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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (294523)	7/12/2006 6:29:51 PM
From: combjelly	Read Replies (2) \| Respond to of 1572099

"The depression had a lot more to do with horrible actions of government than it did with any failure of capitalism. " Not the case. The stock market was white hot through much of the 1920s. There was over-investment in the tech. companies of the time, autos, radio, etc. Because there weren't any controls to build hysteresis in the system, it overshot the top. And because so many people had borrowed money to buy into the stock market, and banks had few controls on how they loaned money, the crash took out the banking system also. And that is why it took so long to recover.