Wednesday, 15 October 2008

1929 and all that

“It’s not that we’ve run out of money. Rather, we’ve run out of confidence” (the Times) - and without confidence, it all goes to pieces.

Here’s another clip from my series "American Voices", describing the crisis of confidence that followed the banking collapse of 1929, and the effect on one American town:

(And today we read unemployment in the UK is back to two million. The only solution? Spend spend spend! - that new handbag, the new iPod - do it for your country!)

No comments: