08-27-2016, 02:21 PM
(08-26-2016, 03:40 PM)Anthony Wrote:Quote:The supply side paradigm yielded a good outcome in 1920-21
It did if you didn't die of starvation or exposure in the Forgotten Depression if 1921-22. But a visit to any large cemetery will show that many, many did in fact die.
The 80-year rule suggests that the busts of 1920 and 2000 were similar in timing and effect: Americans got out of the recession, learned the wrong lessons, and set up an even bigger Crash because they applied the wrong ansers.
The ideal subject of totalitarian rule is not the convinced Nazi or the dedicated Communist but instead the people for whom the distinction between fact and fiction, true and false, no longer exists -- Hannah Arendt.