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March 25, 2020

Buddy, can you spare a dime? Echoes of '30s in viral crisis?

  • At least the government possesses more potent tools to stabilize the economy than it did in the 1930s, some economists say.
  • By MARCY GORDON
    AP Business Writer

    WASHINGTON — The imagery floats in sepia-colored photographs, faintly recalled images of bedraggled people lined up for bread or soup. Shacks in Appalachian hollows. Ruined investors taking their lives in the face of stock market crashes. Desperation etched on the faces of a generation that would soon face a world war.

    By now, it's hard to find someone whose grandparents are old enough to recall the suffering of the Great Depression or the stream of rescue programs the government unleashed in response to it. All but gone, too, are memories of President Franklin Roosevelt's “fireside chats,” his attempts to console an anxious populace and quell the “fake news” rumors of the day.


     
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