https://redstate.com/blackhedd/2010/06/28/has-the-new-great-depression-started-already/feed/Conservative News & Politicsen-usFri, 12 Jun 2026 07:58:41 -0400<![CDATA[Paul Krugman has just declared the onset of another Great Depression. To him a Depression is characterized by a long-term deflationary trap, but that’s not the reason Depressions are to be avoided. Depressions are bad because of long-term unemployment, which tears at people’s lives and at the fabric of society. So far, I’m with him. After all, to the best of my knowledge, I’m the first one to have used “Great Depression II” in print, back in autumn of 2007, when the stock market hit its all-time high and RedState readers responded by beating me up for bashing the Bush economic record.]]>Mon, 28 Jun 2010 08:26:50 -0400<![CDATA[Francis Cianfrocca]]>https://redstate.com/blackhedd/2010/06/28/has-the-new-great-depression-started-already-n35299