Wednesday, February 2, 2011

Crash & Burn

The Stock Market Crash of 1929 was unprecedented in its ability to crumble a countries morale and business structure in one fell swoop. It wouldn't be until nearly eight decades later that something equally catastrophic would happen, and that was the Stock Market Crash of 2008. If you can look past how dramatically it destabilized a whole country and look at the similarities instead, it starts to get interesting. The biggest of the similarities was the banks' willingness to partake in "abusive practices" that ultimately spoiled the whole system, which then eventually crumbled under all the bad business. There are many other factors that played into it, but the bottom line was that the greediness of man led to its downfall, twice.

Links you should check out:

http://www.catholicnews.com/data/stories/cns/0805167.htm

http://www.webpennys.com/commentary/comparing_1929_to_2008.html

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