Similarities.
- A period of great wealth followed by a stock market crash and widespread economic pain.
- Wealth concentrated at the top among the very few, very successful
- Statistics seriously under-representing the depth of the problem.
- Unemployment in unequal measure: most hard hit were the poor, followed by the middle class.
- A re-examination of ethnicity as a determining factor for success.
- A significant erosion of the middle class.
- People turning to growing their own vegetables and raising their own animals.
- A barter system for communities to share what they had.
- Between 1929-1933, some 9,000 banks failed. Since 2007, 412 banks (some of them megabanks) have failed.
- A profound sense of shame being unemployed. People withdraw from their circles and disappear.
- Families shared housing, and life became somber and filled with worry.
- A profound distrust of the banks and money was moved elsewhere.
- After the Tsunami market crash of October 1929, the repercussions took years to manifest. Same is true today. Ours was not just one catastrophic event, but we are not even halfway through what will ultimately impact the economic stabilizers of housing, GNP, growth, jobs, government and banks.
- Social programs are in place as a first-line defense.
- Income Tax was implemented since 1929 and now hampers handymen and other small businesses that in the depression helped people make due.
- There is a different expectation of want (we have more, but perceive it as less)
- Some are in terrible straits, but not all. In the 1930s it was pretty much everyone.
- There are many stories about never leaving a hungry stranger at the door. We do not share that community mindset.
- There was no FDIC to insure the money when the banks failed. People lost it all.
- Social Security! Que Serra Serra. It is here now and that will hugely impact how the boomer cuspers cope with the
Depression? Recession? Dip in the Road?Whatchamagiggie.
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