“History does not repeat itself...but if often rhymes” - attributed to Mark Twain In the decade leading up to the crisis the Federal Reserve cut interest rates, and unemployment descended to near-record lows. At the same time corporate debt surged, and the U.S. pursued protectionist tariffs. Then the Great Depression occurred. The 1920s uncannily parallel our past decade, therefore it is instructive to compare today’s COVID Crisis to the Great Depression (beginning in 1929). We will also compare it to the recent Great Recession (beginning in 2007). The table below reveals that the COVID Crisis is more damaging to the Global and United States economy than the Great Recession, and of a similar magnitude to the Great Depression: 1 No reliable annual worldwide data exists for the Great Depression. Source for World Product during the other periods: International Monetary Fund 2 Sources: International Monetary Fund , World Bank 3 Source