Hollywoodz
TB Veteran
- Credits
- 74
largess ? supposed to be wages ?
Regardless. We are heading into an unusual market. They have managed to keep it propped up. But eventually, there will be a correction. Crack a book. The great depression happened. And it can happen again.
The economy is as artificially propped up as it was in 2008, right before the recession. Tax breaks went to stock buy backs, artificially creating a demand that inflated the stock prices. The Fed is deliberately keeping interest rates low, because low interest rates boost the economy. If you crack a book, as highspeeds recommends, you'll find that in 1921, the Harding, Coolidge and Hoover presidencies ( the original "trickle down" boys ) saw tax rates fall from a high of 77% right down to 25%. Sound familiar? They knew low tax rates boosted the economy, but, much like today, the income and wealth inequality grew in direct proportion to the tax cuts. Overproduction of goods and a weak export market contributed to the banking collapse and the stock market crash of 1929. Sound familiar? And, it can happen again...
Last edited: