I don't think that any economist disputes that we're in the worst economic crisis since the great depression. The good news is that we're getting a consensus around what needs to be done.
At bottom the world isn't a joke. We only joke about it to avoid an issue with someone, to let someone know that we know he's there with his questions; to disarm him by seeming to have heard and done justice to his side of the standing argument.
Welles and I differed, however, in our interpretation of the results of the Munich Conference, he being optimistic, I skeptical. In a radio address on October 3, several days after the conference, in which he described the steps taken by the United States Government just prior to Munich, he said that today, perhaps more than at any time during the past two decades, there was presented the opportunity for the establishment by the nations of the world of a new world order based upon justice and upon law. It seemed to me that the colors in the picture were much darker.