[pabianice]

Pretty bleak assessment. I'm no economist but I have to ask if the writer is ignoring a fundamental difference between 2007 and 1937 a la a world economy that did not then exist.

[Hydroshock]

bookmark

[Jeff Head]

I believe the similarities between now and 1937 are much more related to the rise of deadly enemies adversaries (Militant Islam and Red China) similar to the fanatic impiralists and fascists of that era more than anything else.

[2banana]

You mean at the end of the depression...?

Let's see - the average working joe in 1937 had NOTHING and was happy to feed his family that week. The average working joe in 2006 has a car, house, computer, TV, phone, internet, lives 20 years longer...(getting the point?)

[Dutch Boy]

After reading this I have more work to do. If I'm not in the top 1% there is still room for improvement.

All kidding aside, it's not what you make, it's what you end up with. If I make $1,000,000 per year and spent $1,500,000 a year (as some celebrities seem to do) you will be worse off than making $50,000 per year and spending $40,000.

[rellimpank]

-b-

[nctexan]

Kinda worthless comparison of the 'average' masses in 1937 and today. I'm quite certain that the 'average' family of today has much more than that of 1937. In home ownership, clothing, food, medical, vehicles, and luxury discretionary spending.

This is a typical headline quote that strikes a chord until you examine the substance.

By the way, everyone knows that the situation of those 'in poverty' (western world) is far above that of the past.

[EGPWS]

Not since 1937 have the richest 1% of Americans been so far above the average citizen in assets and earning power as today.

It's portrayed as though 99% of us are poor and destitute.

I'd much rather be considered poor nowadays than considered being rich in '37.

[RobRoy]

There are a lot of differences - we are not seven years into a great depression, for example.

I think what he is pointing out though are the similarities. The really should not be ignored.

[DManA]

The people of 1937 weren't victims of income disparity. They were victims of insane Federal Reserve policy.

[gcruse]

"1937 to 2007,could not seem more familiar or dooming."

Meet Debbie Downer's love child.