soc.veterans

On Sat, 15 Mar 2008 12:25:22 -0400, in alt.war.vietnam "Sid9"
wrote:

>Our short memory of the 1929
>crash allowed Republicans led
>by Reagan to push deregulation
>to the point where bank and
>brokerages were allowed to
>combine....we forgot...now we pay

There were *reasons* for the 1929 crash. We claim to have "fixed"
them... right. The reason that the crash happened is because
economics flow like the tide.

Be aware that the world does not revolve around the US and that, in
1929, the US economy was just behind Poland in GNP... twenty-something
in ranking. When the crash came. it hit countries with stiff
regulation just as hard as it hit economies with none at all.

You're taking a microscopic view of the Crash of '29 as a US event...
it was no such thing; moreover, it will happen again *regardless* of
what we do... all we can do is mitigate its impact. Note that
countries with weak regulation (e.g. The US) tended to cope slightly
better than countries with strict regualtion (Germany, for example.)
All economies went belly-up; unregulated ones were better able to
adapt to the sudden change... some say.

Jones