{"id":766787,"date":"2026-06-29T01:25:42","date_gmt":"2026-06-29T01:25:42","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/766787\/"},"modified":"2026-06-29T01:25:42","modified_gmt":"2026-06-29T01:25:42","slug":"party-like-its-1929-macrobusiness","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/766787\/","title":{"rendered":"Party like its 1929 &#8211; MacroBusiness"},"content":{"rendered":"<p>In his seminal\u00a0The World in Depression, 1929\u20131939,\u00a0Charles Kindleberger argued that the Great Depression was not caused by the 1929 crash but by an interregnum between British and US hegemons.<\/p>\n<p>No country large enough or mature enough was able to step into international finance as the lender and consumer of last resort.<\/p>\n<p>The British economy was fading fast, and the US was not yet ready to carry the load. So economies splintered and entered a trade death spiral.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/06\/9cf2952d-428f-47b4-9417-8e86bc9a3d57_1245x1141.jpg\" width=\"1245\" height=\"1141\"\/>Let\u2019s turn to today\u2019s stock market bubble. TME asks whether it is 1995 or 2000.  <\/p>\n","protected":false},"excerpt":{"rendered":"In his seminal\u00a0The World in Depression, 1929\u20131939,\u00a0Charles Kindleberger argued that the Great Depression was not caused by the&hellip;\n","protected":false},"author":2,"featured_media":766788,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,63,99,164],"class_list":["post-766787","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-au","tag-australia","tag-business","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/766787","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=766787"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/766787\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/766788"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=766787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=766787"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=766787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}