I'm with ya, Ads. Most of what we create nowadays is dogsh1t.
Although you can kind of look on things like MyFace as entertainment. But it's free entertainment that someone else pays for. Still creating nothing. Not even a rolly coaster.
Sure can, Ken.
We ran out of gold around 1893, and because "fast" had turned out to mean "shoddy", lots of capital ventures were going belly up. So we mootched a mess of gold to prop us up.
Then in 1897, things were failing badly again.
But this time JP Morgan, who was in charge of all the money in the US, worked out a bailout situation for every company that was in good shape.
So well-funded, well-built, solid ventures like US Steel and became even more valuable.
JP Morgan doubled his and Rockefeller's wealth overnight. While he played solitaire, literally.
Our debt really didn't factor, because it was owned by private entities, not so much the government. At least not the same as today when the government wallows in debt.
This was before the federal reserve system was created by Morgan, and then he owned all the money in the whole country, mind ya. He's the guy that invented wallowing.
