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Is this a Repeat?
Author: BobR    Date: 02/07/2024 13:17:50

It's hard to fathom all the craziness: Most of the wealth in the hands of just a few, while average people work hard just to get by in a robust economy... technological advancements... abortion isn't a legally-protected right... minority groups targeted... xenophobia...

This is where we are today. If it seems familiar - it should. What I described...

was the Roaring 20s.

One hundred years ago, the country's (nay, the world's) economic engine was on fire... music, fashion, and social norms were changing rapidly, and no one thought it could possibly end.

It did, though, in 1929 with the infamous crash of Wall Street, followed by the Great Depression. Part of the cause was a run on banks as the stock market tanked, causing their failure. One of the other major causes was a set of import tarriffs implemented by the Smoot-Hawley act.

Tarriffs... sound familiar?

Are we doomed to repeat this pattern? That depends on whether we get a Hoover or a Roosevelt in the White House.

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