The Financial Crisis of hasn't yet become Depression 2.0 yet (that is a term from Paul Krugman), but references to The Great Depression are growing, beginning at the first of 2009. We are fearful of that term, fearful of what happened then, fearful of what may be in the future. Some are avoiding the D-word all together, using euphemisms like banana. The Great Banana? so typical of Americans who don't even like to talk about death). The Good Life stopped at the end of The Roaring Twenties, the Gilded Age. What will our era of the several decades of this bubble be called?
This photo shows a 1920s bank panic at Guaranty State Bank in downtown Fort Worth. A large mob of panicky depositors crowds around the Main Street entrance of the bank building.
Maybe people aren't rushing the banks as they did then, but I'm seeing signs of panic and grave, grave concern. Elderly people have lost their retirement savings, businesses are closing, jobs are hard to find and most everywhere I go people are talking about what they are noticing.
When the Mayor of Santa Fe held an open discussion meeting about the state of the economy here in Santa Fe, the venue had to be changed to the Convention Center downtown.
photo: From the Jack White Collection of Historic Fort Worth Photos, UTA