‘Slipping into madness’: The comparisons to the 1920s and 1930s are just uncanny
“[W]e are seeing echoes of the 1920s and 1930s in today’s politics because we echo the economics of the 1920s and 1930s. We had a debt-driven Gilded Age boom prior to 2008 analogous to the Roaring 20s – and then a colossal bust, analogous to 1929. Since then we have failed to work out how to deal with the debt overhang, or to co-ordinate a global recovery between countries (so all boats rise) and within countries (so all boats rise, not just yachts).”
USAGOLD note: Michael Every echoes Ray Dalio’s disconcerting comparison of the 1930s to the present.
Repost from 10-10-2019