http://www.fool.com/investing/general/2011/12/13/what-the-great-depression-did-that-this-recession.aspx
One of the most important things about the Great Depression was not how bad it was, but how long it lasted. The downturn itself was 10 years long, but the impact it had on how people lived lingered for decades. Well after the Depression ended, households shunned debt, loved saving, and were wary of risk -- a mentality that lasted until the 1980s, when those who lived through the Depression retired.
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Note that this isn't the total number of bankruptcies, but bankruptcies per 1,000 people, making it a true apples-to-apples comparison over time.
What it shows is clear: Personal bankruptcy during the Great Depression was virtually unheard of; today it's an everyday occurrence. About the same number of people were awarded bachelor degrees last year as filed for personal bankruptcy (1.6 million).
(The entire article is worth reading. Zim.)
Mad Poet Strikes Again.
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