02-02-2018, 08:51 PM
(This post was last modified: 02-02-2018, 08:53 PM by Bob Butler 54.)
(02-02-2018, 06:26 PM)pbrower2a Wrote: The worst two economic meltdowns of the last century were in 1929 and 2007, both of them happening when speculativr booms imploded.
Agreed, the common wisdom is that the banking and investment industries got too greedy in both cases. Many believe both require regulation in order to keep them from repeating hazardous mistakes which put the people and the Main Street economy at risk. Many stock brokers and libertarians disagree. I think the regulation a necessary evil.
There is a story of how a son went to his father around 1928 to advise investment in the stock market. The father refused, with the words "You'll see..." There is a certain prudence required to play the game.
That this nation, under God, shall have a new birth of freedom, and that government of the people, by the people, for the people shall not perish from the earth.