Economics- 1929 vs 2008/09 have we learned anything?
Thread Starter
250,000-mile Club President
Joined: Nov 2002
Posts: 4,770
From: Bizerkeley
Car Info: MBP 02 WRX wagon
Economics- 1929 vs 2008/09 have we learned anything?
plays well with others
iTrader: (1)
Joined: Aug 2006
Posts: 9,923
From: Sac
Car Info: your mother crazy
its even funnier when you compare personal debt then and now. in the US, americans now owe 100% of our GDP in personal debt. the last time the ratio was that high: 1929
Thread Starter
250,000-mile Club President
Joined: Nov 2002
Posts: 4,770
From: Bizerkeley
Car Info: MBP 02 WRX wagon
Another good point.
Not saying that things are exactly the same, China and Korea, and for that matter India and the EU all present some very different scenarios in terms of capitol and trade from what we faced in the 1930's.
The world's population is considerably larger, and the resources challenges we face are very different as well, not to mention that the dynamics of world politics have changed a lot from then.
But I do find it fascinating that so much of the domestic rhetoric is almost verbatim what the pundits and politicians of that time were espousing.
History does seem to repeat itself whenever it gets a chance, and not very many people seem to learn much from the lessons history has to teach.
Not saying that things are exactly the same, China and Korea, and for that matter India and the EU all present some very different scenarios in terms of capitol and trade from what we faced in the 1930's.
The world's population is considerably larger, and the resources challenges we face are very different as well, not to mention that the dynamics of world politics have changed a lot from then.
But I do find it fascinating that so much of the domestic rhetoric is almost verbatim what the pundits and politicians of that time were espousing.
History does seem to repeat itself whenever it gets a chance, and not very many people seem to learn much from the lessons history has to teach.
Registered User
iTrader: (3)
Joined: Mar 2003
Posts: 3,461
From: "It will take time to restore chaos." GWB
Car Info: 72 Vespa with curb feelers
Wait so in '29 did they spend us into oblivion on democrat pet projects rather than job creation, then try to socialize health care, all on backs of the executives that decide if jobs stay or go? Cool!
Thread
Thread Starter
Forum
Replies
Last Post