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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?


To: Tommaso who wrote (60778)5/26/1999 11:48:00 PM
From: JF Quinnelly  Respond to of 132070
 
Ah. The operative word is "mild". He's addressing the deflation of the 30's in A Monetary History of the United States, somewhat beyond mild, I suppose. But he does appear to say there that if the Fed had been way more aggressive at supplying liquidity in the beginning that the Depression would have been little more than a two year recession.