[all the best]

The forgotten depression of 1920-21. By the time the feds got around to trying to fix it, it had ended. Because they did nothing.

[KC_Lion]

Ping!

[Tupelo]

Harding may well be the most vilified president of the 20th Century, but in the past 10 -12 years I have seen more than a few stories showing him in a better light. Especially in his economic policies. Of course being followed by Calvin Coolidge(my personal favorite) did not hurt.

Hoover and Roosevelt extended the “Great Depression” by at least 5-7 years by ignoring Harding and taking the socialist route. Now Obama has doubled down on their failures and the entire country is following along like sheep(le) to slaughter.

[11th Commandment]

One of the reasons the fed did not try to fix it is because it did not have all the data gathering we have today to know what to do. However, this was a blessing because the data leads us in really bad directions.

For example, during the "Great Depression" the US had the ability to measure national income (predecessor to GDP). Using massive federal spending, the US was able to increase national income. However, when the government hit its metric in 1937/38, it cut spending. The impact- national income declined. This lead many to ask, where did all the money go to.

[TBP]

And government action prolonged and deepened the Depression of 1929.