--- In FairfieldLife@yahoogroups.com, "shempmcgurk" <shempmcg...@...> wrote: > > --- In FairfieldLife@yahoogroups.com, "authfriend" <jstein@> wrote: > > > > --- In FairfieldLife@yahoogroups.com, "shempmcgurk" <shempmcgurk@> > > wrote: > > > > > > --- In FairfieldLife@yahoogroups.com, "authfriend" <jstein@> > wrote: > > > > > > > > --- In FairfieldLife@yahoogroups.com, "shempmcgurk" > > > > <shempmcgurk@> wrote: > > > > <snip> > > > > > I mean, hey, it's a lot better than the doom > > > > > and gloom coming out of the mouth of Barack > > > > > Obama and others, like George Soros, who keep > > > > > telling us this is going to be worse than the > > > > > Great Depression. > > > > > > > > Please supply some quotes to this effect. > > > > > > http://tinyurl.com/a9svlp > > > > > > "Soros said the turbulence is actually more severe > > > than during the Great Depression, comparing the > > > current situation to the demise of the Soviet Union." > > > > You need a quote from Obama and at least one other > > person to make it "Obama and others." > > No, Judy, the reference to Obama was to "doom and > gloom"; it was to "the others" that I was ascribing > the claim to "this is going to be worse than the > Great Depression." > > But Barky did say it was the worst since the Great > Depression, which is pretty close:
Not that close. "Worst since" means only that none of the recessions since the Great Depression has been as bad as this one. > http://tinyurl.com/crz9b7 > > As for one "other" of note who said it is worse: > Paul Volcker: > > http://tinyurl.com/ap3t45 Actually he said the deterioration in the economy *may be* taking place faster than it did in the Great Depression: "'I don't remember any time, maybe even in the Great Depression, when things went down quite so fast, quite so uniformly around the world,' Mr Volcker told a luncheon of economists and investors at Columbia University." And the comments of Bernanke you cited, BTW, weren't all that hopeful, as AP noted: "But he said there were significant risks to that forecast and any economic turnaround would hinge on the success of the Fed and the Obama administration in getting credit and financial markets to operate more normally again. "'Only if that is the case, in my view there is a reasonable prospect that the current recession will end in 2009 and that 2010 will be a year of recovery,' Bernanke said." As WSJ said, "But that's a mighty 'if.'"
