If we don’t remember the past we may repeat it

The great fiscal stimulus package … of 1929 – MarketWatch

Lately, whenever the market has a bad day, the reflex among financial-news editors is to compare our current situation with 1987 and wonder if a “Black Monday”-style crash is on the horizon.
But some observers draw a darker metaphor, noting that much of what we are seeing now also took place in 1929. As we know, that meltdown — unlike the 1987 crash — was not followed by a happy ending, but rather by a decade of poverty, shantytowns and sporadic famine.

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