Samuelson's Point

Samuelson believes that we are not yet in a depression, just a recession. Sure we are on the decline, but we aren't even close to how things were during the Great Depression of the 1930's. He believes that it is similar in alot of ways, but it also has its many differences. Studies show that we have actually been through 10 recessions from the Great Depression to now, so really its most likely something 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, therefore it should be nearly impossible to fall into a depression.