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Did the depression of 1929 affect the outside world more than the recession that we are in now? Ask a Question

Did the depression of 1929 affect the outside world more than the recession that we are in now?
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Maybe. Most of the manufacturing was still based in the The US and Europe in 1929. Those same manufacturing jobs are now located outside that bubble of relative wealth, replacing subsistence farming. And those jobs have disappeared in this depression.

2 Replies to dauguy's answer

China is looking at a 7% growth, quite remarkable as we tend to think of China as an export lead economy.

If you are interested in why the financial markets where about to collapse, google for "Fractional reserve banking"

I did so, back when the idea was first mentioned here (was that you? I seem to remember it that way). What a dirty little secret to keep from the people. JUST what one would expect of the power elites.

"Outside world"??

Outside of what?

You mean the outer space? Or maybe some xenophobic, self-centered, miopic, unnamed people?