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MurikaMan October 16th, 2013 12:31am

FDR prolonged the depression.

Agree SpendSpendSpend
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Porcupine
10/15/13 8:03 pm

He not only prolonged the depression, he was an armed robber threatening the people with violence unless they give him their gold.

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think4yourself Not a safe space
10/15/13 7:30 pm

www.heraldonline.com/2013/10/15/5308135/choice-of-yellen-signals-return.html

Article about Keynesian economics and the last half talks about fdr creating the Great Depression.

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duey in a fools paradise
10/15/13 7:00 pm

www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&ved=0CC4QFjAA&url=http%3A%2F%2Fnewsroom.ucla.edu%2Fportal%2Fucla%2Ffdr-s-policies-prolonged-depression-5409.aspx&ei=tfJdUuiIIOrs2QXx0YGwCw&usg=AFQjCNEcG9HXNJ-4MT11FaQdbF6JxfubQw&sig2=8pnD

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skinner Jersey City
10/15/13 6:59 pm

I agree look at the Depression of 1920

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think4yourself Not a safe space
10/15/13 7:34 pm

President Warren G. Harding faced an annual unemployment rate of 11.7 percent in 1921, he did absolutely nothing, except for cutting government spending the following year went down to 6.7 percent, in the year after that, 2.4 percent.

think4yourself Not a safe space
10/15/13 7:34 pm

Calvin Coolidge, the ultimate in non-interventionist government, the annual unemployment rate got down to 1.8 percent.

duey in a fools paradise
10/15/13 6:56 pm

There is a fairly recent study by two economists out of Berkley, I believe. It says he may have prolonged it by 7 years with his anti-capitalist policies. I'll see if I can find a link.

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duey in a fools paradise
10/15/13 7:01 pm

Actually it was UCLA

TempName14 Everywhere but nowhere
10/15/13 6:48 pm

Nobel economist Milton Friedman proved that in his circa '72 book about the Great Depression.

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PeppyHare Do a barrel roll
10/15/13 6:54 pm

I didn't know he proved fdr did, I thought he proved the fed did

TempName14 Everywhere but nowhere
10/15/13 6:56 pm

Bernanke agrees with him on that too.

PeppyHare Do a barrel roll
10/15/13 7:03 pm

The conclusion was the fed was too conservative in dealing with it. I believe there was a quote from the fed chair of the time that they weren't going to step in until a "real" crisis happened.

MisterE Conservistan
10/15/13 7:20 pm

They were manipulating money supply BEFORE the crash.