Originally Posted by G19G20
Or maybe the fact that the feds STOPPED doing the stuff they were doing in the 20s, 30s, and 40s got us out of the Depression? ... The ending of the constant gov't interventions in the financial markets and monetary policies was what ended the Depression. We're seeing it playing out nearly identically right now. The more the gov't does to "fix it", the worse the situation becomes. The only way to resolve the issues to to let the market work and liquidate the bad debt, let failed companies fail (banks, eg), and stop trusting the Ivory Tower folks to be smart enough to actually "fix" anything.
With all due respect ... are you in a bizarro fact world?
I've never heard of FDR's policies characterized as less government intervention in financial markets and monetary policies. You do know that under FDR in 1933 we abandoned the gold standard. I would call that about as significant of an intervention into monetary policy as one could possibly imagine by the gov.
It was the drastic deregulation and laissez-faire policies of the "roaring 20s" that most economists attribute to the bust of 29 leading the the Great Depression!