The Forgotten depression and how the government not helping, helped a lot....

[2aguy]

Yes....there was a depression called "The Great Depression" as everyone reminded me when I posted about the other really, really big depression in 1920. It was apparently huge.....and yet none of the government school graduates know about it...why...because the education wing of the democrat party doesn't want you to know about it. Why would they want to hide that from you? Because when that depression hit....nothing was done....and it ended....quickly.

James Grant Sets Stick of Dynamite to Bush Obamanomics - Breitbart

In his book, The Forgotten Depression, economic writer James Grant, editor of the prestigious Grant’s Interest Rate Observer, gives us the history of the depression of 1920-21.

It was a very deep depression, as deep as the one that succeeded in 1929. But in this case, the government did not intervene, and it was over in less than two years. Was this a coincidence? Grant does not think it was. He believes, as this writer does, that present government interventions have deepened our current economic malaise and are retarding a full recovery.

It should be obvious that a problem caused by too much government money creation, debt, and reckless spending cannot be solved by more of the same. These policies may make the patient feel better temporarily, just as another dose of heroin will stop withdrawal, but withdrawal is actually what the patient needs.

In the same way, when an economy crashes, it is because something is very wrong. The ensuing recession is not the problem; it is the cure. Bad debts and bad investments are liquidated so that a real recovery can follow. Assets do not disappear. Reckless investors lose them but prudent investors acquire them and make better use of them.

 

[Moonglow]

Does any student have to learn of every recession, depression panic and bank failure in the entire history of the USA?

 

[2aguy]

Does any student have to learn of every recession, depression panic and bank failure in the entire history of the USA?

No, but how about we learn about the ones that were successfully ended in about a year, and why it ended in a year instead of lying to our kids that FDR saved the country....by extending and worsening his depression and actually turning it into the "Great Depression" by raising taxes, tarrifs and increasing the size of government.

 

[Wyatt earp]

Does any student have to learn of every recession, depression panic and bank failure in the entire history of the USA?

those that don't know history intends to repeat, God damn America is only like 239 years old