Article: Is it return of the Great Depression of 1929 for US

[EastSider]

Is it return of the Great Depression of 1929 for US?

New York: What is happening to the US economy? Has the wide-scale outsourcing of businesses, losses suffered by the US economy in Iraq War, the arrival of the 'third world countries' on the global business scenario — hit the US economy so hard that it's heading towards crisis akin to a Great Depression of 1929?

"May be", say the analysts who can trace an alarming trend that show, US economy undergoing similar predicament as witnessed during 1929-30 — the period when the country was in the run up to the World II.

At present, the US stock markets are facing liquidity crisis. The European markets took a nosedive on Thursday, much to the horror of investors groups who are still recuperating the losses suffered due to the freeze put on three major hedge funds by France's largest bank BNP Paribas.

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