The U.S. economy sank at a pace of just 1 percent in the second quarter of the year, the Commerce Department reported Friday, in a better-than-expected showing that the recession could be winding down.

Question: When we hear comparisons between today’s economy and that of the Great Depression, I wonder: Had as many people and institutions been as highly leveraged then as now? Were personal and institutional debt as high then as they are…

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