As this crisis continues to unfold, some of the more research minded have been digging up news articles that appeared during the Great Depression. If you didn't know the dates and the names, you would have a hard time distinguishing when these were written. This is almost the exact same scenario with the exact same snap judgements from leaders and politicians. Even the whole short selling red herring and argument was a front pager, as it had been in the Panic of 1907. It's almost verbatim.
Why a country as great and prosperous as ours can choose willfully to repeat the same mistakes over and over again is a testament to how powerful corporate greed and government inadequacies are as a combination. Unfortunately, as the country grows and our status as the largest debtor nation grows, recovering from these cyclical crisis becomes less and less a certainty.
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