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I’ve seen posts that display an almost arrogant sense of confidence that “there can never be another depression” because the mythical monetary base is expanding dramatically (btw - go check the charts on monetary base right before the depression and you’ll see nearly a direct match to today).
I wish I could feel so confident. [...]

11/12/2008 04:40:00 PM
Upping the ante on JPMorgan’s CEO Dimon and Merrill’s CEO Thain (see previous post), former Goldman Sachs chairman John Whitehead is quoted as saying the current slump will be worse than the Great Depression!
From Reuters: Whitehead sees slump worse than Depression (hat tip Rex Nutting)
The economy faces a slump deeper [...]