Wednesday, October 15, 2008

It's all just little bits of history repeating...

Subject: Soapbox
Looks like we're partying like it's 1873.

There were many such "panics" throughout our industrialized history, culminating in the Great Depression, after which a system of regulations and standards kept us relatively stable and growing for an unprecidented period of time -- as lousy as some of our recessions had been, they weren't anything like a full scall "panic" like the old days.

And go figure, attempting to dismantle and circumvent the regulatory legacy of the Depression just brings us back to the kind of damaging cycles that cause normal people the most problems. With luck, we're not that far gone yet, but the similarity to 1873 is really, really eerie, isn't it?

(Next week I'll be in California... I hear there's fruit pickin' jobs there, so I have that going for me, which is nice...)

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