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Politics : Formerly About Advanced Micro Devices
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To: i-node who wrote (463549)3/13/2009 2:25:49 PM
From: combjelly  Read Replies (1) of 1578107
 
"Well. That's it then. Concentrating of wealth CAUSES depressions. You see how fundamentally unsound that reasoning is, right?"

Yawn. No what I am saying and you know it. However, it takes a real moron to look at that and not think, "hmm, I wonder...". Especially when in the years following the Great Depression and the Great Wage compression, that suddenly the pattern changed. Now that we are back to a Gini not seen since the Gilded Age, we are back on the roller coaster again.

I guess critical thought isn't up there on your list either.

"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."

There wasn't a monetary policy in 1873. Businesses were totally unregulated and there were no attempts by the government to intervene. It just wasn't done.

"Not sure what you mean by "it". "

Sigh. The topic of discussion. Which I guess just butterflied out of your mind.

"but it those who believe that FDR's policy was effective against the Great Depression are becoming fewer and farther between."

Maybe amongst wingnuts. But they are a small minority among economists. The consensus still is that it helped.
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