Quote:
Originally Posted by rightwinger
Yeah. Do you have a point? Are you gonna blame the existence of the Fed for the Depression? It didn't help at that point...but not due to it's existence, but due to mismanagement. It pursued a contractionary policy, which wasn't smart.
It's not a perfect institution, but we need it. There was a stock market crash in the 80's you know....the Fed dealt with it immediately.
And the government needs to spend money, at times of recession. But, if there is a gigantic national debt....I don't think cutting taxes, and increasing spending is the way to go. Which is what we've been doing.
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God you infuriate me with the holier-than-thou attitude, especially because you don't seem to have a clue what you're talking about.
The reason the dollar is crashing is because it has
NO intrinsic value! If you had a gold standard, you have set amounts and limits. You don't get runaway inflation, which is what caused the Depression because the banks called in all their debts, driving people into bankruptcy.
So,
YES, we
are going to blame the Fed for the Depression. It's an
unconstitutional organization vested with power that the founding fathers sought to award (and did, if you actually read the fucking constitution) ONLY to the government itself.