There has been much comparison of the United States' current economic woes to the Great Depression of the 1930s. From the current president to the potential new president, it’s been widely quoted that America has not seen such instability since the stock market crash of 1929. Meanwhile, others say the current situation is so unique as to be incomparable to any recession, downturn or depression to date.
But, as CNN.com reports, lessons can be gleaned from the past, especially for business owners. And the top lesson seems to be not taking out a line of credit without a clear plan and timeline for paying it back.
Source: CNN.com, “Great Depression Holds Lessons For Surviving Tough Economy”
