Weimar days — 4 Comments

  1. The parallels with the 1930s have become quite scary. The populism of UKIP and Tory eurosceptics as well as Cameron’s opportunism brought Brexit; the disconnect between politicians and the people who have lost out economically and been punished by austerity helped Trump and may help Gert Wilders, Marinne LePen, and Golden Dawn if there is a Greek election (which is a real possibility as the EU wants the Greek government to make more cuts); a leader of Merkel’s Bavarian CSU partners has agreed with Trump. The so-called centre-left has either stood by or cooperated while its supporters suffered under austerity. Scary times indeed.

  2. The increase in the gold supply, coupled with the vast increase in the food supply from the US meant that large sections of the population of Europe were left behind in the 50 years before the first war. The real error non historians make is in thinking the issues of the 20s and 30s came about because to the war. They were in place and very active long before then. France was the only country to get through the post war years with something like a stability, and that mostly because it’s issues were exposed around the time of Dreyfus.
    What makes today so similar is the sheer lack of awareness by a ‘liberal’ cohort living within a financial thought experiment concocted by themselves that anyone of worth exists outside it.

  3. The Weimar comparison was made by a well-known Irish economist.

    The Great Depression of the 1930s arose not from the Crash of 1929, but from the classical economists’ response to it which created a huge demand deficit and a downward spiral

  4. Two problems the economists don’t really address. It isn’t that there are economic shocks, it’s who and where within the system it hits hardest. It isn’t Detroit or Newcastle that caused Trump or Brexit, but the utter idiocy of how over the last few years the economic crises has been ‘solved’.
    And what the Establishment in the western countries have succeeded in doing is destabilizing and removed hope from the very sections of society that are the Base. For the sake of neat mathematics and a delusional banking system they decided to undo 400 years of progress where a combination of hope and safety held the keel even.

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