In "Out Of Work" by Gallaway & Vetter 1997 Updated Edition, increases Govt spending by Dem Pres FDR caused/extended the Great Depression for >20 yrs. Rep Pres Coolidge in early 1920's, faced with declining Free Mkt biz activity, cut Govt spend about 50% & created the Roaring 20s
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It began in 1913... the year the 3rd National Bank was adopted after the first two failed miserably and they could only convince the country to do it again through underhanded politics changing the name to “Federal Reserve” so as not to let the public know it was a terrible idea!
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It wasn't all Hoover's doing. He proposed bank reforms that didn't pass, until
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We probably need more “blunderbus” tactics.
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