Recession (between 2007 and 2009).