Next crash will be ‘worse than the Great Depression’: experts

NY Post ^ | September 22, 2018 | John Aidan Byrne

[corlorde]

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[Tammy8]

My kids (not that they are kids now...) are using the money they are making from economy upswing to pay down their debt, as in really paying down their debt.

So...I am just thinking surely a lot of people are doing that. Am I wrong about that?

[pepsionice]

Getting term-limits would probably be easier than getting rid of the Fed. It’s been around now for 105 years...being created out of the 1907 depression (today considered very unremarkable but that episode got long discussed in the Senate). I should add...that depression was mostly about copper speculation and a run on the banks which proved that the major banks were not as strong as people thought.

To achieve this riddance, you’d have to have a system of some type (maybe going to the gold standard...maybe a single cabinet officer with his own agency...etc).

I know this is a great patio discussion topic, but I just don’t see the public rating this in their top one-hundred things to be fixed.

And I would suggest this...a lot of the 1930 depression blame needs to be dumped on FDR and his dimwit advisers, but I think at least one-third of the blame goes the Fed that existed in 1929, and their willingness to punish speculators and banks for the Wall Street failure....letting them and the public suffer so they’d never repeat the 1920s continual speculation behaviors. When you go back and look at the 1920s...it was exactly like the 2008 speculation-lead-up period. The difference in 2008 was that the Fed stepped in and prevented massive failure (at a high cost).