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Daily Reckoning/James Ricards/5-11-2020
“That crisis was severe, and of course trillions of dollars of wealth were lost in the stock market. That comparison is understandable, but it does not begin to scratch the surface. This collapse is worse than 2008, worse than the 2000 dot-com meltdown, worse than the 1998 Russia-LTCM panic, worse than the 1994 Mexican crisis and many more panics. You have to go back to 1929 and the start of the Great Depression for the right frame of reference.”
USAGOLD note: ……… And, you can go back to 1933 and Roosevelt’s New Deal for the right frame reference on the government’s response.