Could this be a replay of 1929.....?

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Herbert Hoover was president when the stock market went belly-up in 1929. It was the starting gun of a very deep depression that all but destroyed the economy of the United States of America. Hoover did nothing, but figured that big business would revive and the "trickle down" system would get the gears turning and the nation would be on the route to recovery. Well, that didn't happen, the situation just got worse. My Grandfather was the 1st auto mechanic in our county and headed up the service department of the largest auto dealership located here in the late teens and early 20's. He set out on his own in 1925 and formed the first Chrysler dealership in our county. Two of his sons followed the industry and were very good mechanics. One of his daughters (my mother) was able to go to college and received a fine education. The family wanted for nothing they were very well off financially. Then the bubble burst and in 1930 he lost his dealership. One of the causes was that he trusted too many customers. He co-signed notes at the banks for buyers and most deals were closed with handshakes and promises. Auto repair bills weren't paid and banks called in the notes he signed, it didn't take long before he was totally broke and lost everything but his tools and mechanical skill. He lost the land where a new home for the family was going to be built. The family moved into one house and it took everything that he and his sons could raise to feed and house us. At Christmas time my Grandfather repaired a hardware dealer's auto and received toys for the five young children. I received a windup train, my sister got a Shirley Temple doll. We ate a lot of cabbage and potatoes with very little meat. My uncle worked on a person's car while it was parked outside in our driveway, he spent two days tuning up the car using as little parts as possible and made it run perfect. He charged the man $1.25 and thought he was overcharging him. They took the money and bought pork steak. We hadn't had any meat for two weeks, they salted it down to try and keep it from spoiling as we had no refrigerator. We had an ice box but no ice. Yes, things were tough, us young kids didn't know the difference, we played with what we had and enjoyed growing up with nothing but the love and care of our family. All of this I know for a fact, I lived it, I was born in 1929. A few bankers made a lot of money as the result of the depression. Farms and property was forclosed on and bankers had the inside track to buy them up for pennies on the dollar. Several around her got rich. The first Ford dealership was forclosed and a banker took it over. The same Ford dealership is still alive today. The owner is a friend of mine and he is worried sick and doesn't sleep at night. He looks terrible and has aged 10 years in the past 6 months. He has a lot of SUV's, Trucks and cars on his lot and they are just sitting there. Very few potential buyers walk his lot and those that want to buy can't get financed by the local banks. It's not good. In 1932 Franklin Delano Roosevelt was elected to the presidency. He gave people hope with his nightly radio chats. He put in place government programs such as: the WPA or as people would call it PWA (Pa's Working Again). They built parks, roads, bridges, dams and got the economy rolling again. It didn't happen overnight, times were still tough during the next few years, but we did recover. FDR will go down as one of the greatest Presidents of this country. We had best all pray that the same thing doesn't happen that took place in 1929.