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Remember, remember the Harding Recession!

 
Anonymous Coward
User ID: 1042715
Canada
07/20/2010 06:29 PM
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Remember, remember the Harding Recession!
To all of you Keynesian... remember the Harding recession...

20% unemployment, deflation of 15% retail sector, 37% for overall sales and total industrial production fell 30%.

Still, it was over in 18 months and nobody ever talks about it because it goes against the Keynesian propaganda that massive government stimulus is needed to restart the economy.

What happened during that recession, everyone that had to go bankrupt went bankrupt. Interest rates were not changed. There were no ``too big to fail`` BS and no bailouts. The system readjusted itself. It was hard but short.

But eh if you read Ron Paul's books, and a little of financial history, you would know about this.
Anonymous Coward
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07/21/2010 06:40 PM
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Re: Remember, remember the Harding Recession!
bump
Anonymous Coward
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07/28/2010 02:49 PM
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Re: Remember, remember the Harding Recession!
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Anonymous Coward
User ID: 373696
United States
07/28/2010 02:58 PM
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Re: Remember, remember the Harding Recession!
That was different.

Besides, in those days they knew nothing of statistics, and how to manipulate them.
Anonymous Coward
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08/23/2010 04:22 PM
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Re: Remember, remember the Harding Recession!
That was different.

Besides, in those days they knew nothing of statistics, and how to manipulate them.
 Quoting: Anonymous Coward 373696

lol
Anonymous Coward
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08/07/2011 01:39 AM
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Re: Remember, remember the Harding Recession!
bump
Anonymous Coward
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08/07/2011 06:01 AM
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Re: Remember, remember the Harding Recession!
Well actually he cut taxes AND reduced government spending and magically the US recovered from ww 1 hangover very quickly.
Anonymous Coward
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12/06/2012 01:45 PM
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Re: Remember, remember the Harding Recession!
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Anonymous Coward
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12/06/2012 02:18 PM
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Re: Remember, remember the Harding Recession!
I believe this is some of why the US became a war economy after WWII...we didn't successfully end the Great Depression through the means prescribed by the banking industry which ultimately just filled the pockets of those at the top. US hasn't stopped warring since WWII...perhaps it is an element of our economy through 'defense' that cannot be replaced; perhaps WWII was the 'stimulus' package that had to be constantly kept going through massive defense spending, research, and resource acquisition/intimidation to gain strategic advantages globally? Our economy does demand unlimited growth, at what point is the breaking point? Is there one? Marx thought so but he was wrong about much.

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