There wasn’t such a tax and spend craze then... in fact it was very much a private market at that time.
There were unreasonable expectations of the private market that proved to be unreasonable.
Ultimately with governments in the economic mix, this will flub too if something else does not stop it. But it will take a lot, lot longer for the other shoe to drop, unless you’re sealed into a place like Zimbabwe.
Yes, it was a different set of economic conditions but the point is, the music stopped and things got very ugly. It can happen again. And we have an inflated market, massively inflated debt, an out-of-control Fed, a dysfunctional political system, competitive global economic pressures, and a world descending into chaos. What could go wrong? The 1930’s might not look so bad in comparison.