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Eye On Olympia

Posts tagged: Great Depression

This ain’t the Great Depression, Senate’s chief of staff says…

Rich Nafziger, the chief of staff for state Senate Democrats and a longtime Olympia school board member, has a personal blog that’s heavy on ruminations about the economy and the times.

In this recent post, Nafziger argues that “there are at least four good reasons to be optimistic.”

Among them: policy makers have far more economic tools to stave off a collapse. (As if to underscore this point: As I write this, state regulators are declaring the Bank of Clark County insolvent and appointing the FDIC to settle the bank’s accounts.)

Nafziger predicts that growth will resume “by mid-summer.” But click on the link and read the whole thing. You’ll feel a little better.

UPDATE: Yes this is a depression, says Sen. Pam Roach.

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Richard Roesler covers Washington state news from The Spokesman-Review's bureau in Olympia.

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