The Great Depression

  • Benjamin Roth: The Great Depression: A Diary

    Benjamin Roth: The Great Depression: A Diary
    It's all here, times change people don't -the endless govt programs that fail to stimulate the private sector -the ups and downs of the economy, the veterans pension stimulates just as the housing credit did, until of course the money runs out -Roth is a attorney in Youngstown Ohio who kept a diary regarding the economy from 1930 until WW II breaks out, he is objective, candid, and forthright which is more than we get from Washington DC now or then highly recommended

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February 23, 2021

Comments

A M Putman

1940s was the only other time in US history that federal debt as a percentage of GDP was this high and inflation was picking up. The Fed locked T-bills at .38% and long term Treasuries at 2.5% from about 1942 to 1951. I wonder if this could be a repeat? The government debt load is not sustainable if yield curve keeps increasing.

Dennis Elam

It was not just the FED that made that happen. During WW II there were lots of rules that prohibited making 'excess profits' so there was not a big demand for money, all the manufacturing was for the war effort. I suspect we are closer to 1951, especially the way Dems are going to spend money, we have a deficit already of 4+ trillion of the 1.9 T bill passes.

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