This post is a fascinating read on what causes depressions. The conclusions of this article are (b) we have met all the criteria of starting a depression and (b) Bernanke doesn't get any of this at all, so it can only prolongue the situation.
http://www.debtdeflation.com/blogs/2009/01/11/bernanke-an-expert-on-the-great-depression/
Joe
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