charles brough Posted October 15, 2011 Report Share Posted October 15, 2011 I noticed charts that show that the extreme of wealth and poverty that we experience now also existed in 1929. It spiked then, and began to fall as the stock market went down. Deflation seems to deflate the moneyed class! Will that happen with us? Quote Link to comment Share on other sites More sharing options...
LaurieAG Posted December 24, 2011 Report Share Posted December 24, 2011 Hi Charles, I noticed charts that show that the extreme of wealth and poverty that we experience now also existed in 1929. It spiked then, and began to fall as the stock market went down. Deflation seems to deflate the moneyed class! Will that happen with us? Not quite, if you look at http://www.voxeu.org/index.php?q=node/2877you will see that, compared with 1929, the unemployment rate halved while the loss in house prices doubled. This did happen to home owners while the moneyed classes got even wealthier. Money might not buy you happiness but it will pay to lobby/buy politicians of any political persuasion. Quote Link to comment Share on other sites More sharing options...
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