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We didn't know how to stop the great depression then, so the best we can do is look at what failed, and try not to repeat that. But history does not teach us how to avert such a catastrophe, without an example of how it was averted, but we can never know if a depression would have followed something that did not result in a depression.
So it is an invalid assumption to assert that we can always avert an event by approaching it differently than we did before.
"Advice can be a dangerous thing, for all winds may blow ill" --- Lord of the Rings.
And society is compromised primarily of greedy, self-serving, mean-spirited, unenlightened, distasteful, and basically foolish idiots, morons, and imbeciles . . .
If you can't learn from your mistakes, you surely cannot prevent the same disaster in the future. However, what you learned from past mistakes will almost certainly never be a factor in your future endeavors.
We didn't know how to stop the great depression then, so the best we can do is look at what failed, and try not to repeat that. But history does not teach us how to avert such a catastrophe, without an example of how it was averted, but we can never know if a depression would have followed something that did not result in a depression.
So it is an invalid assumption to assert that we can always avert an event by approaching it differently than we did before.
"Advice can be a dangerous thing, for all winds may blow ill" --- Lord of the Rings.
Perhaps you could make it obvious that you are speaking only for yourself when you say things like "...history does not teach us how to ...". It is sad that history is incapably of teaching you, but for those of us paying attention, history is the great mentor.
Every single thing that brought on the great depression were predictable in their effect.
Woman at party to Winston Churchhill: "Why sir, you're drunk!
Winston's reply: "And madam, you're ugly. But in the morning, I shall be sober".
Churchill had a lifelong insulting contest with George Bernard Shaw. When a new Shaw play was opening, he sent Churchill a note, "Please be my guest at my play on opening night. Here are two passes, bring a friend---if you have one." Churchill replied "Sorry I can't make it on opening night. I'll come the next night---if you have one".
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