October 11, 2008
SEE, IT IS THE DEMOCRAT'S FAULT!:
A Short Banking History of the United States: Why our system is prone to panics. (JOHN STEELE GORDON, 10/10/08, Wall Street Journal)
We are now in the midst of a major financial panic. This is not a unique occurrence in American history. Indeed, we've had one roughly every 20 years: in 1819, 1836, 1857, 1873, 1893, 1907, 1929, 1987 and now 2008. Many of these marked the beginning of an extended period of economic depression.Posted by Orrin Judd at October 11, 2008 7:49 AM
How could the richest and most productive economy the world has ever known have a financial system so prone to periodic and catastrophic break down? One answer is the baleful influence of Thomas Jefferson.