What Would a Depression in 2009 Look Like?
November 18, 2008
A thought-provoking (and depressing) summary from The Boston Globe:
The lines wouldn’t be outside soup kitchens but at emergency rooms, and rather than itinerant farmers we could see waves of laid-off office workers leaving homes to foreclosure and heading for areas of the country where there’s more work - or just a relative with a free room over the garage. Already hollowed-out manufacturing cities could be all but deserted, and suburban neighborhoods left checkerboarded, with abandoned houses next to overcrowded ones.
What’s your take? Are we heading towards a Depression next year?
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