The Providence Evening Tribune also reported such amusing fare as Law Bites Lawmaker, above. This is a lot like today’s news, where a California global-warming activist politician resigns for slipping on the no-drug-orgies-with-interns rule that she herself voted in.
With eerie familiarity the same page tells of the unending reparations and war loans soap opera (link), nicknamed the League of Debtors (link), and of Syrian moslems exterminating Jews (link). Zeppelins now strike us as unusual, and 1929 constitutional debates were not over guns, which everyone freely owned, but whether the 18th Amendment could prohibit Stand-Your-Ground home brew for household consumption. Dry agents murdering motorists, homeowners and boaters were an almost daily occurrence. (link)
Our parents and grandparents couldn’t legally get beer, just as we are mostly prohibited from having plant leaves and guns. Government bureaucracies deliberately poisoned safe beverages with methanol–causing permanent blindness. As alcohol was driven underground it was quickly replaced by German heroin. As relatively safe drugs are banned today, fentanyl is replacing bulkier painkillers just as easily-concealable Everclear replaced beer in 1929, and FDR replaced Herbert Hoover in 1933.
Oddly, but not coincidentally, asset-forfeiture rampages by religious zealots with guns caused financial upheavals and banking problems in both eras. The illegal economy and stock market dividends were untaxed before 1927. Then, as of March 2, 1929, economic instability set in, increasing in oscillations.
Fast-forward to September 15, 1986, when a similar phenomenon set in, worsening abruptly on May 5, 1987, and tilting into an accelerating stock crash on September 16, much as in 1929.
When in June 2007 the mortgage-based derivatives market reacted like a punctured balloon, nobody mentioned the Financial Action Task Force report on Money Laundering through the Real Estate Sector and Laundering the Proceeds of Illegal Narcotics Trafficking. Just as pointedly did they ignore the March 7, 2006 Bush Jr. E.O. on the WHOFBCI and the Federal Equitable Sharing Fund set up in April of 2008. This was the green light for prohibitionism as an excuse for robbing money and property without so much as an accusation, much less a conviction of the victim.
The neighborhood effects from prohibitionist asset plundering were quickly noticed when Barack Obama got 365 electoral votes in November, and when Bush Jr a week later announced:
Well, I have obviously made a decision to make sure the economy doesn’t collapse. I’ve abandoned free market principles to save the free market system. I think when people review what’s taken place in the last six months, uh, and put it all in one, in one, (sigh), you know, in one package, they’re realize how significantly we have moved. (link)
You do see the video, right? It’s not down a memory hole or anything like that, right?
Why not delve into the failure of Prohibitionism that caused the 1929 Crash? Prohibition and The Crash–Cause and Effect in 1929 does exactly that, matching newspaper accounts against stock market reactions and competing theories. It is live on Amazon Kindle for the price of a pint.
My other-language blog is amigra.us