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True to form, since the Fed was created, each new crisis has been bigger and sooner than the last.
by hammock 5y ago
True to form, since the Fed was created, each new crisis has been bigger and sooner than the last.
- deleted 5y ago[deleted]
- zozbot234 5y agoWrong, actually. The 1980s and 1990s saw a huge improvement in macro-level stability. The late-2000s crisis was an outlier.
- colinmhayes 5y agoThis just isn't true. THe country was pretty much perpetually in economic crisis during the late 19th century, largely because of the lack of ability to perform monetary policy.
- gumby 5y agoApart from the comments talking about crises under the Fed, look at the 18th century where gold strikes (or the lack thereof) caused several more serious crises, with both inflation and deflation driving crises, due to the money supply being completely uncorrelated with economic activity.
- Spooky23 5y agoYes, it’s not like the good old days when you’d just hope JP Morgan was still in town to stave off depression.