The FED Republicans And Democrates Actually Extended The Great Depression

Walter Williams

Great Myths Of The Great Depression


Mischief with the money and credit supply.

One prominent interpretation of the Federal Reserve System’s actions prior to 1929 can be found People who argue that the free-market
economy collapsed of its own weight in the 1930s seem utterly unaware of the critical role played by the Federal Reserve System’s gross mismanagement of money and credit. Mackinac Center for Public Policy | Great Myths of the Great Depression 3 in “America’s Great Depression” by economist Murray Rothbard. Using a broad measure that includes currency, demand and time deposits, and other ingredients, he estimated that the Fed bloated the money supply by more than 60 percent from mid- 1921 to mid-1929.3 Rothbard argued that this expansion of money and credit drove interest rates down, pushed the stock market to dizzy heights, and gave birth to the “Roaring Twenties.”

At the nadir of the Great Depression, half of American industrial production was idle as the economy reeled under the weight of endless and destructive policies from both Republicans and Democrats in Washington.

The Supreme Court c ame u n d e r attack by President Roosevelt because it declared important parts of the “New Deal” unconstitutional. FDR’s “court-packing” scheme contributed to the resumption of economic depression in 1937.

Ronald Regan was right, Government is not the answer to the problem, government is the problem!

Fast forward to today an the destruction of the US economy is once again happening because of government intervention and gross spending. This time it is different though. Obama has the purpose in mind to actually destroy the US economy. He is a recycled fascist similar to hitler. He will do anything to control America and destroy capitilism through his health care bill and global warming bill etc.

Special powers granted to organized labor with the passage of the Wagner Act contributed to a wave of militant strikes and a “depression within a depression” in 1937.

Hitler and Napoleon both rose to power in part because of the chaos of runaway inflations.

Rising prices are not the only consequence of monetary
and credit expansion. Inflation also erodes savings and encourages debt. It undermines confidence and deters investment. It destabilizes the economy by fostering booms and busts. If it’s bad enough, it can even wipe out the very government responsible for it in the first place and then lead to even worse afflictions.

Obama's goal is to force a collapse of the US economy.

Great Myths Of The Great Depression