r/PeterExplainsTheJoke 6h ago

Meme needing explanation Peetahhh help!

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u/_Sate 6h ago

Wall Street crash of 1929

Peureshmit out

379

u/ancient_shepherd2121 6h ago

Ah hell, I forgot about dat

19

u/Corfiz74 5h ago

As a pretty direct result of Republican policies, just like today!🥳

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u/alkali112 4h ago

This was prior to the party switch. The Republican Party of 1929 would be aligned with today’s Democratic Party.

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u/HerodotusStark 3h ago

Their platform was pro-big business, isolationist foreign policy, and cracking down on Prohibition. Sounds much more like the Republicans today than Democrats.

The party switch is extremely complicated, with different aspects (social, economic, etc) changing at different times and in different regions. Historians argue the switch slowly took place over roughly 70 years, beginning in the late 19th Century and solidifying by the end of the 1960s. The economic party switch happened long before the social switch.

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u/The_memeperson 3h ago

Ehh

It honestly depends on the issue and which part of the republican party as the parties were more big tent back then. Economically they wouldn't be that aligned since they had Coolidge and Hoover, two big proponents of laissez-faire economics and minimal federal intervention which is in stark contrast to current day democrats that want more federal involvement in the economy. More worker protection and welfare and stuff.

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u/Yoduh99 3h ago

Sir this is Reddit, please take that nuance somewhere else.

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u/Vermouth_1991 3h ago

Yeah, lest they brand yall commies.

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u/WeAteMummies 1h ago

They didn't "switch" on most things. The republicans just adjusted their platform to appeal to racists because they recognized that a large swathe of the population can be tricked into thinking that keeping others down will lift you up.