samuelson

I think the point that Samuelson is trying to make is that we really arnt in depression yet. we are on the decline, but it is not yet a depression. In the 1930's we had the Great Depression, this is no where near the Grweat Depression.

He does believe that this situation is similar, but also different in a lot of ways. Studies show that we have actually been through 10 recessions from the Great Depression to now, so in theory, this is somthing that we will come back from.

The stock market has only dropped 30 points from its peak compared to 90 points that it dropped during the Great Depression. The 700 billion dollar bailout program was designed to stabalize banks, so it should be nearly impossible to fall into a depression.