damonmcallister

Great Depression 2.0: Acceptance is Spreading

I think that further connecting of the dots needs to occur. A context of the situation at hand can be better grasped with a brief look at history. Hoover and Roosevelt injected huge sums into the economy, participated in price fixing and wage fixing with no real success. Neither president ever saw unemployment below 13%. A cataclysmic event of global proportions (WWII) had to occur where the manufacturing base of every major nation was effectively destroyed before the US pulled through the Great Depression. In conjunction with the US being a net saver at the time and policies implemented which limited the Feds ability to debase really puts into context the lasting effects of the Feds mismanagement of the roaring '20's. Now the gloves are off. There is no limited to the amount of debasement that can happen, the manufacturing infrastructure is gone, and the US has not been a bet saver in over a decade.

This is a whole new ballgame. Batters up.