2016 Postmortem
Related: About this forumEighty-seven years ago...
The business of America was business. The Republicans had taken control of all the branches of government. People were borrowing money to invest in the euphoric stock market. The masters of the universe were in charge.
Then, the stock market crashed. And so did the buoyant Republican Party. As some people sold pencils and apples on the street corners, still others stood in soup lines as they frantically searched for a job. Some, that were better off, lost everything in the stock market crash and jumped to their deaths from tall buildings.
President Hoover urged everyone to be patient and everything would be better in a year or two? Harry Hopkins reminded him that people did not eat every "year or two" but every day. These times brought the rise of FDR and the New Deal. It was also the birth of the modern Democratic Party.
It appears that we may have returned to those times. The masters of the universe are back in charge. The Republicans are back in charge of everything. The stock market is soaring.
What happens next?
Buzz Clik
(38,437 posts)kentuck
(112,832 posts)BSdetect
(9,047 posts)Drag out the rise till its beyond repair if it does crash again - or rather when it crashes.
Next time they will hand over more trillions to that 1/10 of 1%
Wonder how many jobs and homes will be lost?
rsdsharp
(10,173 posts)crash. Calvin Coolidge's term had ended on March 4 of that year.