Home > Eurozone Crisis > The Second Great Depression—in Europe

The Second Great Depression—in Europe

from David Ruccio

We can now add Ryan Avent to the list (short as it is) of those who are coming to recognize that we’re in the midst of the Second Great Depression.

Despite the nastiness of the economic picture, the ECB is widely expected to take no action at its meeting tomorrow. The euro area is walking, eyes wide open, into depression. Led by its periphery, which is already there.

Most everyone seems to have convinced themselves that this sort of thing isn’t so bad, so long as a Lehman-like financial collapse is avoided. It isn’t. Nothing good will come of a euro-zone depression.

About these ads
Categories: Eurozone Crisis
  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow

Get every new post delivered to your Inbox.

Join 10,755 other followers