PastTense

Why We Couldn't Handle Another Depression

In the 30s, people spend a much higher percentage of their income on food and other necessities--now lots of people spend the bulk of their income on their fancy lifestyles. I just don't see the problem cutting--you just dump the fancy lifestyle and live within your means. Why would there be a widespread problem of homelessness? Probably now there is more than 4 times as much housing space per person as there in the 30s. So people could just move in with their parents or other relatives, rent out rooms in their big houses--and still be less crowded than people were in the 30s.

I really don't understand the arguments for depression. So a minority of the population over-extended themselves? So they will have to cut back. I just don't see the catastrophic effects on the rest of us.