Just taking the catastrophic quake in Japan and comparing it to the large, but not quite as large quake that wrecked it's economy in 1995; that alone, by driving the Japanese economy into a tailspin (the lost decade) was enough to put the American economy (and indeed the world's) into recession.
Last week's larger shock by itself could do the same once again, I believe. But if you add to that oil shocks in the Middle Eastern questions and the political unrest throughout that region, and as if that is not enough, a government in Washington (and by that I mean both parties) seemingly rudderless and unable to move; am I wrong to suspect that the underpinnings of replaying the 1930's albeit in a more modern environment could be at hand?
Could someone please talk me down?