That’s been my main concern for the last twenty years and every politician I have talked to have always pooh-poohed my concerns.
I just finished up the Politically Incorrect Guide to the Great Depression and the New Deal. I would strongly folks go pull it out and read through. It’s a good bit of history, which doesn’t get covered. How the depression really started.....is a bit different than the long accepted version given by most history professors. The lousy strategy by Hoover...simply deepens the mess, and FDR did nothing to resolve the Depression.
I’d agree...we are repeating most of the same things that we did in 1927 and 1928....which triggered the fall of the banks eventually. The Fed figures deeply into the affair, for what they did then, and what they do now.