I’m not sure that period of US history is applicable here. The country didn’t have a destructive, panicked, megalomaniac in the White House back then.
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The great depression was caused by a slowdown in international trade as a result of imposing terriffs, which spread to a financial panic, where government (in republican hands) refused to interfere in the “market” believing that capitalism of an unfettered kind would restore prosperity.
I think the only difference with the great depression is (a) Trump had already hurt the underlying economy with his mismanagement of trade relations, (b) the demand stock was much greater and swifter than the great depression. Countering this is a much better understanding of the available economic tools. Europe has managed the economic issues by and large a lot better than we have, because unlike Trump, they are not shovelling money at wall street speculators, but to actual people.
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Yes maybe to the national news media however the local affiliates will cover the news in their backyard. Trump failed as a leader and who wants 4 more years of this garbage?
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The ‘local news media’ - doesn’t exist in small counties in rural areas. And the few local papers - are likely huge Trump supporters.
I know - I live in a small rural area.
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I remember the tremendous anxiety and sense of dread I felt after the election in 2017 and leading up to the inauguration. It was justified and prescient.
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If you’re wealthy, this spells opportunity. The investor class didn’t lose much money during the market rout. Many were profiting from it. The rest will find a way to benefit eventually. Sure, there were some causalities among the billionaires, but for the most part, they lost very little compared to the working class:
As of March 18, when we finalized this list, Forbes counted 2,095 billionaires, 58 fewer than a year ago and 226 fewer than just 12 days earlier, when we initially calculated these net worths. Of the billionaires who remain, 51% are poorer than they were last year. In raw terms, the world’s billionaires are worth $8 trillion, down $700 billion from 2019.
So the richest billionaires as a group lost less than 10% of their wealth.
Some gained, some lost. I’m betting next year at this time, the Forbes list of billionaires will be much wealthier than this past March. The market has gained over 4,000 points since they finished their survey.
Who knew there was so much money in pig breeding?
The biggest gainer in dollar terms is Qin Yinglin, the world’s richest pig breeder. He’s ranked No. 43 and is worth $18.5 billion–a $14.2 billion jump since the 2019 list, after shares of his Shenzhen-listed Muyuan Foods nearly tripled as the African swine flu reduced the supply of pigs and drove up prices.
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The small rural areas will not be voting for Biden in November.
Biden should win all the Hillary states- Add MI & PA & pickup one of the following WI, FL, NC, AZ, GA- then game over…
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Just my opinion when this is all over they should stop bringing the stock market into the equation,opening bell dow over 384 pts,14 % unemployment rate,That’s good news ?
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He’s the author but you know Don never giveS his ghost-writers credit.
A long read
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A list of disasters this administration is ready for would be a much shorter read. I don’t know what would qualify.
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Bingo… wealthy play both with our taxpayer monies as well as on that yacht they just purchased. Must self isolate you know, must protect the help that has zero HC coverage, etc as who would boil the water.
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On that note, I enjoyed this cartoon.
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Stop putting out stuff like that. Let’s let this just play out.
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And the financial markets respond:
In a singularly remarkable achievement, this administration found a way to combine the effects of the Dust Bowl, the Crash of '29 and the subsequent run on the banks into a single event.
And they did it in a mere 90 days!
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Not to mention that his “testing makes us look bad comment” is buried inside most newspapers. I am beyond trying to understand … . I don’t know what’s going to save our election in the fall.
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Ahhh…so…Lordy, there are tapes all over the place.
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How can 2/3 of the country have no power here? We KNOW they’re going to do everything in their power to throw the election - and there’s nothing we can do? Nothing our representatives can do? It’s too depressing at only 10:15 in the morning. But I guess this is how a small group of people can rule over millions, as has been done since the dawn of man.
Or dead, also too.
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