• [stock-market-ticker symbols="AAPL;MSFT;GOOG;HPQ;^SPX;^DJI;LSE:BAG" stockExchange="NYSENasdaq" width"100%" palette="financial-light"]

    Bernanke: Coronavirus Disruptions ‘Much Closer To A Major Snowstorm’ Than The Great Depression

    March 25, 2020
    No Comments
    Bernanke: Coronavirus Disruptions ‘Much Closer To A Major Snowstorm’ Than The Great Depression
    Image by Gage Skidmore

    Ben Bernanke, the former Federal Reserve chairman who served before and after the 2008 financial crisis, told CNBC on Wednesday the coronavirus economic halt is more like a “major snowstorm” than an economic depression.

    “This is a very different animal than the Great Depression,” Bernanke stressed. “The Great Depression, for one thing, lasted for 12 years, and it came from human problems: monetary and financial shocks that hit the system.”

    “This has some of the same feel of panic, some of the feel of volatility,” he said in a “Squawk Box” interview. “It’s really much closer to a major snowstorm or a natural disaster than it is to a classic 1930s-style depression...”

    SHARE THIS ARTICLE

    Author

    CDM Staff

    The mission at Creative Destruction Media is to be the catalyst for the "process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one."
  • Subscribe
    Notify of
    guest

    0 Comments
    Inline Feedbacks
    View all comments

    FOLLOW US

  • Subscribe to our evening newsletter to stay informed during these challenging times!!

    ×