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To: Will88
The Fed had been expanding the money supply during the 20's.

The 'bust' had to come, but the problem was the solution, instead of letting the Market correct itself, Hoover and then FDR got the government involved.

17 posted on 03/09/2018 10:30:40 AM PST by fortheDeclaration (Pr 14:34 Righteousness exalteth a nation:but sin is a reproach to any people)
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To: fortheDeclaration
The Fed had been expanding the money supply during the 20's.

Whatever happened in the 1920s, the decisions of the Fed after the stock market crash of 1929 caused the Great Depression. Shrinking the money supply, then allowing the runs on banks and the bank failures created a banking and money supply crisis. Some older ancestors of mine described it as "nobody had any money". A schoolteacher ancestor was paid in script rather than dollars, script that merchants would then discount when used for purchases.

Near the bottom of the article linked in #13, this explanation is provided under the paragraph entitled: "The Road Not Taken".

18 posted on 03/09/2018 11:05:52 AM PST by Will88
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To: fortheDeclaration

Hoover was a freaking disaster. We had two great economic miracle workers in Harding and Coolidge, but the big government arm of the GOP reared its ugly head.


23 posted on 03/09/2018 11:41:31 AM PST by Sam Gamgee
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