Thursday, March 5, 2009
Repeating History ?
I can remember the great depression of the 1930s. As a child six years of age in 1930, I had little understanding of the political and economic reasons for what was happening at the time. Since that period impacted my life in so many ways, in later years I've tried to learn about the causes of that great depression, and find that many economists who have made a study of that period of our history, say the government intervention by both Hoover and Roosevelt turned a 2 year recession into a 10+ years depression. Looks like we are now doing the same thing over again. I guess it is true that we either learn from history or repeated it.