Top 3 Myths About the Great Depression and the New Deal

[Muzz]

Historian Stephen Davies names three persistent myths about the Great Depression.

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Myth #1: Herbert Hoover was a laissez-faire president, and it was his lack of action that lead to an economic collapse. Davies argues that in fact, Hoover was a very interventionist president, and it was his intervening in the economy that made matters worse.

Myth #2: The New Deal ended the Great Depression. Davies argues that the New Deal actually made matters worse. In other countries, the Great Depression ended much sooner and more quickly than it did in the United States.

Myth #3: World War II ended the Great Depression. Davies explains that military production is not real wealth.; wars destroy wealth, they do not create wealth. In fact, examination of the historical data reveals that the U.S. economy did not really start to recover until after WWII was over.

[Calz]

Depression = flood market with easy money then later withdraw it when everyone is thoroughly in debt.

Confiscate tangible assets (homes land whatever) when payments with the worthless money cannot be met.

Not rocket science.

[ThePythonicCow]

Depression = flood market with easy money then later withdraw it when everyone is thoroughly in debt.

Confiscate tangible assets (homes land whatever) when payments with the worthless money cannot be met.

Not rocket science.
I'm figuring that those who have not read the history on this are fixing to get a refresher lesson soon.

[Lord Sidious]

Depression = flood market with easy money then later withdraw it when everyone is thoroughly in debt.

Confiscate tangible assets (homes land whatever) when payments with the worthless money cannot be met.

Not rocket science.
I'm figuring that those who have not read the history on this are fixing to get a refresher lesson soon.

Very much sooner rather than later.

[Calz]

Depression = flood market with easy money then later withdraw it when everyone is thoroughly in debt.

Confiscate tangible assets (homes land whatever) when payments with the worthless money cannot be met.

Not rocket science.
I'm figuring that those who have not read the history on this are fixing to get a refresher lesson soon.

Isn't it "funny" how all the laws governing banks put in place after the depression have "mysteriously slipped away" over the years???

[Muzz]

You need a gun to rob a bank and a bank to rob the world.

[leemadison11]

OP: I agree with you (and Davies) about the fact that war destroys economies. I’ll go a step further, say it’s senseless and express the frustration I feel at all the lives that come to a premature end thanks to the war. However, in this particular case the war created employment, gave women the encouragement to work, and hence houses that were starving during the Great Depression (http://www.shmoop.com/great-depression/) now had two incomes coming in.

[Calz]

However, in this particular case the war created employment, gave women the encouragement to work, and hence houses that were starving during the Great Depression (http://www.shmoop.com/great-depression/) now had two incomes coming in.

All part of the illusion since the "illusionists" were the one's who created the depression in the first place (so they could scoop up tangible assets for pennies on the dollar).

Sure ... while they were at it "they" funded both sides of the war(s) like "they" usually do so they also profitted handsomely there as well.

[The One]

The media have huge part to play in this

No newspapers no media = No depression/Recession we wouldn’t know.

It’s a con and purposely planned