On Fri, 05 Jun 2009 18:04:38 GMT, Richard the Dreaded Libertarian
wrote:

On Thu, 04 Jun 2009 16:07:16 -0700, Hawke wrote:

Try taking Santayana's advice, why don't you? In the 1920s the "fedgov" kept
completely out of American biz. The result was the Great Depression.

Actually the crash was just a crash - we'd have recovered in a few months,
but the socialistic policies of the fed. govt. turned it into the great
depression.

Thanks,
Rich
========
Partial credit...

The US had indeed started to recover from the stock market crash
in mid 1930 when the international economy imploded, again from
dodgy debt, mainly the WW1 debt and the German repatriations.
This took down not only the european economies, but also the US
financial system which was heavily involved in international
speculation and financing the German war repatriations so the
allies could get the money required to pay their US war debts.
This circular credit flow and perpetual motion financial machine
was unsustainable.
see
http://en.wikipedia.org/wiki/Dawes_Plan
and then the
http://en.wikipedia.org/wiki/Young_Plan

History seems to be repeating itself, albeit with a different set
of players in that another perpetual motion machine composed of
the circular flow of credit with a high gain feed back loop, this
time between the PRC and the US, is in the process of collapse,
shortly after a serious domestic [US] market crash. The EEC is
also in serious financial difficulties because of their
structural "anomalies."

"Prosperity is just around the corner"
- Herbert Hoover"


Unka' George [George McDuffee]
-------------------------------------------
He that will not apply new remedies,
must expect new evils:
for Time is the greatest innovator: and
if Time, of course, alter things to the worse,
and wisdom and counsel shall not alter them to the better,
what shall be the end?

Francis Bacon (1561-1626), English philosopher, essayist, statesman.
Essays, "Of Innovations" (1597-1625).