Monday, October 29, 2007
On this day, October 29, in the year 1929 the stock market crashed, and ushered in the Great Depression. This Dorothea Lange photograph captures the human cost of this tragedy. The crash followed the roaring 20's, a time of exuberant excess in the United States. Shortly before the crash several pundits predicted a new era of prosperity, in which the market could continue to appreciate indefinitely.
I some times wonder if such a tragedy could happen again. What do you think? Could we ever see this magnitude of poverty in the United States again?