the asx in 1929 ... the real story, page-12

"There is so very little in 1929 to compare to now, what is there to compare"

just a few things that are different this time around

1. they didn't believe in budget deficits in 1929

2. they actually raised interest rates at one stage

3. they didn't spend as much

economists seem to look at things like this - if private sector activity declines the public sector picks up the slack

Chief economist at NAB allan oster says the private sector has declined 2% and public sector has to spend 7%

the sort of money he is talking about is $15bn

did they do that in the Great Depression?

I doubt it