So you still have not answered my questions.
Noted.
Plus - here are other questions from this thread that you have yet to answer (to my knowledge). So please answer all the highlighted questions:
So, you say the cause of the recession was Federal Reserve tightened monetary policy?
You do realize that the Fed increased the monetary supply by 62% during the mid-late 20's?
They did not cause it by tightening the policy. They caused it by over-inflating the economy by 'printing' too much money in the 20's and when they stopped when they saw the economy was overheating (and they could not keeping printing at that pace forever), it collapsed as it had gotten dependent on that new money pouring into it from the Fed.
You Keynesians just don't seem to get it - if you make money too plentiful, people will get greedy and want more and more...and they will take greater and greater risks to get it because it was so easy to get in the first place.
That is what (more or less) caused the Crash and that is (more or less) what caused the housing boom/bust.
And both can be traced to governments either printing too much money or making credit too cheap.
Explain this to me - why did Britain recover much faster then America did (and their unemplyment rate was as bad as America's in the early 30's) even though they ran a fraction of the deficits that Hoover/FDR did?
And I don't want another baseless theory. I want to see a theory with a link to unbiased factual evidence of that theory.
BTW, the reason is obvious. Government stimulus stunts growth. Sure, it gives it a quick fix at the beginning - like a junkie when he first gets high. But once the initial high passes, the economy stagnates as it becomes dependent on government stimulus just to get by. That is why the Great Depression and it's aftermath dragged on for a decade.
And that is EXACTLY what is happening now. The DOW goes up, not on good fundamentals. It goes up when the market thinks the government/Fed is going to print more money.
And btw - if FDR prolonging the Great Depression is unprovable...then where is your proof that he did NOT prolong the Great Depression?
And if you cannot prove it - then what is your factual basis for calling it 'nonsense'?
Have a nice day.
They are from the following post
http://www.debatepolitics.com/2012-...owest-60-years-w-166-a-66.html#post1060580889