What would a modern day Great Depression be like?

In October of 1929, the stock market crashed and many in Wall Street lost everything they owned. Some even jumped to their deaths similar to what we heard on the news recently of a rich couple massively in debt. read more

So a modern depression would still see super high unemployment, but there would be way more government handouts than there were in the 1930s. Also the demography of society has changed. People have way less children. read more

The Great Recession is very similar in origin, but the policy response was different from the Fed. Most modern day central banks have fiat currencies as opposed to currencies backed by precious metals (Gold, silver, animal pelt, etc.). read more

We saw unemployment rates of 25% during the Great Depression. In 1930, about 30% of the US workforce worked on a farm. Nowadays, less than 3% of the workforce lives on a farm. With modern technological advances, we actually are a much richer society. read more