As this tragedy of Covid-19 continues, I can’t help thinking of how the Great Depression of Aug. 29, 1929 to March, 1933 compares to our present situation.
The duration of the Depression was 43 months. Compared to three months here. The unemployment rate was 24.9%. New York State has a 12% unemployment rate, according to some sources. The decline of the global domestic product was 26.7%. The market did not recover until 1937.
Somehow we, our parents and our grandparents survived or we wouldn’t be here.
My condolences to the unemployed, the jobless and the families of the deceased.
But, to be repetitive, we will get through this and, as Governor Cuomo says, we are learning and will use this knowledge to make the future better.
Let’s also think about what we can learn from history and not give up hope.