The More Things Change

Think recent market news is breaking ground? Don’t be too sure.

Check out this 1988 Dukakis campaign ad in reference to the last time government handed over billions of taxpayer dollars to the financial industry:

http://www.livingroomcandidate.org/flash/player.swf?id=4387

Back then, the national debt was $2.6 trillion and people were worried. Now, American consumer debt alone is $2.6 trillion and the national debt is on its way to $11 trillion next year.

They say every generation has its war. I guess every generation also has its financial implosion caused by greed and bailed out by innocent bystanding taxpayers.

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