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[quote=Anonymous][quote=Anonymous][quote=Anonymous]A Great Depression is coming. You are living in the roaring 20's. Warren Harding (and then Calvin Coolidge) were presidents from 1921 - 1923 and then Coolidge from 1923 - 1929. Their policies included:

1. High Tariffs 
2. Low taxes (they even gave tax money back to the wealthy) 
3. Low/reverse immigration 
4. Low government spending - they even had their own DOGE known as the Bureau of the Budget.

It led to the Great Depression. It turns out vacuuming up money from the majority of people, making goods too expensive for people to buy and turning off government spending is extremely bad for the economy. Why the GOP wants to try these exact same policies again is beyond me. 
[/quote]

No, it was a speculative driven bubble based on electrification and mass consumption (e.g., automobiles, radio, etc.). The market crash was driven by a proliferation of leveraged trusts (i.e., investment vehicles that used debt to buy stocks that traded at a premium), which is somewhat similar to Strategy and other leveraged crypto vehicles are currently engaged in. The market crashed and then was followed by a depression due to the Fed's disastrous decision to raise interest rates. It then was exacerbated by Germany defaulting on its war debts -- the other WW1 allies in turn couldn't pay their loans to the U.S. Also, banks could invest in equities and there wasn't depository insurance, which caused multiple runs on these banks. [b]I'm more worried about the shadow finance market, which is now larger than the banking sector. It's not regulated and is likely where the next crisis will originate from[/b]. [/quote]

NP. I am clueless about these shadow markets. What specifically are you most concerned about, and what’s the likelihood there will be a crisis connected to them?[/quote]

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