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CNBC Admits 30's Depression was Fed's Fault!

 
Economic Meltdown
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User ID: 1193473
United States
08/17/2011 10:41 AM
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CNBC Admits 30's Depression was Fed's Fault!
Just on, just now. Talking about similarities with 30's depression....

Host started with, "Lots of the reasons it started were self-inflicted; The fed restricting credit, Roosevelt raising taxes."
Anonymous Coward
User ID: 108458
United States
08/17/2011 10:54 AM
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Re: CNBC Admits 30's Depression was Fed's Fault!
I agree the fed was the culprit but not for the reasons stated.

Before the bust came the boom as it always does.
They created easy money, people speculated with the 'borrowed' easy money instead of saving and investing, prices rose to unsustainable levels.

Then, when the Fed had a large number of suckers in the game.
They turned off the money spigot and it all came crashing down.

Sound familiar? it should it is exactly how the so-called housing bubble happened.

Thank you Keynes

Happens over and over and will continue to do so unless we adopt another economic strategy based on sound money and investment based on personal savings.

The Austrian model comes to mind.
Anonymous Coward
User ID: 1551483
United States
09/23/2011 10:14 AM
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Re: CNBC Admits 30's Depression was Fed's Fault!
You can't admit to something you didn't do.
You also can't admit something someone else did. That would be called exposing.

CNBC wasn't around in the 30's.
Anonymous Coward
User ID: 1164945
United States
09/23/2011 02:39 PM
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Re: CNBC Admits 30's Depression was Fed's Fault!
You can't admit to something you didn't do.
You also can't admit something someone else did. That would be called exposing.

CNBC wasn't around in the 30's.pick
 Quoting: Anonymous Coward 1551483


putin
Anonymous Coward
User ID: 1794787
Australia
09/23/2011 02:42 PM
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Re: CNBC Admits 30's Depression was Fed's Fault!
History repeats...





GLP