posted on Feb, 9 2014 @ 07:04 PM
My grandfather was of the opinion that a good market economy needs Depression every now and then because it's like the economy's way of trimming the
weak and unhealthy businesses from the overall market. The strong survive, grow and thrive. The question is whether or not our brain dead government
officials will have the sense to get out of way and let the market correct itself. The more they let it recover on its own, the quicker it will grow
There are very sound arguments to suggest that FDR prolonged the Great Depression with all his meddling rather than helping. There was a similar crash
in 1920 that was just as deep, and the government took no action, except to shrink itself (that was Coolidge when he got in). It took the economy
about a year to resolve with unemployment going to about 1% in about four or five years. That was one reason they called it the Roaring '20s. If you
wanted a job, you could have one, the expansion of the private sector was that rapid and profound after that major crash.
Of course, Hoover took advantage of all the money rolling in and tried to prevent and plan for another crash, and he reacted badly to the next market
correction in 1929. The rest is history as the government got ever more involved in trying to fix the problem.
edit on 9-2-2014 by ketsuko
because: (no reason given)