1934 Cartoon from Chicago Tribune
Amazing Cartoon from 1934
This amazing cartoon was in the Chicago Tribune in 1934. Look carefully at the plan of action. Remember the adage, “Those who do not remember the past are doomed to repeat it” ..
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February 16, 2011 at 11:46 pm
Well history certain has a way of repeating itself. As a bleak as the economic situation is right now, and despite the seriousness and relevance of this 1934 cartoon from the Chicago Tribune, somehow I could not help but be amused.
It highlights the idea of taking the necessary action to mitigating a bad situation. The message of the cartoon all these years ago is as relevant is as relevant to the US housing market crisis and its economy today.
Just consider for a moment how Wall Street initially reacted to the awareness of the problem and warnings that the housing market would soon crash. When we understand and examine how the problem arose and how significant its impact was on the socio-economic health of the US, the problem of mitigation becomes even more glaring. And then of course we must consider the Wall Street and the governments capability to influence outcomes within the real estate sector including property prices, and the political will or lack thereof to take stringent measures to deal with it from the onset.
We cannot help but recognise the many similarities between the circumstances which existed back then and which prompted the creativity of the cartoonist, and the housing and economic crisis which exists even today.