Announcement

Collapse
No announcement yet.

Repeating History Whether We Want To or Not: The 1930s Debuts on PBS

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Repeating History Whether We Want To or Not: The 1930s Debuts on PBS

    To some, parallels between America's situation in the beginning of the 1930s and at the end of the new millennium's first decade are frighteningly similar. Upon closer look, they may be even more so. A new series on PBS' American Experience.


    More...

    Feed Source
    ___________
    http://GreatHistory.com
    "The Best Blogging in History"

  • #2
    Originally posted by Great History View Post
    To some, parallels between America's situation in the beginning of the 1930s and at the end of the new millennium's first decade are frighteningly similar.
    To whom?

    OK, such statements may make for nice, hyperbolic marketing, but fall far short of reality.

    Tight monetary policy caused the great depression. Government sponsored liquidity in the housing market caused the current recession. Far more people were unemployed during the great depression than are today and there was no social safety net. Today there is a social safety net and a lot more government involvement. During most of the depression the government kept the money supply tight and budgets balanced. Today the fed has pumped money into the system, lowered interest rates, and the budget of the federal government cannot even see balance over the generational horizon. I could go on all day about the differences.

    The differences between the two scenarios are striking. The only similarity is that for those who do lose their jobs or are afraid they might, often the feeling is like the end of the world. Whether it actually is or not.

    Comment

    Latest Topics

    Collapse

    Working...
    X