I’ve posted Entry #43 to my weekly Investing: The New Rules column at the Death by 1,000 Papercuts site. It’s called High Stock Prices Caused the Great Depression.
Juicy Excerpt: It’s not hard to imagine the next crash bringing on the Second Great Depression. And it’s not hard to imagine a second Great Depression changing the public mood enough so that proposals for a termination of the free market economy would be a warmly welcomed by a large percentage of the voting population looking for any sort of relief that might be made available. In times of desperation, people go along with all sorts of ideas that they would not give two minutes consideration to in times in which they possessed the presence of mind to think things through more carefully.