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View Diary: Krugman, NYT Editors Go Ballistic Over Chris Christie’s Termination Of New Hudson Tunnel Project (159 comments)

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  •  You are confusing cause and effect (1+ / 0-)
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    soros

    The Great Depression happened because of structural economic problems that started in the 20s. Overleveraged people and banks, massive debt, sound familiar?

    (-5.50,-6.67): Left Libertarian
    Leadership doesn't mean taking a straw poll and then just throwing up your hands. -Jyrinx

    by Sparhawk on Fri Apr 13, 2012 at 10:07:11 AM PDT

    [ Parent ]

    •  that's true (1+ / 0-)
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      itsbenj

      but without deflation cycles, it would have solved itself.  

      Bank irresponsibility was the torpedo that caused the depression, but deflation was the improperly stored gunpowder that made a quick recovery impossible.

      It was certainly not merely an "effect."  

      •  Deflation... (1+ / 0-)
        Recommended by:
        soros

        ...is the cure, not the disease.

        Sometimes medicine tastes bad.

        (-5.50,-6.67): Left Libertarian
        Leadership doesn't mean taking a straw poll and then just throwing up your hands. -Jyrinx

        by Sparhawk on Fri Apr 13, 2012 at 12:03:03 PM PDT

        [ Parent ]

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