Sunday, April 5, 2009

History Repeating Itself?

The following cartoon appeared in the Chicago Tribune back in 1934:



With a little bit of luck, history could repeat itself. This comment accompanied the cartoon: "Those who fail to heed the lessons of history are doomed to repeat them. 1930’s demonstrated that FDR's spending programs failed to turn the economy around. Unemployment dropped slightly & rose again in the late thirties to more than 15%. WWII reversed the trend. It took the stock market 25 years to recover from 1929."

No comments: