We were able to fix it because the depression was an opportunity to push through reforms that otherwise might never have happened. Without such a major economic event, I don't see it happening again. It will get worse before it gets better.
I really didn't mean it to be a direct correlation. The "Golden Age" of the 1920s was followed by the economic crisis of the 1930s. We've since learned how to avoid allowing such crisis to cripple the entire nation but we're still plagued by elite interests who aren't interested in sharing anything. People aren't hungry enough for modern distractions to stop working, but it does seem like we're headed in that direction.
I mean the big crisis of recent years, that happened because of bank incompetency with their subprime mortgages, was pretty devastating and has widened the income inequality gap considerably.
Oh, we know how. Not everyone wants to believe it, but we know how to avoid boom-and-bust cycles and how to avoid entering another Great Depression. Even Bush acknowledged the last part when he lobbied for and signed the TARP bill. The folks who insist that government regulation to prevent and stimulus to cure these problems are actually the cause aren't basing their claims on anything approximating evidence.
We were able to fix it because the depression was an opportunity to push through reforms that otherwise might never have happened. Without such a major economic event, I don't see it happening again. It will get worse before it gets better.
I really didn't mean it to be a direct correlation. The "Golden Age" of the 1920s was followed by the economic crisis of the 1930s. We've since learned how to avoid allowing such crisis to cripple the entire nation but we're still plagued by elite interests who aren't interested in sharing anything. People aren't hungry enough for modern distractions to stop working, but it does seem like we're headed in that direction.
That's what worries me. Without a crisis I'm not sure how we get change.
We have to learn to create change rather than wait for it to come to us.
I'm not sure if we've learned that.
I mean the big crisis of recent years, that happened because of bank incompetency with their subprime mortgages, was pretty devastating and has widened the income inequality gap considerably.
Oh, we know how. Not everyone wants to believe it, but we know how to avoid boom-and-bust cycles and how to avoid entering another Great Depression. Even Bush acknowledged the last part when he lobbied for and signed the TARP bill. The folks who insist that government regulation to prevent and stimulus to cure these problems are actually the cause aren't basing their claims on anything approximating evidence.