Let’s see:
- Political leaders supporting rapid growth of new lending institutions issuing mortgages for municipal and residential construction? Check
- Mortgages easier than ever to obtain with comensurate building boom? Check
- Skyrocketing land values with exponential speculation? Check
- Borrowers assuming more credit with deceasing ability to pay it off? Check
- Appearance of a new international competitor who drastically undercuts domestic manufacturers? Check
So — 1929 redux? Nope. More like 1873…
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Vox Populi