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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: pogohere who wrote (83705)7/17/2007 2:42:03 PM
From: Elroy Jetson  Read Replies (1) of 110194
 
The rate of expansion of the credit bubble during Calvin Coolidge's administration could not be maintained during the subsequent administration of Hebert Hoover.

Monetarists claim all would have been well, had Hoover simply expanded the credit bubble, perhaps by dropping money from aeroplanes and dirigibles.

Due to a rapid decline in monetary velocity this would have required an enormous increase in money, as opposed to the rapid increase in money which occurred.

The simple truth is that the hollow prosperity created by the credit bubble of the 1920s could no longer be maintained short of ending up like modern day Zimbabwe.
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