Never said anything of the sorts.
The depression was caused nearly exclusively by cheap money..the result of the federal reserve.
Credit.
How much non secure debt is there within this country now? LOTS.
And eventually it will catch up to us. Hopefully not during this administrations term.
Trump is trying to head that off before it blows up. The one thing he needs to do is get control over the monetary policy.
History repeats my friend. And hopefully we dont repeat that depression.
“The depression was caused nearly exclusively by cheap money..the result of the federal reserve.
Credit.”
The opposite is true. The depression was caused by the federal reserve raising interest rates, and tightening the money supply in 1928. They triggered the stock market collapse, and didn’t loosen the policy which held back growth. Money supply growth in the 20s was modest, around 5% a year - not enough to cause a depression.