Yes we all know the saying, those who ignore history.. yada, yada. However, it’s another thing to be in the middle of one of these “we’re repeating history, and not for the first time” events. I would direct your attention to the Panic of 1837, a precursor to the more well known Great Depression of 1929. Both had similar causes to today’s American woes, namely overspeculation and overextension of credit. The panic of 1837 even included a real estate boom. Based on this cycle, I guess 90 years from now will be a pretty good time to start short selling everything in sight.
Posts Tagged ‘economics’
February 10, 2009 Leave a comment