Written by Timothy Blake on July 28, 2007 under Archives, Economic Impact
As the United States mortgage market spirals out of control intelligent minds consider whether the US economy is headed into a recession or a depression. Studies of the 1929 stock market collapse and the depresssion show that the economy functioned and all appeared normal in that regard. Depression studies show, however, that the economy functioned at such a low level that it was like an 8 cylinder engine running on 4 cylinders.
