poisonwood's Diaryland Diary

Date: Aug. 03, 2008 . Time: 7:34 p.m.

the greatest depression Entry:

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the greatest depression

This article isn't about the economy or even the nation at large, but it highlights one of my pet peeves lately - economic alarmism. Everyone wants to say it's the next "Great Depr*ession." So far, it's not even a confirmed rececssion.

Great set of quotes:


“The budget I am presenting today,” Gov. Hugh L. Carey said in a speech in 1976, “demands that every state agency” must “alter those practices that have brought the public sector of this state to its greatest crisis since the Great Depression.”

Fast forward to 1991, when his successor, Mario M. Cuomo, said in a budget address that New York was confronting “fiscal problems more severe than any we have faced since the Great Depression.”

Not to be outdone, his successor, George E. Pataki, said in comments to reporters a decade later, “We are facing the most difficult financial situation in the state since probably before the Great Depression.”

7:34 p.m. - Aug. 03, 2008

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