Crummy Comparison
06/22/2021 |
Many commentators suggest that since the Roaring 1920s followed the Spanish Influenza pandemic of 1918, the Roaring 2020s will follow Covid-19. Wrong! Back then the median age in the US was 28, today it’s 38. Then, debt-to-GDP was 10%, now it is 110%. Then, exports boomed as Europe was busy rebuilding after WWI, now they are shrinking. Back then, taxes were being cut, now they are being raised.