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The Mudville Gazette is written and produced by Greyhawk, the call sign of a real military guy currently serving somewhere in Iraq. Unless otherwise credited, the opinions expressed are those of the author, and nothing here is to be taken as representing the official position of or endorsement by the United States Department of Defense or any of its subordinate components. Furthermore, I will occasionally use satire or parody herein. The bottom line: it's my house.

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« Beats Workin' | Main | Obama declines to campaign in Da Hood? »

July 12, 2008

Remember 1929?

Greyhawk

I don't, of course, though I've learned a little over the years I have been around. And I've learned a lot from folks who lived through the decade that followed that year. (And the war that followed that decade.)

In hindsight, that decade was the best in history for the fortunes of one Party in the United States (and another unrelated Party in Germany, for that matter) and for the advance of socialism (note small "s") in general.

And one of the worst for banks:

Many of the recessions in the United States were caused by banking panics. The Great Depression contained several banking crises consisting of runs on multiple banks from 1929 to 1933; some of these were specific to regions of the U.S.[6] Much of the Depression's economic damage was caused directly by bank runs,[7] and institutions put into place after the Depression have prevented runs on U.S. commercial banks since the 1930s,[1] even under conditions such as the U.S. savings and loan crisis of the 1980s and 1990s.[8] The Depression's bank runs left a lasting mark on the American psyche, exhibited in sometimes disturbing images such as the bleak scenes where the fictional hero George Bailey contemplates suicide in the movie It's a Wonderful Life.[9]
Actually, George prevented the Bank Run from destroying his town:

...an event that had been engineered by the evil Mr Potter (a character who could only exist in movies). But everything worked out a few minutes later, just in time for the end of the final reel, as it often did in the feel good, reel world of Hollywood in those days - when we were all in this together.

But in the real word? Not so much. (But someone seems to be suffering from an overdose of nostalgia...)

Posted by Greyhawk at 06:42 PM | Permalink | |