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Why the Coming Great Depression will be Worse Than the Last One

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The police in that era carried a Billy club and a pistol, and for the most part they were trained to direct traffic and take complaints from neighbors. Today they like to dress like commandos with Army boots and body armor. Today the message says, "I'm here to confront you and control you." But what will Kelly's heroes do when confronted with a food riot? Fire into the crowd? Try and taser everyone?

When you overlay a 1930's style depression on our current society you begin to see just how important the New Deal was. It cooled tempers and gave hope to the poor. Today, however, the New Deal was issued to the banks and they are quickly making a comeback. In 1932 Roosevelt closed the banks and then throttled them. The money was pushed into the bottom of the economy rather than the top. So let's call this attempt the Raw Deal because that's what Americans have gotten, a raw deal.

Under the New Deal the banks and the stock market didn't fully recover until the 1950's, long after the economy overall had recovered. But this time around the banks have recovered and the public has been left to languish. I hope for another New Deal, not because I'm a Democrat but because the greatest fear that politicians had in the 1930's was of a revolution and blood in the streets, and as we see every day in the news people aren't as nice as they used to be.

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I who am I? Born at the pinnacle of American prosperity to parents raised during the last great depression. I was the youngest child of the youngest children born almost between the generations and that in fact clouds and obscures who it is that I (more...)
 

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I'm an OLD spoilsport by Margaret Bassett on Thursday, Oct 8, 2009 at 7:44:39 AM