The downturn following the collapse of Japan's so-called bubble economy of the 1980s was not as severe as the Great Depression.

Importantly, in the 1930s, in the Great Depression, the Federal Reserve, despite its mandate, was quite passive and, as a result, financial crisis became very severe, lasted essentially from 1929 to 1933.

If you want to understand geology, study earthquakes. If you want to understand the economy, study the Depression.

It took capitalism half a century to come back from the Great Depression.

During the Great Depression, levels of crime actually dropped. During the 1920s, when life was free and easy, so was crime. During the 1930s, when the entire American economy fell into a government-owned alligator moat, crime was nearly non-existent. During the 1950s and 1960s, when the economy was excellent, crime rose again.

The 24% unemployment reached at the depths of the Great Depression was no picnic.