It feels like it was just the other day that I was here talking about a great episode of This American Life. Gotta say that I really enjoyed the show from this past weekend, too. They talked about the roots of the credit crisis, and for a financial novice like myself, I found the show to accessible and informative. I came away with a much more thorough understanding of the events that led us to our current economic state of affairs.
One additional question that I had afterwards was, “What were the comparable specifics that led to the economic downturns of the 1930s and the 1970s?” I’m sure I learned these things in history classes (10-15 years ago) but I don’t really recall. It’s baffling to realize that even though we, as a species, recognize that mistakes in history tends to repeat themselves, mistakes keep happening, and the cycle goes round and round.
Give a listen to episode #355, “The Giant Pool of Money,” if you get a chance.