Anonymous
Just to add to what has been already said comparing the ’29 crash with what could happen today:
- The dollar was backed by gold, now it is not.
- The level of debt was about 19% of GDP, now approaches 100%.
- There was no SS checks to pay out.
- Everyday life was less dependent on a fragile infrastructure.
- The USA was a producer, now it is a consumer.
- People were generally more fit than they are today.
- The average age of the population was much lower.
All these factors are a making a collapse of the economy way worse.