[Moonman62]

Is that what happened in '29?

Without a doubt. Also in 1999, and the current bubbles in the real estate market. The inflation in the 1970's would also be a very good example.

[lugsoul]

Actually, my question about '29 was in response to this statement:

"The only significant threat the US economy has ever faced is a federal government that grows too much, regulates too much, and taxes too much."

I don't really think one can look at the condition surrounding severe economic crises in our history and come to this conclusion.