Worse than the Great Depression (in Europe)
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From
this story
at Forbes by Neil Howe (of The
Fourth Turning fame) comes the rather surprising chart below showing how
the post-financial crisis economic recovery in Europe is trailing the
recovery after the Great Depression some eight decades ago.
 
Here in
the U.S., we’re ahead of the 1930s pace (and that chart is interesting as
well) but that has a lot to do with how severe the decline was after
the 1929 stock market crash. One often overlooked statistic from that era is
that the U.S. economy grew at an average annual rate of 8 percent starting in
1933, another reminder of just how severe the decline was.
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Tim Iacono is the founder of Iacono Research, a subscription service providing market commentary and investment advisory services specializing in commodity based investing.
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