|Forum - Wall Street Pit
||Stock Due Diligence for All|
|From: Bender24 (Rep: 204) reply to bucyrus||Date: 12/01/2019 05:58|
|Forum: Wall Street Pit - Msg #2806436||Thread #674110101 (Rec: 7) |
|Re: in the 1850s, massive wealth was controlled by a few thousand very large...|
Figured I’d link the article so others could read more.
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| Reply to bucyrus - Msg #2806433 - 11/30/2019 23:04|
Re: in the 1850s, massive wealth was controlled by a few thousand very large plantation oligarchs in the South. The South was politically and police-wise run as a full-blown oligarchy, while the North was still largely democratic (the “Gilded Age” Northern oligarchs wouldn’t fully emerge for another 30 years). The Civil War could thus be recast as a war between oligarchy and democracy, where democracy won by a whisker.
About four generations after that, in 1921, Warren Harding and his oligarch supporters took control of our federal government, leading to the “Roaring Twenties” (in which working people’s wages stagnated, but people at the top made out like bandits), and the Great Crash of 1929. The Republican Great Depression (what they called it until the 1950s) opened the door to Franklin Roosevelt’s “war” against the “economic royalists” (oligarchs), which succeeded in putting them, at least temporarily, in a box despite their explicit efforts, exposed by Marine General Smedley Butler, to overthrow him by force.
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