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Politics : American Presidential Politics and foreign affairs
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To: DuckTapeSunroof who wrote (29580)9/18/2008 1:20:21 PM
From: TimF  Read Replies (1) of 71588
 
I have to disagree that another great depression was a serious risk, at least not without the equivalent of a lot of the other things that caused it, or caused it to be severe and long enough to actually be "the great depression", rather than just another relatively severe downturn (the equivalent of Smoot-Hawley, very tight monetary policy, tax increases, the dust bowl, price controls, destruction of agricultural production, National Recovery Administration codes and pressure, to increase wages, set working hours, and production and sales techniques and practices, etc.)

OTOH a downturn can fall very short of the great depression and still be devastating.
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