The spectre of 1932: How a loss of faith in politicians and democracy could make 2012 the most frightening year in living memory
Dominic Sandbrook
Daily Mail [UK]
31st December 2011
The dawn of a new year is usually a time of hope and ambition, of dreams for the future and thoughts of a better life. But it is a long time since many of us looked forward to the new year with such anxiety, even dread.
Here in Britain, many economists believe that by the end of 2012 we could well have slipped into a second devastating recession. The Coalition remains delicately poised; it would take only one or two resignations to provoke a wider schism and a general election.
But the real dangers lie overseas. In the Middle East, the excitement of the Arab Spring has long since curdled into sectarian tension and fears of Islamic fundamentalism. And with so many of the world’s oil supplies concentrated in the Persian Gulf, British families will be keeping an anxious eye on events in the Arab world.
Meanwhile, as the eurozone slides towards disaster, the prospects for Europe have rarely been bleaker. Already the European elite have installed compliant technocratic governments in Greece and Italy, and with the markets now putting pressure on France, few observers can be optimistic that the Continent can avoid a total meltdown.
As commentators often remark, the world picture has not been grimmer since the dark days of the mid-Seventies, when the OPEC oil shock, the rise of stagflation and the surge of nationalist terrorism cast a heavy shadow over the Western world.
For the most chilling parallel, though, we should look back exactly 80 years, to the cold wintry days when 1931 gave way to 1932…

The Battle of Cable Street: Mosley’s fascists tried to march through the Jewish East End (this from Oct 1936), a scene that could be repeated. Click here to enlarge.

The ultimate warning from history: If our political leaders fail to provide adequate direction the results, as demonstrated 80 years ago, could be catastrophic

The end of Democracy: The dire situation in 1932 led to many threats to the democratic system we so value, including the assassination of the French President Paul Doumer. Click here to enlarge.

Barack Obama cuts a similarly impotent, indecisive and isolationist figure. The difference is that in 1932, one of the greatest statesmen of the century, the Democratic politician Franklin D. Roosevelt, was waiting in the wings

In Italy, the Fascist leader Benito Mussolini, pictured with Hitler, strengthened his grip, consolidating Italian power in the looted colonies of Albania and Libya. Click here to enlarge.
…Our world is poised on the edge of perhaps the most important 12 months for more than half a century. If our leaders provide the right leadership, then we may, perhaps, muddle through towards slow growth and gradual recovery.
But if the European elite continue to inflict needless hardship on their people; if the markets continue to erode faith in the euro; and if Western politicians waste their time in petty bickering, then we could easily slip further towards discontent and disaster.
The experience of 1932 provides a desperately valuable lesson. As a result of the decisions taken in those 12 short months, millions of people later lost their lives…
This must-read article and history lesson may be read in full at the Daily Mail.
Related: MAIL COMMENT: The lessons of a year of horrifying violence