Should people really possibly prepare for a second Great Depression?
America’s Second Great Depression is not a typical 20th century recession that happens to strike a bit harder or linger somewhat longer. Nor is it merely a fictional scenario conjured up by economists with a murky crystal ball. America’s Second Great Depression is the probable consequence of a great housing bust, a massive mortgage meltdown and the biggest financial crisis in history. It promises to bring the worst wave of bankruptcies, job losses and wealth destruction any citizen under 90 has ever experienced. It challenges the smartest minds in Washington, defies the deepest pockets on Wall Street and threatens to rip through our life with the force of a Cat-5 hurricane. And yet, among all those making the decisions that could forever change our future, no one has personal experience with a similar episode. I don’t either. I was born in 1946, just as we were leaving the final vestiges of America’s First Great Depression behind. I’ve studied that historic period with books, charts an
