John M. Mason believes that the United States economy is recovering and will continue to recover. He also said that “financial crises are protracted affairs.”
John M. Mason writes on current monetary and financial events. He is an entrepreneur and a writer. Current projects include a new banking institution, an Internet company, a private equity fund, two depository institutions and a community redevelopment fund. He formerly was on the faculty of the Finance Department, Wharton School, and the University of Pennsylvania. Dr. Mason has been President and CEO of two publicly traded financial institutions and the executive vice president and CFO of a third.
Why don’t I believe that there will be a “double dip” recession, a 1937-38 depression like the one following the 1929-33 Great Depression?
In the case of the 1930s, there were policy errors committed that resulted in the 1937-38 depression: the most prominent one being the effort of the Federal Reserve to eliminate all the excess reserves being held by the commercial banks at that time so that the Fed would have more “control” over the money markets.