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Can We Compare 1929 With What We Experienced? how do they differ? Rate Topic: -----

#1 User is offline   charles brough 

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Posted 15 October 2011 - 10:09 AM

I noticed charts that show that the extreme of wealth and poverty that we experience now also existed in 1929. It spiked then, and began to fall as the stock market went down.

Deflation seems to deflate the moneyed class!

Will that happen with us?


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#2 User is offline   LaurieAG 

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Posted 24 December 2011 - 04:12 AM

Hi Charles,

View Postcharles brough, on 15 October 2011 - 10:09 AM, said:

I noticed charts that show that the extreme of wealth and poverty that we experience now also existed in 1929. It spiked then, and began to fall as the stock market went down.

Deflation seems to deflate the moneyed class!

Will that happen with us?


Not quite, if you look at http://www.voxeu.org...php?q=node/2877
you will see that, compared with 1929, the unemployment rate halved while the loss in house prices doubled.

This did happen to home owners while the moneyed classes got even wealthier. Money might not buy you happiness but it will pay to lobby/buy politicians of any political persuasion.
Corollary to the Peter Principle: Once you have promoted all of your competents to their highest level of incompetence you must change your management philosophy from top down to bottom up, because the non corrupt people at the bottom are the only competent ones in your entire organisation.
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