Thursday, November 24, 2011

They Didn't Know It Was the Great Depression

Some historical perspective from the Federal Reserve Bank of Cleveland...
"During the Great Depression, people did not know it was the Great Depression. The Great Depression evolved and was characterized by episodes of expansion and subsequent relapse."
Source: Federal Reserve Bank of Cleveland, "How the Recession May Change America," by Mark S. Sniderman, Forefront, Fall 2011

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