The Second Great Depression

I've been following Ed Schuster's analysis of the financial crisis and, unfortunately, I must agree with him that we are in the midst of the Second Great Depression.

Beyond fiscal stimulus, spending money to ease the banking crisis is also a major priority. Overall, the banking crisis is becoming worse. I really do not think most Americans understand just of serious of a situation we are experiencing. It might be that the American and global economy will experience 5 years of sluggish growth. I think it seems clear that we are entering the Second Great Depression.

Edmund W. Schuster