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Politics : Formerly About Advanced Micro Devices

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To: combjelly who wrote (463543)	3/13/2009 1:28:36 PM
From: i-node	1 Recommendation Read Replies (2) of 1578206

Not really. Just look at history. Right before the Great Depression, the Long Depression and several others, you saw the same trend of concentrating wealth. Well. That's it then. Concentrating of wealth CAUSES depressions. You see how fundamentally unsound that reasoning is, right? You are totally ignoring the fact that we pretty much know what precipitated (I wouldn't use the word "cause", since the "cause" is probably as much to do with the economic cycle as anything) both of these depressions -- which was monetary policy. The Fed actions in 28 and 29 had a lot to do with it. I don't know much about the '73 depression, but I do know that it has credibly been attributed to monetary policy, as well. Immediately following those events, it reversed and in all cases except for the Great Depression, took up where it left off until the next Panic. Not sure what you mean by "it". Clearly, you believe what you believe, but it those who believe that FDR's policy was effective against the Great Depression are becoming fewer and farther between.

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