Comparing Economic Crises: Depression of 1929 to 2008 and the Aftermath

Economist Jack Rasmus points out that mainstream economists do not even bother to look at economic history (especially 1929)  in order to understand the past 10 years of economic stagnation. In this article, Rasmus shows where the similarities are and where the differences can be located.  While both Roosevelt and Obama initially bailed out the banks,Roosevelt – unlike Obama, promoted a New Deal that improved the economy, at least for a while. Because of this, the Democratic party received many working-class votes. In contrast, the Democratic Party today has very little working class support.