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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Oblomov who wrote (58337)	4/16/2006 3:23:37 PM
From: CalculatedRisk	Read Replies (2) \| Respond to of 110194

As far as the '20s being a "time of wonders" - no question about it. But from an economic perspective, it was a disaster. Internationally, the "Economic Consequences of the Peace" were a prescription for disaster - and the eventual rise of Hitler. NOTE: For those interested, here is Keynes' hilarious take on the "Economic Consequences of the Peace": socserv2.socsci.mcmaster.ca In the US, wealth was poorly distributed with the median real income falling throughout the 1920s. This was caused by some macro issues (the Farm Tractor metaphor) and some poor policy choices (tax cuts for the wealthy, the lack of social safety nets). The end result (the Depression) was predictable. At least today we have some safety nets, but once again wealth is poorly distributed - something we should all be concerned about.