De Graaf

The Great Depression vs. Today's Economic Crisis

I see a lot of interesting comments but I didn't see this one passing by;

The situation now in relation with Japan is the fact that Japan had the wrong policies with a positive Rest Of World economy available for exports.
This time, the whole world is on its butt in recession. That gives a different recovery curve. Instead of a V-curve, you can expect an L or U-curve for the United States at this point in time.

Japan has got 'healthy' reserves and a better policy today. America is worst off this time because there just is no demand from other countries. The outcome looks awful, but so is the entire world economy in the coming years.

This, is a tough one to battle. Whatever the outcome, I expect to see a devaluation of the dollar currency or a severe deflationary period for the US. Either way, gold and silver assets will flourish to new highs.