Tuesday, October 21, 2008

Panic, not depression

And I mean that in the most positive sense of the word.

In today's Globe and Mail, there's an excellent opinion piece by Richard Ivey School of Business professor George Athanassakos, who uses a historical context to explain why we may be in the midst of an economic panic, but are nowhere near another 'great depression'. In his view and in light of what governments and financial leaders are doing to address the situation, we are not likely to get t0 that dire point, either.

Amid the turmoil, it's a comforting thought.

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