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How the mafia crushed it during the Great Depression

Many people are aware that the mob made a fortune in illegal alcohol due to Prohibition in the Roaring ’20s.

But most aren’t aware of how they made their greatest profits during the Great Depression: They became loan sharks. 919 more words

Trade

"From 'Lame Duck' To 'Fourth Quarter'": One For The History Books, As President Obama Plays Through To The End Of The Game

It seems to me that the job of political scientists is to identify patterns in political history as a way to predict the future. One of those patterns that has been pretty generally accepted is that once a presidential campaign begins to replace a second-termer, the White House occupant goes into “lame duck” status. 897 more words

Congress

Nonsense from Congress about the Fed

Recently Kevin Brady, a Republican from Texas who is vice chairman of the congressional Joint Economic Committee, wrote an op-ed piece for the Wall Street Journal (June 4, 2015), … 391 more words

Economic Growth

Keynes, the Great Depression, and the Coming Great Default

Source: Gary North, by Gary North

Ideas have consequences, but not in a social vacuum. There are no social vacuums.

Ideas that are held by a minority of fringe academics or polemicists sometimes become the foundations of victorious social movements after existing social institutions are undermined by a social crisis. 760 more words

Financial/Societal Collapse And Dependence

Brother Can You Spare a Dime

Roger’s note: A song the Republicans once tried to ban,  it is as relevant today as it was during the (not so) Great Depression

Roger Hollander

Heber & Caroline - A Love Story - Letter Twelve 7/22/1924

When our mother passed away I was going through her things and found a stack of letters written by my maternal grandfather Heber to my maternal grandmother Caroline (aka Carrie). 347 more words

Boston

The world is headed towards Great Depression-era problems, according to Indian central bank chief

Raghuram Rajan, governor of Reserve Bank of India, was one of the few who were credited with seeing the 2008 financial crisis coming. Now, he is stating that the world is making policy mistakes like it did during the Great Depression. 314 more words

Economy