Fred Voetsch

2009 Depression Will Be Nothing Like 1929

On Mar 06 09:54 AM Harry Tuttle wrote:
> 4) The Depression was finally ended by WWII. With current technology,
> that outcome is no longer plausible (not that War is ever a desirable
> solution).

Please quit spreading this fallacy. The economy was on the mend in late 1932 and was then hampered by government intereference, especially high taxes. Still, the economy was already improving quite rapidly through most of the 1930's, it's just that the damage was so great that it was going to take a decade or so to restore confidence to the American people and the business community.

2009 Depression Will Be Nothing Like 1929

This is perhaps the most foolish article I have read. In essence it says that "this time it is different".

Fool!

I suggest you take a few hours out of your busy day and research generational patterns, starting over at www.generationaldynami...

Then research The Great Depression and actually read writings from that period instead of what historians have written. You will find that things were very similar to now and that few believed that things could get worse until they actually got worse. You will also find that in fact, the government did a lot to try and stop the rapid decline but as now, was unable to.

Once you build up a huge amount of leverage in a financial system there is only one way to go: deflation. You should also be open to the idea that is may be WORSE this time because we have such a globally linked economy. As they say, "The bigger they are, the harder they fall".