the current economic woes look a lot like what my 96-year-old grandmother still calls “the real Great Depression.” She pinched pennies in the 1930s but she says that times were not nearly so bad as the depression her grandparents went through. That crash came in 1873 and lasted more than four years. It looks much more like our current crisis (ChronicleReview.com).
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“Holders of currency hoard it as they did gold in former experiences of a like nature…”, indeed they still are 🙂