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Understanding the Great Depression and Failures of Modern Economic Policy: The Story of the Heedless Giant

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HISTORY OPENS WINDOWS ON THE FUTURE. The Great Depression highlights your government's capacity for economic policy stupidity. Do you understand the policy failures behind the Crash of '29? Or the policies involved in the aborting of the substantial spring 1930 economic and stock market recovery? Or the policies that prevented the spectacular summer 1932 bull market in sto HISTORY OPENS WINDOWS ON THE FUTURE. The Great Depression highlights your government's capacity for economic policy stupidity. Do you understand the policy failures behind the Crash of '29? Or the policies involved in the aborting of the substantial spring 1930 economic and stock market recovery? Or the policies that prevented the spectacular summer 1932 bull market in stocks and agricultural commodities from stimulating recovery in the broader economy? Or how New Deal policies extended the Great Depression for an additional half decade despite more than doubling the monetary supply and massive resort to budget deficits? Or how the Great Depression ended in 1940 with unemployment dropping about 7 percentage points in the two years before the U.S. entered WW-II and began its massive wartime budget deficits? The Great Depression is just a highlight in a century of repeated failures for Federal Reserve System monetary policy. Under its care, the dollar has lost about 90 percent of its purchasing power. Its policies have also bestowed upon the economy the Keynesian inflationary morass of the 1970s and the asset price boom and bust nature of the current business cycle. Understanding why interest rate suppression policies aren't working, haven't worked in the past, and can never work is herein explained.


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HISTORY OPENS WINDOWS ON THE FUTURE. The Great Depression highlights your government's capacity for economic policy stupidity. Do you understand the policy failures behind the Crash of '29? Or the policies involved in the aborting of the substantial spring 1930 economic and stock market recovery? Or the policies that prevented the spectacular summer 1932 bull market in sto HISTORY OPENS WINDOWS ON THE FUTURE. The Great Depression highlights your government's capacity for economic policy stupidity. Do you understand the policy failures behind the Crash of '29? Or the policies involved in the aborting of the substantial spring 1930 economic and stock market recovery? Or the policies that prevented the spectacular summer 1932 bull market in stocks and agricultural commodities from stimulating recovery in the broader economy? Or how New Deal policies extended the Great Depression for an additional half decade despite more than doubling the monetary supply and massive resort to budget deficits? Or how the Great Depression ended in 1940 with unemployment dropping about 7 percentage points in the two years before the U.S. entered WW-II and began its massive wartime budget deficits? The Great Depression is just a highlight in a century of repeated failures for Federal Reserve System monetary policy. Under its care, the dollar has lost about 90 percent of its purchasing power. Its policies have also bestowed upon the economy the Keynesian inflationary morass of the 1970s and the asset price boom and bust nature of the current business cycle. Understanding why interest rate suppression policies aren't working, haven't worked in the past, and can never work is herein explained.

38 review for Understanding the Great Depression and Failures of Modern Economic Policy: The Story of the Heedless Giant

  1. 4 out of 5

    Barbara White

    This book is an in-depth study of the economics of the Great Depression, and what we should not do in this day and age. There are lessons to be learned from our history, and our mistakes. The facts are presented, with an explanation following. I learned much. Thanks to Goodreads First Reads for a copy of this book.

  2. 4 out of 5

    Monika Iszard

    This is a Goodreads first reads win book--Interesting book--it is basically telling you don't put someone in charge of something that they have no idea what to do with, but will try and convince you that they do, because you will get so screwed and so will everyone else that you think that you are helping, but you're not. Money, not matter how it is used, is big, big business, and if it is mishandled as all this was--you emd up having one of those great moments in history--not the one that you w This is a Goodreads first reads win book--Interesting book--it is basically telling you don't put someone in charge of something that they have no idea what to do with, but will try and convince you that they do, because you will get so screwed and so will everyone else that you think that you are helping, but you're not. Money, not matter how it is used, is big, big business, and if it is mishandled as all this was--you emd up having one of those great moments in history--not the one that you wanted, but, history, none the less. For a very interesting perspective on the great depression and other money 'moments' I would recommend this book.

  3. 5 out of 5

    Lori Tatar

    In a clear and factual manner Dan Blatt Layla out in chronological orders the behaviors and events that led the the Great Depression. The book is interesting as a history of some of the most difficult times our nation has experienced. It can also be seen as a cautionary tale. As much as there is no way to predict what will happen in the financial markets, by being cognizant of some of the earlier markers of the times we failed, we may prevent similar events, at least to some degree, from happeni In a clear and factual manner Dan Blatt Layla out in chronological orders the behaviors and events that led the the Great Depression. The book is interesting as a history of some of the most difficult times our nation has experienced. It can also be seen as a cautionary tale. As much as there is no way to predict what will happen in the financial markets, by being cognizant of some of the earlier markers of the times we failed, we may prevent similar events, at least to some degree, from happening in the future. With the recent market volatility, I found the book especially pertinent.

  4. 4 out of 5

    Beverly Hexum

  5. 4 out of 5

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  6. 5 out of 5

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