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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: orkrious who wrote (68634)	8/22/2006 11:33:51 PM
From: bart13	Read Replies (1) of 110194

smythe@depression -- trotsky, 13:52:20 08/22/06 Tue the main points i wanted to draw attention to are the following: 1. the primary CAUSE of the depression as such was the credit expansion during the boom of the 1920's. 2. the reason why it lasted so long (i.e., length and depth of the depression) were the government's interventions from 1932 onward, i.e. the misguided economic policies of the old commie FDR. in short, the major mistakes made by the Fed were made BEFORE the depression, while the administration administered the coup de grace after it had begun. funny enough, this view is almost the exact opposite of the one generally accepted one in mainstream circles, where it is held that the Fed was 'too tight' during the depression (utter nonsense) and that FDR's 'new deal' crapola somehow 'rescued the economy', or failing that idea, that the war did so (both utter nonsense as well). Personally, I think its both - high money creation rate before and low afterwards. And the less said about the "great" FDR, the better. Here's one to assuage my recent chart withdrawal symptoms, showing the before and after raw data in a rate of change view:

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