The Panic of 1873

[Mark_R...@hotmail.com]

There are people who were penny pinching children in the 30's who'll
tell their grandparents said the previous Great Depression after the
Panic of 1873 was worse.

http://en.wikipedia.org/wiki/Panic_of_1873

Like today, it was caused by people pretending absurd real estate
prices were real and that arcane financial instruments were safe.

It was also pre-regulation of almost anything, where the little guy
was just cattle and nobody gave damn how many people died.

Still, we could pull out of this if only the majority of people would
pull their heads out of their asses and stop believing that their
beliefs trump objective reality.