For the most chilling parallel, though, we should look back exactly 80 years, to the cold wintry days when 1931 gave way to 1932.
The ultimate warning from history: If our political leaders fail to provide adequate direction the results, as demonstrated 80 years ago, could be catastrophic
Then as now, few people saw much to mourn in the passing of the old year. It was in 1931 that the Great Depression really took hold in Europe, bringing governments to their knees and plunging tens of millions of people out of work.
Then as now, the crisis had taken years to gather momentum. After the Wall Street Crash in 1929 — just as after the banking crisis of 2008 — some observers even thought that the worst was over.
But in the summer of 1931, a wave of banking panics swept across central Europe.
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