The great depression has NOTHING to do with the Greek crisis. The crash of 1929 was caused by the financial sector, not by a crushing national debt. In 1929 the

The great depression has NOTHING to do with the Greek crisis. The crash of 1929 was caused by the financial sector, not by a crushing national debt. In 1929 the US federal debt was less than 20% of GDP [1]. It's not because a looser monetary policy could have helped during the great depression that it will help in every situation. [1] http://en.wikipedia.org/wiki/United_States_public_debt http://en.wikipedia.org/wiki/United_States_public_debt