The experience of the 1930s makes me think that the present downturn will be relatively long and difficult.
Today I am celebrating my 80th birthday, an age that seems less formidable when one has reached it than when one can see it only from afar.
I was born on July 14, 1928, about 15 months before the American boom of the 1920s came to its rather abrupt end. Like everyone else, I am naturally curious to see whether the global credit crunch is going to be a brief interruption in global prosperity, or the prelude to a longer and deeper depression.
I cannot claim to have clear memories of the 1929 Wall Street Crash, which occured when I was 1year old, or of Britain leaving the gold standard in 1931, when I was 3 years old.
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Tags: Bankers, Depression, Economic meltdown
