Once again a rather interesting blog about bubbles.
I found this one to be more interesting than most for three reasons:
1. It starts with an analysis of an analysis- the basic facts of The Great Depression come from analyzing a book written by John Kenneth Galbraith, covering the 10 years up to the crash.
2. This analysis also includes a timeline of about 20 years leading up to the current crash.
3. This analysis also includes a list of assets that the average citizen had then, vs the assets we have now, for surviving such a crash (with a definite survivalist bias).
It's that last bit that interested me the most- from my own distributionist standpoint, protectionism is a solution to that last problem- the fact that many people today live so far from the means of production that they are unable, in a time of decreased trade and decreased credit, to access the basic necessities of life.
An example, from his "Current Conditions that Galbraith could never have foreseen"
10. The U.S. claims to be competitive but much of this competitiveness is highly selective and thus illusory. Everything in the U.S.--labor, goods, buildings and taxes--is high-cost, overregulated (except for finance, banking and governance) and vulnerable to unpredictable lawsuits and officially sanctioned looting. Other than recent immigrants, non-U.S. employers find the workforce is often surly, unappreciative, narcissistic, entitlement-obsessed, unhealthy, poorly educated, unmotivated and more inclined to get-rich-quick schemes than actual enterprise or productivity.
The middle management labors under impossible demands to enrich stockholders next quarter and heavy turnover insures few stay in any job long enough to learn it effectively. Team cooperation is a doublespeak fraud imposed by "facilitators," creating a phony work environment where employees and managers alike pretend to care. This bogus environment breeds a looting, game-the-system mentality in which everyone is grabbing for all they can before retirement, restructuring, reassignment, resignation or getting fired.
This is why I saw this as being less CT than many survivalist blogs on the topic, and more behavioral economics based.