I can assure you that as bad as we are now we are much better off than then. Just look at the stock market and the fact that we have had no major bank collapses since then and the auto industry is back on its feet.
Baseman, please. Looking at the stock market tells you zero about the economy. You might as well look at Caesar's Palace. The reason we have had no major bank collapses is because of hyper-inflationary bailouts, culminating in the latest decision by the Fed to purchase $40 Billion per month of absolutely worthless crap from the megabanks, which is simply like giving them Christmas once a month. This will wipe out what little value the dollar has, while doing absolutely nothing for the economy. Imagine what could be done with that amount of money going into infrastructure. New York City could be saved, and people could have jobs. It's really rather silly to argue Republican vs. Democrat at this juncture -- they are both insane.
Henry, I don't think that was my post. I don't equate the stock market with the main street economy and the Auto industry would have been back even in a "managed bankruptcy" as some had proposed.