Kevin_Kennedy
Defend Liberty
- Aug 27, 2008
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Is it your claim that the century that preceded 1913 had fewer panics and financial collapses?
Not less, but none were comparable to any of the ones listed. However, we can point to the government tampering with the interest rates that caused those panics before the Fed, just as the Fed does now.
The panic of 1837 was far worse than the 1970's. 1873 and 1901 were worse still. And 1907 was even worse.
Did they last as long?