Boom and Boost: a Financial Phenomenon

A depression is primarily a financial phenomenon. The physical world will change very little because of it, although the way people relate to the world will change greatly. Somehow when we speak of real estate cokkapse people get the impression of buildings tumbling down. They won't, only their prices will. Just because corporations are bankrupted doesn't mean the factories they owned will vanish, or that their employees will forget all their skills and knowledge. Just because governments default on their bonds or the currency becomes worthless doesn't mean the country is bankrupt. It just means those who bought the bonds or held the currency are poorer.