Tuesday, November 28, 2017

November Classic of the Month: A Bubble That Broke the World by Garet Garrett

The names of the players are different, but these cautionary essays about massive national debt, written in the long wake of World War I and as the Great Depression was starting to make its horrible power fully known, are still fully applicable today. We are proud to announce A Bubble That Broke the World by Garet Garrett as our November Classic of the Month!

A powerful libertarian voice of the early 20th century, Garet Garrett, writing originally in the Saturday Evening Post, warned about the extension of American credit to a Europe staggering under a massive debt leftover from the financing of World War I... a situation echoed, if reversed, today as the overextended United States continues her rampant borrowing.

Collected in book form, Garrett's writings are a cry for a retreat from financial insanity, a clear-eyed look at a complicated and little understood era of financial history, and perhaps an ominous warning for today.

This book, originally published in 1932, presents a cosmology of a mass delusion which affects the mentality of the world. This takes place following World War I where the Federal Reserve System, for the first time, allowed flexible currency.

About the Author
American journalist Garet Garrett  (1878-1954) born Edward Peter Garrett, was an American journalist and author who was noted for his criticisms of the New Deal and U.S. involvement in the Second World War.

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