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Warren G Harding and the 1920 Depression – Learning the Right Lesson
The common myth taught in government schools is that laissez-faire capitalism caused the Great Depression, that massive government programs by President Roosevelt ended it, and President Hoover did little to help, making things worse. There was another depression in the early Twentieth Century, forgotten perhaps because a forgotten, wiser president successfully ended it by taking a different path. Unfortunately, the politicians and media of today are looking at the wrong depression, the wrong president, and learning the wrong lesson.
With Hundreds of US Banks Still in Jeopardy, Credit Crunch May Last For DecadesAlthough the American economy and the global economy both appear to be stabilizing, the U.S. banking sector nevertheless continues to struggle. By late 2009, more than 100 banks had collapsed in the U.S. during the year.
