November 20, 2012

AMITY SHLAES: 2013 Looks a Lot Like 1937 in Four Fearsome Ways. “It’s hard to imagine stock indexes dropping by half today, or unemployment rising past 15 percent, as they did in the ‘depression within the Depression.’ But the parallels are visible enough to be worth tracing. They have to do with the danger of big government, and can be captured in a few categories.”