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The Latest Breaking News from Great Depression

'Mistaken, misread, misquoted, mislabeled, and mis-spoken' -- what Woody Guthrie wrote about the national debt debate in Congress during the Depression

The debt ceiling debate between the House GOP and President Joe Biden could, if not solved, lead to economic chaos and destruction – so it might seem strangely lighthearted to wonder what a Great Depression-era singer and activist would think about this particular political moment.

The Conversation

Editorial: It’s back: Farm bill still crammed with subsidies, pork

Decades ago, when the late Harry Reid was relatively new to the upper chamber, a book arrived at our offices courtesy of the Democratic senator. It was “The Farm Fiasco” by libertarian author James Bovard, a piercing work that critically examined the labyrinth of subsidies, handouts, pork and market distortions…

Tribune News Service

SVB's newfangled failure fits a century-old pattern of bank runs, with a social media twist

The failure of Silicon Valley Bank on March 10, 2023, came as a shock to most Americans. Even people like myself, a scholar of the U.S. banking system who has worked at the Federal Reserve, didn’t expect SVB’s collapse.

The Conversation

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‘Gerbil banking’ preceded the Great Depression. We’re seeing it again today

Big banks are attracting more deposits–and putting money back into failing banks. A similar system existed in the run-up to the Great Depression.

Fortune

Silicon Valley Bank might have just blown up a banking regulation that was put in place at the depths of the Great Depression

Why deposit insurance matters: Without it, America's press secretary had to put his money under a mattress in the 1930s.

Fortune

Whatever happened to Mary Agnes Moroney? DNA tests appear to solve 1930s mystery of missing Chicago girl

A new investigation into the kidnapping led her family to conclude she grew up as Jeanette Burchard, became a nurse and had three children, and died in Florida 20 years ago. “She was loved very much,” her daughter said.

Chicago Sun-Times

Egypt's Sisi Backs National Projects, Rejects Claims Economic Crisis Caused by Domestic Policies

Egyptian President Abdel Fattah al-Sisi rejected "misleading claims" that said the global economic crisis was only limited to Egypt and caused by domestic policies. He also defended national projects, saying they were the basis for achieving comprehensive economic development and expressed his confidence in Egypt's ability to overcome the crisis.…

Asharq Al-Awsat

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TikTokers Are Revealing The Abject Chaos Of Finding A Place In The Sydney Rental Market RN

God, it's brutal out here.

Pedestrian.tv

Every Question We’re Expecting To Be Answered In Yellowstone’s New Spin-Off 1923

1923 is the next instalment of the Yellowstone origin story, introducing us to Jacob and Cara Dutton played by Harrison Ford and Helen Mirren.

Pedestrian.tv

Ken Griffin warns U.S. faces ‘immediate Great Depression’ if China seizes Taiwan’s semiconductor industry

The Citadel CEO worries U.S. restrictions on selling advanced computer chips to China could make invading Taiwan more tempting to Beijing.

Fortune

Remembering the veterans who marched on DC to demand bonuses during the Depression, only to be violently driven out by active-duty soldiers

The Bonus Army March is a forgotten footnote of American history.

The Conversation

Risk of global financial crisis spiking

I am writing this article in Tokyo. Judging from my walks around the city during the past week, and despite the fact everyone is wearing face masks, it's like Covid has vanished. Subways and trains are jam-packed and shopping areas are full of people. However, the pandemic has left some…

Bangkok Post

How The 60/40 Portfolio Stacks Up With The S&P 500

A portfolio consisting of 60% stocks and 40% bonds had a golden age from the 1980s — until recently.The combination offers investors risk-adjusted returns that are frequently on par with, or greater to, those of the benchmark SP 500 Index.The 60/40 portfolio faced significant challenges this year due to ongoing…

Benzinga

Expert warns Tory austerity drive will return UK to the 1930s

THE UK risks experiencing levels of inequality last seen during the era of the Great Depression if the Tory government continues an austerity drive,…

The National (Scotland)

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inkl Originals

The Weekly Wrap for Saturday, 15 October 2022

On Monday the Sveriges Riksbank prize (the Nobel Prize for Economics) was awarded to Ben Bernanke. We can trace the last century of American economics in his life's work. He's often described as the saviour of the last recession. But what about this one?

Evening Standard

Who is Ben Bernanke? Economist honoured with a Nobel Prize for work on Great Depression

The 68-year-old shared the prize with two fellow economists

Chicago Sun-Times

University of Chicago prof, former Fed chair Bernanke share Nobel for research on banks

Bernanke, University of Chicago professor Douglas W. Diamond and Philip H. Dybvig were recognized Monday for their research into the fallout from bank failures.

The Conversation

In Iris, Fiona Kelly McGregor recreates the criminal underworld of Depression-era Sydney

It’s spring 1932 and Sydney is in the grip of the Great Depression. In the narrow terrace-lined streets and back lanes of inner Sydney, there are illegal two-up games and off-course betting. Sly grog shops are open after the official pub closing time of 6pm, offering beer, spirits and drugs.…

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ABC News

Rare Australian penny released during the Great Depression sells for nearly $60,000

A rare 1930 Australian penny that was never meant to be minted has sold for just under $60,000 at auction.

Tribune News Service

Tips to fight inflation: How Seattle-area families stretch their buck at the grocery store

SEATTLE — A whole chicken, a slab of bacon, a carton of milk and a box of Froot Loops can ring up to $40 at the cash register now. Your wallet likely feels much lighter after a trip to the local supermarket because grocery prices have risen 13% higher than…

St. Louis Post-Dispatch

Benjamin Hochman: Joe Medwick's family shares feelings on Paul Goldschmidt's Triple Crown quest for Cardinals

With September warming up in the bullpen, the surreal will soon flirt with reality. Paul Goldschmidt could accomplish something that hasn’t been done since the Great Depression.

The Canberra Times

Australia's oldest man, who lives on the South Coast, turning 110

Frank Mawer was made a ward of the state aged just 14. He has lived through two pandemics, two world wars and the Great Depression. He turns 110 on August 15.

Tribune News Service

Editorial: Bill Russell and Nichelle Nichols, American heroes

There’s a reason for the simultaneous mourning and celebration of the lives of a basketball player and an actress, both out of the public eye for years. Nichelle Nichols, 89, and Bill Russell, 88, were born during the Great Depression into a society that defined them as second-class citizens simply…

The Hindu

The five-day work week might be fading away

Instead, an old idea, a four-day work week, could become a reality, shaping the future of staff engagement

Tribune News Service

Jon Talton: Jeff Bezos adds his own misdirection on the inflation debate

It’s not unprecedented for titans of industry to attack presidents. Henry Ford was so outraged over former President Franklin Roosevelt’s Hundred Days of initial policies to address the Great Depression that he huffed FDR’s “particular genius is to try to run other people’s businesses.”

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