Bad news: we’re back to 1931. Good news: it’s not 1933 yet

Posted on January 27, 2009 by duo

Barack Obama inherits an economy already contracting at an annual rate of 6pc, much like the mid-Depression year of 1931 (-6.4pc), writes Ambrose Evans-Pritchard

Can we save ourselves from the wreckage of a Ponzi credit system?

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/4339501/Bad-news-were-back-to-1931.-Good-news-its-not-1933-yet.html

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