Great Depression Arbitrary Dismissals Can Be Very Dangerous

Here is an extremely shallow and brief article from Huffington Post writer, Daniel Gross.  The article is titled “Why all those Great Depression Analogies Are Wrong.”  I usually like the stuff at HP and Gross’s writings aren’t all that bad, but this article shines light on something that is very bothersome to me.

There are MANY people out there quickly dismissing how bad this is and is going to get – just because it doesn’t look exactly like the Great Depression.

Of course, there are differences.  In some respects, things may be a whole lot better.  In others, a TON worse.  But that is not the point.  We have to remember just how bad this financial crisis could get.  We shouldn’t focus all of our energy on it, but we need to understand where things went wrong and how to avoid them.  We need to know the history.

Remember, Warren Buffett called this a economic Pearl Harbor (this is an excellent interview with Charlie Rose…I encourage everyone to watch it at least once).  You can argue with the Oracle from Omaha, but I never will.  His track record is too good.

The more folks out there who simply dismiss this financial crisis and meltdown as a hiccup to our system, the more people out there will not act with a sense of urgency.

The more that happens, the more and more Daniel Gross will be proved wrong.  We should not scare anyone into inaction with the history and comparisons, but we need to respect it and hustle to attempt to avoid it again.

READ THE ENTIRE ARTICLE HERE.  (Don’t forget to read the comments on this…they are suprisingly good)