Contrast this "hands off" approach to that of just a decade later when instead of forcing the bubble credit expansion of the late 1920s out of the system The Government instead undertook to "manage" the problem -and turned a speculative bubble bust into a decade-long economic mess.
FDR and The Fed wasn't the solution to The Depression - they were in fact the cause of it, turning a necessary credit contraction into an economic disaster, and we're now doing our level best to repeat those mistakes.
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