Economic Depression: 2008 = 1932?
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The trillion dollar shit hammer hit the fan yesterday and I'm loving every minute it! How could that possibly be? Aside from feeling personally vindicated, I think that the events yesterday on Wall Street just might be the long-feared cataclysmic meltdown that will finally awaken the comatose American people from their twenty-eight year slumber. Wakey! Wakey, kiddies!
Seventy-six years ago, on the eve of the election that sent Franklin Delano Roosevelt to the White House, President Hoover received the following, very cheeky telegram from an unnamed citizen:
"VOTE FOR ROOSEVELT AND MAKE IT UNANIMOUS"
By that time, the Great Depression which was unleashing such economic horror across the American landscape was already three years old. It's not as if the stock market had crashed less than two months before. In the columns I have posted in the last few months, I have made many references to that campaign of 1932. Forgive me for sounding repetitive, but the parallels are to numerous to ignore. Analogies are literally screaming to be made.