Closing Sale! © Jim Korpi
Goody’s closed their doors on the familiar strip-mall street in Athens. Everything was for sale, including the mannequins.
I’ve often wondered what it would feel like on a day to day basis just before a depression. My brother, Paul, and I had a brief discussion about how this economic situation differs from that of the Great Depression. Stability of banks during that time were not backed by government programs such as the FDIC, started in 1933, which was to help prevent “bank runs.”
What I’ve been seeing on a local level is a very slow but drastic decline. Comparing the two economic situations seems almost like comparing two viruses. Both are potentially fatal, but the way they attack the body is different. One is more acute and spreads to vital organs quickly. The other starts with subtle symptoms. These symptoms go undiagnosed for years. Finally, by the time the doctor finds the problem, the virus has gone too far.