That, historically, free market policies have preceded every economic downturn? And that, historically, Keynesian economics have always promoted economic growth and stability? "Insanity: doing the same thing over and over again and expecting different results."Albert Einsiten (attributed) US (German-born) physicist (1879 - 195)
Dear Troll, Please go away. PS: Neither of those had a "free-market", but good try. You know what they both did have? Your socialist marxist and Keynesians best friend - a Central Bank, aka the Federal Reserve, and all of their criminal monetary and fiscal policies that go along with it. Including but not limited to: fractional reserve banking, inflating the money supply, manipulating interest rates, and later on a fully fiat currency. Better luck next time......... Respectfully, Lime Cat Give me control of a nation's money and I care not who makes her laws. - Mayer Amschel Rothschild We have been warned of Central Banks throughout our entire history as a country, for example: All tyranny needs to gain a foothold is for people of good conscience to remain silent. -Thomas Jefferson I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs. -Thomas Jefferson History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and it's issuance.- James Madison. The money powers prey upon the nation in times of peace and conspire against it in times of adversity. It is more despotic than a monarchy, more insolent than autocracy, and more selfish than beaurocracy. It denounces as public enemies all who question its methods or throw light upon its crimes. I have two great enemies, the Southern Army in front of me and the bankers in the rear. Of the two, the one at my rear is my greatest foe. - Abe Lincoln I am one of those who do not believe that a national debt is a national blessing, but rather a curse to a republic; inasmuch as it is calculated to raise around the administration a moneyed aristocracy dangerous to the liberties of the country. - Andrew Jackson The bold effort the present (central) bank had made to control the government ... are but premonitions of the fate that await the American people should they be deluded into a perpetuation of this institution or the establishment of another like it. - Andrew Jackson Gentlemen, I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I intend to rout you out, and by the grace of the Eternal God, will rout you out. - Andrew Jackson It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. - Henry Ford This [Federal Reserve Act] establishes the most gigantic trust on earth. When the President [Wilson] signs this bill, the invisible government of the monetary power will be legalized....the worst legislative crime of the ages is perpetrated by this banking and currency bill. - Charles A. Lindbergh, Sr. , 1913 From now on, depressions will be scientifically created. - Charles A. Lindbergh, Sr. Lindbergh charged that the Federal Reserve Board members were involved "...in a conspiracy to violate the Constitution and laws of the United States..." To cause high prices, all the Federal Reserve Board will do will be to lower the rediscount rate..., producing an expansion of credit and a rising stock market; then when ... business men are adjusted to these conditions, it can check ... prosperity in mid career by arbitrarily raising the rate of interest. It can cause the pendulum of a rising and falling market to swing gently back and forth by slight changes in the discount rate, or cause violent fluctuations by a greater rate variation and in either case it will possess inside information as to financial conditions and advance knowledge of the coming change, either up or down. This is the strangest, most dangerous advantage ever placed in the hands of a special privilege class by any Government that ever existed. The system is private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people's money. They know in advance when to create panics to their advantage, They also know when to stop panic. Inflation and deflation work equally well for them when they control finance. - Charles A. Lindbergh, Sr. The financial system [...] has been turned over to the Federal Reserve Board. That board administers the finance system by authority of [...] a purely profiteering group. The system is private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people's money. - Charles A. Lindbergh, Sr. Mr. Chairman, we have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal reserve banks. The Federal Reserve Board, a Government board, has cheated the Government of the United States out of enough money to pay the national debt. The depredations and the iniquities of the Federal Reserve Board and the Federal reserve banks acting together have cost this country enough money to pay the national debt several times over. This evil institution has impoverished and ruined the people of the United States; has bankrupted itself, and has practically bankrupted our Government. It has done this through defects of the law under which it operates, through the maladministration of that law by the Federal Reserve Board and through the corrupt practices of the moneyed vultures who control it. - Congressman Louis T. McFadden in 1932 Most Americans have no real understanding of the operation of the international money lenders. The accounts of the Federal Reserve System have never been audited. It operates outside the control of Congress and manipulates the credit of the United States. - Sen. Barry Goldwater (Rep. AR)
Really? The Federal reserve preceded the Great Depression? You're the one who posts like a troll with your stupid quotes, mindless drivel, and complete misconception of the facts. Trolls aren't allowed in my thread - get out!
Limecat, you are a great man indeed. I like how he sheds your evidence like water and he merely asks if he can ban someone from his thread. LOL.
Our current system doesn't promote stability. The current system has debt built in to it. When a bank borrows from the Fed, they have to pay back with interest, making them essentially pay with money that isn't backed up by any real value or currency. Banks have to continue to borrow and pay with basically non-existent money. And it's a cycle that will continue until the system is fixed/abolished.
maybe OP doesn't know what the word preceded means.. i will give him the benefit of the doubt... it's a pretty big word.
By definition, this country has never had a free market. It has always been an unhealthy mix of fascist central planning, corporate welfare feeders, and a highly colluded, cartellized, mercantilist system. Before you critique something, you must define your terms. I don't expect a troll to do that, however.
i looooovvvveee how those who protest the most against the "free market" are under the delusion that we have ever had one. the free market is not some failed policy of the past...it is a never tried policy of the future. i can't get why progressives can't figure that out??? the free market is about as revolutionary and progressive a policy that you can have and really..... asking if the federal reserve really preceded the great depression (like MJU was the idiot)??? i think you just kai-boshed any shred of credibility you had....well that may not be entirely accurate, because i never gave you any credibility to begin with... and just cause i like to kick a douche when they are down. http://en.wikipedia.org/wiki/Federal_Reserve_Act