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Politics : Formerly About Applied Materials

AMAT 225.18

-1.5%

3:59 PM EST

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To: daryll40 who wrote (49059)	7/11/2001 9:42:33 AM
From: Jerome	Read Replies (2) of 70976

Didn't Fed RAISING interest rates AFTER the '29 crash CAUSE the Great Depression? No... when Hoover took office in 1928 there were already 6,000,000 Americans unemployed. The crash was just the last shoe dropping. The Fed raised interest rates after the crash because because European currencies were crashing, and it was thought the the best thing to do (at that time) was to have a strong dollar. The thinking was ...the world needs a strong currency and a strong dollar to give the world economic stability...overall a bad guess....this decreased liquidity....and the depression continued. Regards, Jerome

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