8537
VIP Member
Wait, are you saying that the Fed made some seriously stupid mistakes between 1929 and 1933?GDP, 1929-1936
1929: 103.6B<--Fed raises rates, tightens money supply
1930: 91.2B<--Fed raises rates, tightens money supply
1931: 76.5B<-- Fed allows bank collapse after collapse
1932: 58.7B<-- Fed continues to draw money OUT of US economy, Democrats reveal names of trouble banks, exacerbating run on banks
1933: 56.4B <-----FDR takes office after taking a cruise and ignoring Hoovers pleas for help stemming the bank collapses, inauguration was in March
1934: 66.0B
1935: 73.3B
1936: 83.8B
Of course! Tell me, what changed in 1933 that made them make better decisions?