Sunday, September 9, 2007

A Crash From The Past

Anyone wanting a refresher in how various financial manias can sweep a country, to collapse in a heap of deflation and despair, link over to this Google Books version of Only Yesterday: An Informal History of the 1920's.

"Only Yesterday deals with that delightful decade from the Armistice in November 1918 to the panic and depression of 1929-30. Here is the story of Woodrow Wilson's defeat, the Harding scandals, the Coolidge prosperity, the revolution in manners and morals, the bull market and its smash-up. Allen's lively narrative brings back an endless variety of half-forgotten events, fashions, crazes, and absurdities. Deftly written, with a humorous touch, Only Yesterday traces, beneath the excitements of day-to-day life in the 20s, those currents in national life and thought which are the essence of true history."

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