by NoahIt was this week in 1929 that the worst economic disaster to yet befall the United States occurred. The market crash and the ensuing Great Depression began on October 24th in 1929. By the 29th, America had fallen into a catastrophic pit of hell and suffering that would last for years. The crash was caused by unfettered, unregulated greed, and a diabolical income gap that was continuously exacerbated by a non-stop flow of distribution of wealth upward instead of a more moral and sensible distribution across all levels. Sound familiar?Just weeks before, know-nothing Republican president Herbert Hoover and his party were boasting about his stewardship of a booming economy. The amount of human misery republican polices of the day begat is, to this day, unmeasurable beyond the more obvious statistics like banks failed, companies failed, and Americans thrown out of their jobs and into soup and bread lines. Republicans of the day didn't care then. They don't care now, and, they won't care when the current bubble, bigger than the one in 2008, explodes like the Hindenburg. The first lady will even wear a jacket that confirms the Republican sentiment and the president will try to sell more hats to people who won't even have money for food.
If there is a bubble burst, as they call it, you know you can make a lot of money... people like me would go in and buy like crazy.- Donald Trump, 2006, in his audiobook for his failed Trump University
Hardly anyone who was alive that week in 1929 is alive now, and those who were were mostly too young to remember the gory details now. That is only for those who study history. As the saying goes: Those who don't know history are doomed to repeat it. And the powers that be are too damn selfish and arrogant to think or give a damn that such a disaster could happen again.