What Great Depression?

I am really overwhelmed listening to analysts comparing the current economic downturn to the Great Depression. We became so spoiled as to think that a knee scratch is similar to an amputated leg. To put things in perspective, here are some facts:

• Unemployment: While we are currently at 8.3% and might be heading to 10%, this is way better than the 25% to 40% recorded during the Great Depression. Keep in mind that many European countries have been functioning for years under double-digit unemployment.
• Adjusted GDP: dropped by less than 2% compared to over 25% during the GD (Great Depression).
• Failed Banks: less than 1% compared to 50% during the GD.
• Prices: Dropped 25% during GD version no-change today.

So call it recession, downturn or slowdown, but please stop comparing it to the Great Depression!!!