scottsoperson
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Wow....Talk about selective reading.
the pot calling the kettle black.
Wow....Talk about selective reading.
By the end of 1932, more than 13 million American workers were unemployed. Anxious citizens withdrew their deposits from banks and hoarded cash and gold. By early the next year, more than 9,000 banks had failed.
without tarp.
By the end of 1932, more than 13 million American workers were unemployed. Anxious citizens withdrew their deposits from banks and hoarded cash and gold. By early the next year, more than 9,000 banks had failed.
without tarp.
That's stupid. Hoarding is a crazy concept. People save money with the intent to spend it eventually. Nobody saves money for the sake of saving money.
saving money is anti-stimulative. spending money is stimulative.
well the consensus among economists appears to be that saving money is anti-stimulative.
well, keynes was an economist. he felt deficit spending would get us out of a depression. during ww2 the national debt was larger than the national economy. no more depression. keynes was correct.
Except we had rationing; we were still in a depression during WWII. It was only when rules were relaxed after WWII that we finally got out of the depression.
so apparently that massive deficit spending did not hurt the economy. the depression was going on during ww2? link?