Depressions Depress

Here’s a lively little tidbit from someone who is, I think, still a billionaire:

Depression? That’s not even the half of it, according to billionaire George Soros.

“The size of the problem is even larger than it was in the 1930s,” writes Soros on the Huffington Post Web site.

“Total credit outstanding was 160 percent of GDP in 1929, and it rose to 260 percent in 1932 due to the accumulation of debt and the decline of GDP.

Comparatively, we entered into the Crash of 2008 at 365 percent, which is bound to rise to 500 percent or more by the time the full effect is felt.”

Source: “Soros: This is Bigger Than Great Depression”

But, hey, there’s been an increase in vegetable seed sales.

Gardening is not only good for the pocketbook, it’s good for the soul.

Cassandra

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One Response to “Depressions Depress”

  1. Neighbor Nancy Says:

    Sure is! Just don’t forget to get your canning supplies before the rush of newcomers this up coming fall.

    My mom claims there was a lid shortage in the seventies.

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