Hope you guys had a wonderful weekend so far. Olympics has been fun, and one might say a much needed distraction from the current economic turmoil we've been experiencing. I do want to point out that prior to the '29 crash, bank profits were sky high, and the market was rallying to new highs. Does this all seem so familiar today? If there is something we can learn from history, is that politicians or (humans) never learn.
Speculations were rife then- bankers speculating with customers' money, just like today. That was what caused the Glass-Steagall Act to be enacted. The way the market moves depends on government policies, which ain't lookin' good if you asked me. More restrictions, and more overspending is on the way. In the end, Big Brother doesn't seem to care for the long term, as they are just kicking the can down the road. How long more can this last?
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