More about learning ... or NOT learning from history.

Partying Like It’s 1929

By PAUL KRUGMAN / New York Times

If Ben Bernanke manages to save the financial system from collapse, he will — rightly — be praised for his heroic efforts.

But what we should be asking is: How did we get here?

Why does the financial system need salvation?

Why do mild-mannered economists have to become superheroes?

The answer, at a fundamental level, is that we’re paying the price for willful amnesia. We chose to forget what happened in the 1930s — and having refused to learn from history, we’re repeating it.

Learn a little about history after the click ...

My comment:

It might be worth reading a little about the Holland Tulip Craze (1634-1637). It would be a little like locking the barn door after the horse has been stolen ... but better late than never, I suppose.

Imagine it's 1633 and your house is a tulip bulb ...