A depression is not simply about bank failures. It is more about
the population at large and its ability to prosper. US has 305
million people. Large segments of it’s population have been wiped
out economically for years, cumulative effects. Without an ability to recover. The failure rate of banks is not good in itself. But when you add all the other factors and look at the economic condition of the population. The economic state of the US is in extremely poor shape.
[...] a link to an interesting chart that shows the history of US Bank Failures. Compared to the S&L Crisis in the late 1980’s it appears, from a bank failure point of view, [...]
A depression is not simply about bank failures. It is more about
the population at large and its ability to prosper. US has 305
million people. Large segments of it’s population have been wiped
out economically for years, cumulative effects. Without an ability to recover. The failure rate of banks is not good in itself. But when you add all the other factors and look at the economic condition of the population. The economic state of the US is in extremely poor shape.
Ben Case
July 8, 2009 at 11:04
[...] a link to an interesting chart that shows the history of US Bank Failures. Compared to the S&L Crisis in the late 1980’s it appears, from a bank failure point of view, [...]
Past is Prologue « The American Dream?
July 15, 2009 at 22:08