One of the biggest problems in understanding today's economic conditions is figuring out how to place the Bush-Obama bailouts in proper perspective.Comparisons with the Great Depression have become commonplace. Occasionally, for variety, we're told that the Panic of 1873 is relevant, or that the stagflation of the 1970s may have lessons to impart today.
Then there's Japan's circa-1990 crash and extensive experimentation with deficit spending and public works "stimulus," which ultimately left the Nikkei 225 average at less than one-quarter of its all-time low: 8,700 as of early Tuesday, down from an all-time high approaching 40,000 a generation ago. - CBS News Story
Makes a person wonder just how we plan to ever get out of this mess that Obama is creating. The man without a plan.
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