Is this a replay on 1929?

What is Samuelson's point? Why does he believe this? Give examples from article to support why you think he feels this way?

"Watching the slipping economy and Congress's epic debate over the Treasury's unprecedented $700 billion financial bailout, it is impossible not to wonder whether this is 1929 all over again. " said Robert J. Samuelson. He notices how bad everything really has gotten. Panic political as well as economic is the enemy. He thinks that the economy is being kind of selfish means how we keep spending and the economy keeps dropping.

Since the late 1940s, the United States has suffered 10 recessions. On average, they've lasted 10 months and involved peak monthly unemployment of 7.6 percent; the worst both lasted 16 months and had peak unemployment of 9.0 percent and 10.8 percent, respectively. as he points out in his article. The more everything goes down the more people that get unemployed and the more people cant pay for there houses there cars anything anymore.

"The Great Depression that followed the stock market's collapse in October 1929 was a different beast. By the low point in July 1932, stocks had dropped almost 90 percent from their peak. The accompanying devastation bankruptcies, foreclosures, bread lines lasted a decade."(Robert J. Samuelson) If the economy and the government does not figure out whats going on everyone will go bankrupt and the world as we know it will turn to a complet mad house.