While I believe there is no evidence that a "1930's-like Great Depression" is in the offing, I can't recall a crisis in US financial markets as significant as this since the 1930's. The comparisons are premature but not unfounded.
my grandma can, but she does not have an account on hacker news. actually my great great grandfather made a fortune in the depression, well, immediately after it.
I agree it is an inapt comparison, but the article is a good read if you construe that phrase as "a really, really bad global recession" rather than an attention-grabbing historical reference.
But if true - will top hats be in fashion ? (or is my historical knowledge of fashion waaaay wrong). Could be a killer time to be in the top hat business.
I agree. Journalism shouldn't be about affecting the outcome of our subject. That's just what this and other crap that predicts the future does, it makes it that much more likely that it will happen. Financial markets are all about confidence, and if enough "journalists" predict this, it will happen. The ensuing panic will cause sell offs that will trigger a landslide.
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Is this Digg?
At what point do comparisons to Digg become more annoying than Digg itself?
I'd agree it's not even close to Hacker News per se, but this is a big enough deal I'd say it belongs.
The prediction of "a 1930s-like Great Depression" removes all credibility from the article. Why should I even continue to read after that?
While I believe there is no evidence that a "1930's-like Great Depression" is in the offing, I can't recall a crisis in US financial markets as significant as this since the 1930's. The comparisons are premature but not unfounded.
You can recall the 1930's? that is impressive ;)
my grandma can, but she does not have an account on hacker news. actually my great great grandfather made a fortune in the depression, well, immediately after it.
"a 1930s-like Great Depression" is a quote from an economist not a sensationalist spin put on the report by the journalist.
I agree it is an inapt comparison, but the article is a good read if you construe that phrase as "a really, really bad global recession" rather than an attention-grabbing historical reference.
But if true - will top hats be in fashion ? (or is my historical knowledge of fashion waaaay wrong). Could be a killer time to be in the top hat business.
/satire
I agree. Journalism shouldn't be about affecting the outcome of our subject. That's just what this and other crap that predicts the future does, it makes it that much more likely that it will happen. Financial markets are all about confidence, and if enough "journalists" predict this, it will happen. The ensuing panic will cause sell offs that will trigger a landslide.