The great depression myth...

[Arbo]

http://www.youtube.com/watch?v=dgyQsIGLt_w&feature=player_embedded#t=524

Right? Wrong?

[SassyLady]

Right.

[Gaffer]

Right.

[fj1200]

Right? Wrong?

I love a good GD thread. Did he mention Smoot and Hawley?

[Little-Acorn]

Only odd thing he said, was that most people thought the Great Depression was caused by a failure of private enterprise.

They do?

What is their problem?

[fj1200]

Right? Wrong?

At least half right IMO. I think the Fed failed on the Monetary side and the Congress/POTUS failed on the Fiscal side. When one side fails you get a recession, or at best middling growth, but when both fail you get depressions and deep recessions.


Only odd thing he said, was that most people thought the Great Depression was caused by a failure of private enterprise.

They do?

What is their problem?

They listened to the conventional wisdom for the past 80 years.

[Arbo]

Only odd thing he said, was that most people thought the Great Depression was caused by a failure of private enterprise.

They do?

A lot of the 'common belief' that is put forth generally by one sort of ideology is that it was 'greedy bankers' and 'greedy traders'. Thus we hear the same things in current times in terms of where those folks put 'the blame.'


At least half right IMO. I think the Fed failed on the Monetary side and the Congress/POTUS failed on the Fiscal side. When one side fails you get a recession, or at best middling growth, but when both fail you get depressions and deep recessions.

Sounds reasonable.

[fj1200]

A lot of the 'common belief' that is put forth generally by one sort of ideology is that it was 'greedy bankers' and 'greedy traders'. Thus we hear the same things in current times in terms of where those folks put 'the blame.'

Have you met revelarts yet? ;)


Sounds reasonable.

I used to argue the GD on another forum more than I can remember. :laugh:

[Arbo]

Have you met revelarts yet? ;)

I think briefly, but nothing memorable yet. ;)


I used to argue the GD on another forum more than I can remember. :laugh:

Isn't it funny how the same arguments rage everywhere, over and over and over.