Reply #26: The US may indeed be teetering on the verge of another

[pampango]

Depression, though we have been saying that for a long time, but much of the world is doing quite well. A collapse here will hurt Europe and China/India/Japan/South Korea, but they all have much larger domestic markets than they did in the 1930's. Back then, when we cut off imports from the rest of the world, their economies collapsed just like ours.

Perhaps there should be two scenarios for 2008 - one in which your World Depression is apparent to all concerned (like it was in 1932) and another in which it is not (with the Repubs hoping that the dramatic collapse occurs under a Democratic president.)