cross-posted from: https://lemmy.ca/post/54239937

During the Great Depression, when banks foreclosed on farms, neighbors often showed up at the auctions together.

They’d bid only a few cents, and return the land to the family that lost it. Sometimes a noose hung nearby as a warning to outsiders not to profit from someone else’s ruin.

It was rough, but it worked, communities protected each other when the system wouldn’t.

If a collapse like that happened today, do you think people would still stand together or has that kind of solidarity disappeared? Could it happen again?

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[–] 22 points 1 year ago (4 children)

Private equity will buy everything with no public sale.

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  • [–] 2 points 1 year ago* (2 children)

    Assuming they don't completely collapse on their own due to their bad investments. This might actually happen from how things are going. Unfortunately, it'll also kick off a larger recession/depression

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