An increasingly popular term for a global economic crisis generally blamed on corporate corruption based in the U.S., especially under President George W. Bush, though its full impact will occur after Bush's departure from public office. As of January 2009, it isn't certain whether the crisis will equal or even surpass the original Great Depression in severity, though comparing the two events is akin to comparing apples and oranges.
The global economic crisis that many are referring to as Great Depression II has been variously blamed on corporate corruption, globalization, capitalism, George W. Bush and greed and stupidity, all of which are coincidentally associated with Bill Gates, whose public relations team ironically promotes as a philanthropist.
by David Blomstrom February 1, 2009