This chart is from Zero Hedge, which says rightly that many indicators suggest that the world's economy is actually at its worst since the Great Depression, but also that the UK has a worse economy than during the Great Depression. It relies on charts like this...
And this to apply the same thesis to Europe.
Zero Hedge is bang on in noting that the recovery since 2009 has been slower than after the onset of the Great Recession. But this is actually WORSE anywhere than the Great Depression?
Zero Hedge notes this for the US experience...
Zero Hedge quotes prognosticators who suggest that we are actually in a depression now....the "longest depression". Note how, in the chart they provided above, they conveniently neglect the period from 1929 to 1933. The US economy declined by over 25% between 1929 and 1933. That was a DEPRESSION! Out another way, if they were to start the chart at the beginning of the Great Depression, there was no recovery to 1929 levels for 6.5 years, as 1933 isn't "100", it is "75.
There has been a slow recovery since 2009. There is a solid argument that, considering all the stimulus still in the system and how it has not worked but has only buttressed a weak world economy, that the Great Recession actually never ended. But a "recession" and a "depression" like the world experienced in 1929 - 1939 are in no way the same; specifically, the 2009 Great Recession was in NO WAY as severe as the Great Depression. The suggestion that it is even close is nonsense.
Judge for yourself...
http://www.zerohedge.com/news/2016-05-25/worst-economy-great-depression
Note - this sight is still well worth reading.
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