Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

sanatanadharma

(3,771 posts)
2. Read about the Florida land boom post WW1 and the 1929 market collapse
Fri Jul 16, 2021, 08:42 AM
Jul 2021

I may be wrong, but I remember being informed about the Florida land boom and its role in the post WW1 economic surge that collapsed in 1929 because there wasn't enough real value behind the speculative market.

The south Florida high rise boom seems to be backed by actual infrastructure and actual working humans (see Adam Smith).
But, when the buildings fall into the sea, we will no longer see people gathered, working, spending and generally shoring up the promise for the future that keeps too many of us saying "the rich deserve it, they earned it" BS.

The current world-capitalist system of "suck-up" is a 'swamp' without foundation; the rock and stone of stability is no longer regularly repaired with the mortar of reinvestment
Rather, the rich continue sequestering the bed-rock capitol as personal wealth; thus bridges collapse, generations are go uneducated, towns are poisoned, factories abandoned, etc.

Latest Discussions»General Discussion»State of miami condo mark...»Reply #2