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David Rosenberg writes in today’s Breakfast With Dave that Obama was channeling Herbert Hoover during the State of the Union! A long-standing colleague and reader sent this off to me yesterday and it blew me away. Read on: Obama’s State of the Union: “Two years after the worst recession most of us have ever known, the […]
Regular contributor Sy Harding takes a look at the measures the Fed and Federal Government have taken to avoid the second coming of the Great Depression – they’ve thrown everything at it, including the kitchen sink. And to give credit where credit is due, Bernanke & Co have (thus far, at least) been successful in […]
How does our current recession (or more likely, soft depression) compare with the Great Depression? For an excellent account of the United States’ last go-round with economic collapse, I’d highly recommend The Great Depression: A Diary by Benjamin Roth. Roth is a Youngstown, Ohio based attorney who details a compelling play-by-play of the Depression, spanning […]
Here’s an insightful guest piece from James Quinn, who takes a look at the first Great Depression to separate the facts from fiction (and there’s no shortage of historical fiction about the Depression that is basically accepted without question as fact today). (And if you like this piece, you may also enjoy my lambasting of […]
This epic stock market rally has done exactly what it was supposed to do – it’s retraced about half of the losses from the previous crash. It’s got folks feeling comfortable again – while maybe not outright enthusiastic about things, they now believe the carpet is not going to be pulled out from under them. […]
Common wisdom about the Great Depression seems to be that Herbert Hoover was a free market, laissez-faire kind of guy, who mistakenly decided to “do nothing” and let the economy work itself out…merely watching as it spiraled down the drain. The rap on Hoover couldn’t be more wrong, says legendary libertarian economist Murray Rothbard. Hoover […]
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