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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (20013)	9/6/1998 10:18:00 AM
From: IQBAL LATIF	Read Replies (2) of 50167

Easy money policy v/s Tight money policy-- the real rate of interest are the highest, the busts are not made in this kind of moentary environment-- 1928-1929 Stock Market boom in US The Fed takes no effective action to stop the boom getting out of control. p 509 1929 The Great Crash The New York stock market crashes on 24 October. The Fed, whose easy money policy stoked the boom, now tightens credit causing a slump in the US economy. p 509-510 1929-1930 The Great Depression Widespread bank failures and the surviving banks' curbs on lending cause businesses of all kinds to go bankrupt. The US net national product falls by over half. p 510

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