en.wikipedia.org — The 1921 depression proved to be the sharpest economic downturn since the emergence of the business cycle, but it also was one of the shortest reversals. The government intervened minimally, wage rates were permitted to fall, and government expenditures and taxes were reduced. The recession was over in one year.
Feb 26, 2009 View in Crawl 4
Closed AccountFeb 27, 2009
Increase the money supply. You cannot get out of a recession by doing nothing. You cannot expand an economy without spending, People are much smarter now and are avoiding the most critical things, like panicking. Obama is on the right track with the exception of a few areas.If you don't understand the difference in laws pertaining to the banking industry I can't explain that here as there as so many
waiting2awakeFeb 27, 2009
I know this is obvious but. The Market != The government. The market is a nebulous group think that is impossible to control and manage by its' very nature. The government, is forced to try and control and manage by its' very nature. Neither the two shall meet, neither the two understand the other. That is why a purely market condition for the running of a society is disastrous and why any government intervention with the market(Not the businesses themselves, but the buying and selling of the stock) also ends up in disaster. It is merely the way of things.
tekgnosFeb 27, 2009
Yep, the past is over! That is why gold isn't worth anything right now. We are in the economy of the future and old laws don't apply. We can inflate our way to prosperity and we don't need any sort of standardized value metric that nobody can increase or decrease, we just need some liquidity baby.
aaronsdropzoneFeb 27, 2009
Those who are ignorant of their history are doomed to repeat it.
johnnehblazesFeb 27, 2009
Are you chinese? ><
ronpaulsFeb 28, 2009Submitter
obviously, you aren't in the financial community...it is true that there is no consensus definition for a depression. 10% gdp drop peak to trough is often used however. Furthermore, if you indeed realize that there is no consensus definition, then you will see how foolish you are to distinguish between a recession and depression in this case.when i say source, obviously i don't mean a "primary" source - I just mean any independent corroboration.
Closed AccountMar 9, 2009
That of course was in a different time where cost of living was little to nothing.
lmdslamMar 2, 2010
People also assume that Keyens economic ideals went in effect right away after the Great Crash of 1929. Roosevelt finally Primed the pump fully in 1938, thats 9 years into the depression. The sad thing about recession and depressions is that the monopolies get even bigger because of all the small business and competitors go down. There hasnt been a depression since, long live keyens saving the middle class.