Wednesday, April 29, 2009

Germany Remembers And Reflects On Tomorrow: 1929 & 2009's Frightful Twins

Current Crisis Shows Uncanny Parallels to Great Depression


Is history repeating itself? The current global downturn has many parallels to the Great Depression. And if the current massive bailout packages fail, the effect on the world's economies could be similarly drastic.

The Germans have always had a penchant for looking to America to gain a glimpse into the future.

They marveled at the Apollo 11 mission to the moon. They admired the gray but affordable Commodore personal computer. And they succumbed to the spell of an Internet company with the odd name of Google.

Will the current crisis be as bad as the Great Depression?

Now the Germans are looking across the Atlantic once again, but this time they see images that remind them of their own past, images of sad-looking people standing in long lines, hoping for work.

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