Approximately one year from now, someone's going to ask me to review a book titled...
Category Everything Else
... something like The Great Depression 2.0: How America Avoided Financial and Economic Ruin In 2008. In it, they'll tell the "inside story" about the events leading up to the last two weeks on Wall Street, as well as an hour-by-hour account of all the backroom deals and discussions between the government and major financial institutions.
I'll likely criticize the book for having 20-20 hindsight, making some events look much more momentous and significant than they were at the time, while making other decisions look obvious now that the events have run their course.
But there will be one part of the book that I think will be chilling and scary, and will come as a surprise to the vast majority of the American public....
... and that's how close we likely came to a full-blown economic meltdown that would have made the bank runs during the Great Depression (1.0) look tame by comparison.
Of course, all this assumes that we actually *make* it through the next year relatively intact.
... something like The Great Depression 2.0: How America Avoided Financial and Economic Ruin In 2008. In it, they'll tell the "inside story" about the events leading up to the last two weeks on Wall Street, as well as an hour-by-hour account of all the backroom deals and discussions between the government and major financial institutions.
I'll likely criticize the book for having 20-20 hindsight, making some events look much more momentous and significant than they were at the time, while making other decisions look obvious now that the events have run their course.
But there will be one part of the book that I think will be chilling and scary, and will come as a surprise to the vast majority of the American public....
... and that's how close we likely came to a full-blown economic meltdown that would have made the bank runs during the Great Depression (1.0) look tame by comparison.
Of course, all this assumes that we actually *make* it through the next year relatively intact.
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