Is this true America? I always thought it was scientists and big brain that made America great.
>>70128682
america was great until woodrow wilson and the federal reserve caused the great depression
>>70129061
>federal reserve caused the great depression
Literally how?
>>70130062
they used their cartel powers to lower interest rates, causing people to take loans too easily, etc.
>>70130426
what
>>70130062
Turns out that mucking with interest rates, like mucking with any other part of the economy, has unintended consequences.
Or to go into more detail but still very briefly: Artificially low interest rates (achieved through printing money) prop up businesses that would not survive on the free market while at the same time causing people to save less (lower interest rates) and spend more. Because people save less, the central bank must print more and more money to replace the lack of savings (the free market interest rate is a reflection of society's savings). Eventually, the central bank must ease off or risk hyperinflation, causing interest rates to rise and the businesses who relied on those rates all go bankrupt. In a complex economy, it takes time for capital and labor to rearrange themselves into something sustainable -- hence the prolonged unemployment.
>>70130878
straight from the horse's mouth
>>70130878
I don't think artificially low interest rate is a thing.
>>70128682
No, it's not true. Rednecks are scum just like thugs.
>>70128682
They're the reason the US landed on the moon.
>>70131452
>thugs
go back to foxnews
>>70131638
Fox news is propaganda. I have nothing against niggers, just niggers who act like niggers.
A strong middle class is what made america great. Rednecks don't necessarily make america great but they are pretty bro tier.
>>70131331
Yes it is, just as if the government produced, say, corn, causing corn prices to decrease. The interest rate is a reflection of the supply of loanable funds -- supply goes up, price goes down. If the government prints a few trillion and hands it to the banks, the interest rate will decrease without any actual human saving.
>>70131720
Acting like a nigger is what defines a person as a nigger though
>>70131843
How is that artificial?
>>70131452
Christian rednecks with guns are the only hope left for this country. After seven years of university and grad school I have zero faith in the limp-wristed cuckolds of the "consultant class" to do anything but fulfill their comfortable role as slaves to the established order. Rednecks are usually dumb, they spend too much time playing with guns and drinking cheap beer, but if it comes to a race war you'll be very thankful that we have them.
>>70131873
Nigger
1. derogatory term for a black
2. derogatory term for a black who participates in traditional African-American culture
>>70131947
Whether or not you call it artificial is semantics; it is not a result that would have occurred on the free market (or, at least, to the same degree). You asked how the Fed caused the great depression and I answered you.
>>70132147
Idk about that.
https://en.wikipedia.org/wiki/Great_Depression
Doesn't seem like it was caused by the Federal Reserve as you stated.
>>70132355
yeah wikipedia is totally objective
kek
>>70132441
It is. Everything they're referring to can be found in the scientific articles at the bottom of the page. Check them out.
>>70132355
It's right there, are you blind?
>>70132622
Nope, they say that the FED arguably prolonged it.
>>70132680
> In their view and like the monetarists, the Federal Reserve, which was created in 1913, shoulders much of the blame; but in opposition to the monetarists, they argue that the key cause of the Depression was the expansion of the money supply in the 1920s that led to an unsustainable credit-driven boom.
>>70132609
>It is
stopped reading there. you do realize, that anyone can write in a wp article, right?
>>70128682
The fact that, until the 20th century, the average American was self-reliant, virtuous, and had a high IQ.
>>70132772
>Monetarists follow the explanation given by Milton Friedman and Anna J. Schwartz. They argue that the Great Depression was caused by the banking crisis that caused one-third of all banks to vanish, a reduction of bank shareholder wealth and more importantly monetary contraction by 35%. This caused a price drop by 33% (Deflation).[21] By not lowering interest rates, by not increasing the monetary base and by not injecting liquidity into the banking system to prevent it from crumbling the Federal Reserve passively watched the transforming of a normal recession into the Great Depression. Friedman argued that the downward turn in the economy, starting with the stock market crash, would have been just another recession if the Federal Reserve had taken aggressive action.
Don't you think it is unfair to say that they caused it?
>>70132797
>pic
>>70132441
What do they teach you in mongoloid-land?
