Memes

45731 readers

1010 users here now

Rules:

Be civil and nice.
Try not to excessively repost, as a rule of thumb, wait at least 2 months to do it if you have to.

founded 5 years ago

MODERATORS

[email protected]

997

the debt (lemmy.world)

submitted 5 months ago by [email protected] to c/[email protected]

162 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 8 points 5 months ago* (last edited 5 months ago)

Andrew Jackson sold off enough Native American land to cause a real estate bubble, and between that and other things started a bank run, and the kind of people that think they'll win the shell game pretend it's because non-productive debt is good, and the problem was elimination of debt, not how it was done and other circumstances (among them being on a gold standard so you can actually do a bank run)

https://www.history.com/this-day-in-history/andrew-jackson-national-debt-reaches-zero-dollars