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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: DavesM who wrote (130506)3/6/2001 10:12:26 AM
From: Zoltan!  Read Replies (2) | Respond to of 769670
 
What matters is "real interest rates".

During the Depression, real interest rates were very high and banks were reluctant to make loans due to liquidity problems and businesses were reluctant to borrow because of the high real rates and the declining business environment.

Remember, both Hoover and FDR raised tax rates greatly to avoid "crowding out". But that only succeeded in further depressing the real economy and creating ever greater deficits.


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