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crash2006

If You Want To Read About 1929-1936 Read This

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Now think of weimar and put america in that position, weimar republic has to much debt owed and the states placed huge tariffs, weimar couldnt pay it back as tariffs started to hurt welmer.

Edited by crash2006

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I thought the deflationistas were in charge today, what with commodities falling n'all, I am surprised to see Weimar mentioned. Still the deflationista bears have had bad days on the stock market as well. Pesky thing keeps going up although they all talk about the Great Unwinding and deleveraging. A bit like HPC, it takes a while but one day the markets will get it.

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I have an order for 100 2008 silver eagles with the silverxchange in the US

I have been reading this thread as I do - seldom do I post

Anyway I have been waiting for weeks so I emailed him after reading here that silver coin supply in the US is limited.

Email stated i would accept any AU or AG as i had heard about problems of supply in the US.

He phoned 10 mins ago = minutes after my email - sounded worried - very worried - his supplier is just not delivering - I have accepted 100 maples instead.

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Thanks for this. I'm always on the lookout for more info on this period.

This particular document is not that reliable from what I can see. It is very light on hard economic data and the non-anecdotal data provided is used to prove an ideology rather than to inform (for example, pointing that credit as a percentage of booming 'share prices' didn't grow seems a bit disingenuous IMO). It fails to address key issues such as the simultaneous impact of an explosion of consumer credit at the time (instalment purchases), mortgages (IIRC) and corporate debt (apparently used to a great extent to buy shares in the stock market). Credit expansion was so important at the time that it required vasts amounts of capital from all over the world.

It's more a political pamphlet than an economic history document, its aim seems to be to discredit the concept of government intervention. You'll find the authors, Mackinac, are lobbyists whose job it is to promote free market policies.

Although a number of academics write that mistakes were made at the time after the depression started (and few blame them considering what they were facing), I've yet to find one who would have blamed the US government for triggering it. As far as the Fed is concerned most criticism I've read is that the Fed should have raised rates much earlier (a bit like now).

Anyway, since I think you are more after some hindsight rather than a political argument I thought I'd point out the lack of objectivity of this document.

I'm very sorry I can't be more positive but please keep looking, proper records and analyses are hard to come by. All the information I have is in harcopy and I've got too many to find and then scan the relevant pages but I've come across some interesting stuff on the net recently, I'll try to find it over the w/e and post it on this topic.

Edited by williamdb

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Thanks for this. I'm always on the lookout for more info on this period.

I'm very sorry I can't be more positive but please keep looking, proper records and analyses are hard to come by. Most of what I have is in harcopy but I've come across some interesting stuff on the net recently, I'll try to find it voer the w/e and post it on this topic.

Yep finding documents about the depression this far gets harder, however iam still looking. As i said, the oldest book so far might provide a better view, which i hope too acquire late next week.

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Whats a big worry the fed taking the opposite approach, lowering rates however the banks are making it harder for businesses to take out large loans, this was one of the major problems I think, which push the economy into depression. Another point was the deflation in wages which we are seeing now, higher living prices etc... which is another cause. Iam worried that the fed brings down the rates too fast and too low.

Edited by crash2006

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I hooted with laughter when I read that this document claimed the Mackinac Centre was 'non partisan' .

It is the usual supply side garbage which got us into this mess in the first place.

If people want to know what got the world economy out of the Great Depression was not some free market miracle but the fact that the British government essentially liquidated the Empire it had spent centuries building in order to fight the Second World War.

Edited by up2nogood

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I hooted with laughter when I read that this document claimed the Mackinac Centre was 'non partisan' .

It is the usual supply side garbage which got us into this mess in the first place.

If people want to know what got the world economy out of the Great Depression was not some free market miracle but the fact that the British government essentially liquidated the Empire it had spent centuries building in order to fight the Second World War.

So many books said so many things who really knows whats happened. i dont believe that the stock market crash was the cause, as some texts books suggest.

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  • 295 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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