Doom!

An excellent comparison of the current economical crisis with the 1930’s crisis can be read in the New Republic:

»Doom! – Our Economic Nightmare Is Just Beginning«

Via Paul Krugman’s Blog.

Note:
Personally I am less in favour of deficit spending and more in favour of taxing the rich. Remember, the top tier income tax rate in the U.S. after the New Deal was more than 90% (applicable only for very large incomes, of course). I think this was essential for overcoming the Great Depression.