What mainly stands between the world and an economic setback worse than anything since the Great Depression of the 1930s is the present momentum of growth in America (above all) and Europe.

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Along with a Camelot style sense, America will embrace fashions that hark back to the trying economic times of the Great Depression, Fisher predicts.

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Cuts to government expenditure have caused more than 10, 000 suicides and up to a million cases of depression across Europe and North America, according to Oxford University researchers who published The Body Economic.

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