The Next Great Depression?
Could the coronavirus lead us into a disaster on the scale of the 1930s?
Three weeks ago, hedge fund bear Kevin Smith declared: “US stocks are in a true mania. They have only just begun to unwind. This is 1929.”
“This is 1929” means two distinct things — a market crash of massive proportions and a prolonged bear market. The Depression was marked not only by a deep bear market but profound…