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Old 02-06-2013, 02:17 AM   #35
KevinNYC
Toronto Mayor Rob Ford
 
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Default Re: Obama Administration's dangerous memo on drones released

Quote:
Originally Posted by bdreason
Honestly, I thought we would already be there. I was surprised the Government was able to bail out the private sector in the fashion that it did, and even more surprised how cooperative the Federal Reserve seemed to be. However, eventually the Federal Reserve will pull the plug, just like they did prior to the Great Depression, and the economy will collapse. If I could tell you exactly when that will happen, I would probably be a World renown Economist, not a Real Estate Agent.

I see no evidence for this part. The advantage we have today that Fed of the Depression didn't is the development of economic thought and all those people who have studied the Depression since then. One of whom is Ben Bernanke.
Modern macroeconomics didn't even exist until Keynes invented it in 1936. I see no reason why the Fed would act like it did in the 1930's.
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