The FDR government responded to the 1929 crash with the New Deal, launching programs to employ citizens, building infrastructure, creating parks, building bridges, bringing electricity to rural areas, even cultural issues like hiring playwrights to write plays and actors to perform, sending orchestras to perform in rural areas, hiring photographers to document the Dust Bowl, and hiring historians to interview former slaves (which are on YT).
But it was WW2 that got the economy humming, so after the war the US switched to the permanent war economy, paying the war profiteers to make weapons. That worked for a while, but then it wore off, so they turned to destroying the New Deal laws that stopped banks from speculation, or as Marx called them, "credit swindles."
Uh, oh, that won't end well.
The 80s ended with the S&L bubble crash, now labeled a "scandal", since ruling class crimes are called scandals, not crimes. So they set up the Plunge Protection Team, which was designed to keep the economy humming by bailing out the rich, instead of employing the poor.
The 90s were helped by the looting of Russia, which put a lot of money into the US economy, and the rise in personal computer usage and the accompanying boom.
But the 2001 dot com bubble crash impoverished a lot of workers.
Never mind, it's on to the housing bubble! Pass out those NINJA loans, jack up those housing prices, illegally sell those mortgages all over the world. (I mentioned this in my show yesterday.)
The 2008 crash was a slap in the face to the working class. No, it was a punch in the jaw. The banks were bailed out and a million Americans were thrown from their homes.
Now the AI bubble is blowing up. The AI bros are already talking about their entitlement to a bail-out.
AI, which is used to spy on us, monitor our behavior, throw us out of work, and they have plans for even more destructive uses.
Not to mention the electricity and water usage.
What will Americans do when the government bails out the AI bros and puts their gambling debt onto the national debt?
Just sit back and take it? Or will that be the Last Straw?
I guess we'll see.
