Depression is Great

Let's stop this nonsense about the free market causing the economic crisis.

I challenge Democrats and Republicans alike to read this entire post, consider the facts I present, and in light of them explain to me exactly how the free market caused the oncoming depression or any other depression or recession in U.S. history.

Consider this:

• In 1907 the United States economy was based on a free market
  
  
• In 1907 the stock market crashed. On November 15, 1907, the Dow Jones Industrial Average stood at 53, down from almost 100 in January.
  
  
• The resulting Panic of 1907 lasted no longer than June 1908
  
  
• In 1914 the Federal Reserve system was established and the United States economy was no longer based on a free market
  
  
• In 1929 the stock market crashed. On October 29, 1929, the Dow Jones Industrial Average stood at 230, down from almost 400 in September.
  
  
• The resulting Great Depression lasted more than ten years and didn't truly end until the United States began to mobilize for World War II.

So, what really is the difference between a free market economy and an economy run by the Federal Reserve? The difference is that under a free market, our economy can survive stock market crashes and the popping of financial bubbles, whereas under the Federal Reserve the economy suffers deep recession given the same crashes.

The logic I have laid out here is simple and shallow, but it covers the basics of an economic argument that is quite complex, so it should not be dismissed on the grounds that it over-simplifies the events of the 1920's and 30's.

Do not blame problems in the economy on the free market. We have not been living in one since 1914.

Although the economic minutia are quite interesting to some people (like me), it does serve a good to present this juxtaposition to the average American and see what they think of it. So, what do you think of it? Try thinking about the economy and about history. Don't listen to what anyone tells you, including me. Read the facts and think about them.

Of course, that is only if you are ready for real Change.