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IPFS News Link • Economy - Economics USA

America’s Greatest Depression Fighter

• - Jim Powell
President Warren Gamaliel Harding's reaction to the extreme recession of 1921: Cut federal spending by half, cut federal taxes by a third, and pay off debt. The Federal Reserve's reaction during this time, from what I've read, nothing at all.   The results: A landmark case and impeccable example of how rational economics without government interference is the only viable solution.

1 Comments in Response to

Comment by CharS
Entered on:

America is so basically wealthy (in resources and people) that I think that _even now_, if we had a man of the character of a Harding we could still could pull out of this deep decline we are in.

But we are surrounded by nothing but corruption and lies, so I guess it's not to be.  

While she lasted, America was *very beautiful.* 

I'm glad to have known her.


I'm glad to have known her.