Bill Tatro

No matter which historians, economists or government officials you query, there is always one common denominator when discussing the reasons for the great depression of the ‘30s. Some will talk about the inaction of the Federal Reserve. Others will discuss the increases in taxes, still others will focus on the tariff debacle Smoot-Hawley, no matter which excuse is used they will always include the differential between rich and poor or what we like today to call the 1% vs. the 99%.

While most were wondering where their next meal would come from a select few would wonder if cook should prepare something or will we be dining out. The differential was vast and glaring. The 1% when asked about the guy on the street corner simply said he should feel fortunate he is working. If he doesn’t sell anything he can eat his wares for dinner.

While the select few road the railroad trains to escape a cold winter and vacation in Florida, the unfortunate many also road the rails to Florida. (As long as the railroad police didn’t escort them off) just to stay warm and not freeze to death.

Yes, the disparity was dramatic.

75 years later we have circled around to where we started in 1929. The 1% taking total advantage of the 99%. Their announcements to the world that employment is grand, that housing is under control from San Francisco to Buffalo and the 99% have never had it better, are simply ludicrous.

Like the depression, the 1% of today are never in the real world. They simply look at the headlines, study their models and make later dinner reservations. The millionaires become billionaires and every street corner has a man with kids or a dog holding a cardboard sign asking for help. Yes, we’ve closed the circle over the past 75 years which begs the question, what happens next?

Unfortunately it is not only the United States but also the world in general that has made the journey from depression to prosperity to depression.

Therefore, what happens next is simple to answer. Each country will protect its own and use any means necessary to beggar thy neighbor, echoes rumbling from the past.

War is always the final solution. Therefore, it is no surprise that we could very well be heading back to the Mideast cesspool.

All to keep and protect the 1% from becoming a part of the real world.

MR. DIMON AND FRIENDS THANK YOU.


Bill Tatro

Along with his 40-years of dedication in the financial services industry, Bill is the President and CEO of GPSforLife, has authored a highly successful book entitled The One-Hour Survival Guide for the Downsized, acts as editor-in-chief of his dynamic monthly financial newsletter MacroProfit, maintains his very own website at billtatro.com, and faithfully continues his third decade on the radio with It’s All About Money which can be heard Monday through Friday on Money Radio 1510 KFNN (Phoenix, AZ). Bill can be reached via email: gpsforlife@yahoo.com.
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