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Topic - Economic collapse Posted: Yesterday at 2:36am By Dutch Josh 2 |
https://en.wikipedia.org/wiki/Wall_Street_crash_of_1929#Background or https://en.wikipedia.org/wiki/Wall_Street_crash_of_1929#Background ;
The "Roaring Twenties", the decade following World War I that led to the crash,[4] was a time of wealth and excess. Building on post-war optimism, rural Americans migrated to the cities in vast numbers throughout the decade with hopes of finding a more prosperous life in the ever-growing expansion of America's industrial sector.[5] Despite the inherent risk of speculation, it was widely believed that the stock market would continue to rise forever DJ, The neo-liberal "market economy-blind capitalism phantasy" did see governments sinking in debts and pushing public money to private companies/billionaires expecting https://en.wikipedia.org/wiki/Trickle-down_economics or https://en.wikipedia.org/wiki/Trickle-down_economics ; Trickle-down economics is a pejorative term for government economic policies deemed by opponents to disproportionately favor the upper tier of the economic spectrum (wealthy individuals and large corporations). These opponents reject the notion that spending by this elite group would "trickle down" to those who are less fortunate and lead to economic growth that will eventually benefit the economy as a whole.[1] According to Australian economist Heinz Arndt, use of the term has been criticized on the grounds that no mainstream economist or major political party advocates the trickle-down theory.[2] DJ...politicians-for-sale serving their buyers...
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