“The 1929 crash brought the Roaring Twenties to a halt. As tentatively expressed by economic historian Charles P. Kindleberger, in 1929, there was no lender of last resort effectively present, which, if it had existed and been properly exercised, would have been key in shortening the business slowdown that normally follows financial crises. Only 16% of American households were invested in the stock market within the United States during the period leading up to this depression, suggesting that the crash carried somewhat less weight in causing it.”
40% of American households do not currently pay any income taxes and they are all democrats! Today the lender of last resort is the Federal Reserve who is in debt up to its eyeballs as a result of Quantitative Easing! When you factor the future debt of both Social Security and Medicare the Republican White Supremacist who will be picking up this tab will be screaming bloody murder! Come 2039 you should expect World War III in Asia!
And that is all I’m going to say about that!
Drain the Cesspool 