See 1920 and 1929 Stockmakret collapses
Reader comment on: The New Yorker's Assumptions
Submitted by Dau Tieng 59 (United States), May 12, 2012 22:06
There was a major stockmarket crash in 1920, but the then President didn't know that it was his job to save the world from run away capitalism. So he cut taxes and government spending, the out come was the 1920's aka the "Roaring Twenties". In 1929 the was another cyclical collapse of the stockmarket, the then President, a former engineer, decided that he would engineer the recovery. The following President followed the same program but put much more money into them and came up with similar schemes. What we got from that was the 1930's aka the "Great Depression". Sounds similar to the actions of today.
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