Quote:
Originally Posted by $5 submissions
You do know government policies CREATED the depression of the 30s, right? (Started with the crash of 1929)
There was a similar dive in 1920 but there was no depression. Here's an interesting video on WHY
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OK I stopped watching after 4 minutes. It was the part where he said that the Government doing nothing is the way to solve the crisis.
The 1930 crash was entirely because the President of the day stood back and did nothing. He thought the market would solve the problems itself. He allowed the banks to collapse and the whole thing came down with a domino effect. Allowing people to buy and sell pieces of paper with no real value is also doing nothing. Markets left to themselves will keep on making money out of thin air if they can. And today they think they can.
When those that lent the money to get us into the crap we're in now, are forced to sell their homes and possessions to repay the debt they created they might not be so cavalier with other peoples money. Governments doing nothing is as bad as Governments doing the wrong thing. Like creating a Euro Zone and allowing countries like Greece, Italy, Spain, Portugal and Eire to borrow way beyond what they could afford. If you create a single currency, you have to have a single Chancellor to manage the currency and borrowing.
The reason the World recovered was Government inspired. If you need to be told what it was, you don't qualify to be in this thread.