LOL at the guy saying France did pretty good in the Great Depression.
DSFatticus wrote:
It's almost like bank runs are not things that happen because LOLWHYNOT, and are instead a painful yet preventable consequence of some other kind of economic shock. Sort of like how bleeding to death is not a thing that happens because LOLWHYNOT, and instead a painful yet preventable consequence of some other kind of injury. Clearly if you have been in a car accident and are gushing blood from a chest wound, at no point should the doctor recommend a blood transfusion. How the hell is a blood tranfusion supposed to undo a car accident? That's absurd. Doctors are so stupid.
Yeah that's all quite interesting but remember, you said:
we tried letting the banks fail. That fantastic idea would later be called the Great Depression.
Of course we are interested in the cause of the bank failures as a separate issue from the action or inaction that aggravated or improved the bank failure situation. "Why did the patient die?" is an interesting question, and "Car accident," "gushing chest wound," and "did not get transfusion" are all interesting parts of that answer.
Certainly something caused the chest wound, and something caused the banks to fail. ("falling valuations of stocks" -- hmm, what caused that? What caused the valuations to get so high in the first place, such that they would fall so dramatically?).
Anyway, it's interesting that Canada had zero bank failures during the Great Depression, and yet it was hit harder as hard or harder than the US in terms of falling production and unemployment and the depression lasted just as long....
And it's interesting how in the US when they stopped letting banks fail, the depression continued for many more years...
It's also interesting that there were lots of bank failures in earlier depressions and panics, but none of those busts ever lasted as long at the Great Depression...
Basically, your cause-and-effect theories are pretty much completely retarded. You are like one of those Fake News Sites that Zuck is going to ban from Facebook. You should probably be banned from the internet.
Idiot of the day:
DSMatticus
