The Great Depression of 1990
The Great Depression of 1990 Fails to Report for Duty
A No. 1 bestseller named the year. The depression never came, but the sequel still went to print.
What was said
“The Great Depression of 1990”
— Ravi Batra (economist, Southern Methodist University) · said 1987 · due 1990
The title had one job. There was even a sequel, 'Surviving the Great Depression of 1990', for a depression that never showed up.
The fine print
The quote is the book's title. First published in 1985 as 'Regular Cycles of Money, Inflation, Regulation and Depressions', retitled and a No. 1 New York Times bestseller in 1987. Wikipedia: 'the prediction in the title did not materialize.' In fairness, Wikipedia also credits Batra with foreseeing the fall of Soviet communism. Batra died in August 2026; keep any jokes aimed at the forecast only. The Los Angeles Times (1991): 'Batra predicted that a recession would begin in 1990, but he also said it would fester into the worst depression the world has ever known. He hasn't wavered since.' He then forecast unemployment of 10% to 15% by the end of 1991 and, by 1995, 'soup and kitchen lines worse than in the 1930s.' Lester Thurow, who wrote the foreword, asked to have his name taken off the cover over the title the publisher chose (LA Times, 1987). The NBER dates the actual US recession at eight months, July 1990 to March 1991.
Later spin
The depression will not be confined to the economy. It will be a depression in every walk of life. (Still standing by it, Los Angeles Times, February 1991.)
Sources
- The Great Depression of 1990 - Wikipediaaccessed 2026-09-29
- Ravi Batra - Wikipediaaccessed 2026-09-29
- Best Seller Sees 1990 Depression - Los Angeles Times (August 27, 1987)accessed 2026-10-09
- 'Dr. Doom' Stands by His Predictions of Gloom - Los Angeles Times (February 26, 1991)accessed 2026-10-09
- US Business Cycle Expansions and Contractions - NBERaccessed 2026-10-09
As of Oct 9, 2026
since it didn't happen
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