[Travis McGee]

"There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved."

-~~Ludwig Von Mises

“Several brokerage houses tumbled; blue-sky investment companies formed during the happy bull market days went to smash, disclosing miserable tales of rascality; over a thousand banks caved in during 1930, as a result of marking down both of real estate and of securities; and in December occurred the largest bank failure in American financial history, the fall of the ill-named Bank of the United States in New York.”

~~"Only Yesterday: An Informal History of the 1920’s" by Fredrick Lewis Allen

[dennisw]

Money’s too tight to mention

I been laid off from work my rent is due
My kids all need brand new shoes
So I went to the bank to see what they could do
They said Son looks like bad luck got a hold on you

Money’s too tight to mention
I can’t get an unemployment extension
Money’s too tight to mention

I went to my brother to see what he could do
He said Brother I’d like to help you but I’m unable to
So called on my father, father
Almighty father, he said

Money’s too tight to mention
Oh money,money,money,money
Money’s too tight to mention
I can’t even qualify for my pension

We’re talking ‘bout reaganomics
Oh lord down in the congress
They’re passing all kind of bills
From up there on capital hill, we’ve tried it

Money’s too tight to mention
Oh money,money,money,money
Money’s too tight to mention
Cutbacks!

We’re talking ‘bout the dollar bill
And that old man who’s over the hill
Now what are we all to do
When money’s got a hold on you

Money’s too tight etc.

We’re talking ‘bout money money
We’re talking ‘bout money money

[BnBlFlag]

“Only Yesterday” was used as a Textbook in a classs I took in College. An excellent book!