I have been trying to explain to people for YEARS that America’s rich loved the 19th century boom-and-bust economy of constant crashes.
When you’re rich enough, an increase in cost of living is negligible and you can buy up bankrupt property & businesses for pennies on the dollar.
When you’re rich enough, an increase in cost of living is negligible and you can buy up bankrupt property & businesses for pennies on the dollar.
Reposted from
Michelle L. Price
NEW YORK (AP) — Dow tumbles 748 points, and S&P 500 has worst drop in 2 months after discouraging reports on the US economy.
Comments
Post FDR, and especially post 1995, other sorts of industries found a way to make $$
Maybe this is the conflux of the old and new $$ regimes.