Global Economic Shock Worse Than Great Depression

Ryan Grim
HuffPost

April 7, 2009

The global economic collapse of the last several months is already greater than the shock that hit the world 80 years ago, triggering the Great Depression, two economists reported Tuesday.

But by focusing narrowly on U.S. economic metrics, policy makers have missed the depth of the crisis and are too optimistic about recovery, they argue.

"I do see green shoots -- not everywhere -- but certainly in some of the markets that we've been functioning in," Federal Reserve Chairman Ben Bernanke told 60 Minutes in March.