This is a comment I posted following this Great Depression-related entry on the Toro blog:

The problem with comparing our current predicament with the Great Depression is that such a comparison can, paradoxically, breed complacency as in: "We're not doing as bad as we were in 1931 or '32 or '38, therefore we're going to be OK". It's like the alcoholic saying: "I'm not a heroin addict therefore I'm OK".