Tuesday, September 7, 2010
Sounding like the 1930s and 40s
In the 1930s the country was in the grips of the Great Depression. There's so many similarities to what's happening today. Much like then people bought on speculation. Back then it was leverage in the stock market. People borrowed to play the market. Today it's a double wammy. Not only did investment houses buy and sell stocks they didn't own (naked shorts) but investors borrowed far more than their houses were worth because hey values would go up forever so you couldn't loose or so they thought. But the great game of musical chairs had to come to an end. Those who saw this coming grabbled their cake and ran.
Some other ugly things are happening just like they did back in the 30s and 40s. Banks are failing, homes are in forclosure,no jobs and small groups of people are being blamed for economic woes. Back then Mexicans were rounded up and sent south of the border. Japanese were rounded up and put in internment camps. Then there were the book burnings in Germany. We're seeing the very same things today. Today the French are rounding up the Roma and kicking them out of their country all while trying to help an Iranian woman from being stoned to death. The U.S. is deporting more Mexicans than during 8 years of Bush. "Christian" groups want to burn books. Forclosures will continue until houses are bulldozed. This time the drought is happening in Russia instead of the dust bowl of the midwest. That makes me wonder how our water supply is doing in the great plains. It's been a fairly dry hot year. And now we need to think of our food supply on a global scale because we only produce 25% of what we consume.
It may not be quite as bad as the 1930s but it's getting there. People are running out of safety nets. Unemployment is gone for 1.7 million. Food banks are starting to ration what they have left in their pantrys and any help from local governments was slashed a long time ago. You might be able to catch a free health clinic should it make it's way to your part of the country (thanks to Ed Shultz). Everyone I've talked to from shop owners to a local dentist and the barber have all said the same thing, their business is down and they don't know if they'll make it.
How does it all end? Will there be another blood lust world war and the whole thing ends with a ticker tape parade down 5th Ave? Or will the earth end up a chared cinder? It does make you wonder.