FDR/New Deal actually prolonged the Great Depression

[ecoli]

This thread started going off on a slightly off topic tangent, but in a way that merited it's own thread. Go here for the missing material: http://www.scienceforums.net/forum/showthread.php?t=37518

[iNow]

Touching briefly on the idea that monetary policy is from an academic level more effective than fiscal policy during normal times, good points on Meet the Press this morning about why monetary policy won't be enough nor very effective in these current circumstances. Link to the Netcast below:

 

http://www.msnbc.msn.com/id/21134540/vp/28604541#28604541

 

 

Also, some good questions were raised about where the money will even come from. To implement these programs, we need money. To get that money, we'll need to borrow (it's not like we have a savings accoung with almost a trillion dollars waiting to be spent). Further, despite our immediate need to borrow, China has been pulling back and don't seem as willing to lend. Good discussion points all around.

[ecoli]

Further, despite our immediate need to borrow, China has been pulling back and don't seem as willing to lend. Good discussion points all around.

Of course not... the only way we'll be able to pay back that money is by printing it. That would pretty pretty useless to China.

[npts2020]

The Chinese may be sorry they ever let "Tricky Dick" come to their country. On the other hand they will soon "own" America.