I don’t know about you, but articles and advertisements everywhere are itching to get us to invest in gold and to fear the worst. Part of this is getting you to imagine what life was like during the Great Depression so that you never want to go through it. Pictures of soup lines that stretch for blocks, thinking about raising chickens for their eggs. While there may have been 20% unemployment, there was also 80% employment.
One of the thought experiments I’ve gone through to help me process what is going on is to try to imagine what it would look like to have the Depression happen today. We have put into place so many safeguards and automation that to try to visualize the depression like it was in the 1930s is to envision something that would never happen.
So what would it look like around the United States during another Great Depression?
I’m scared to say that I’m afraid it would look a lot like what we see today– because we do a much better job of hiding it.
I can’t count the number of times I’ve heard that you can make statistic say anything.