The panic of 1873 was an indication that our economy and our nation's mental health are always in flux and that, just as in our personal lives, there are periods of ecstasy, fear, bankruptcy, war, and death.
Knowing our volatile and reactive nature, it is frightening to think what will happen to the USA if the next attempt to murder President Trump is successful
Our markets today are, perhaps, even more volatile and prone to major adjustments based on world events. The assassination of Trump would likely have devastating effects on the markets.
I too have studied the Austrian economic model and have persistent doubts about government regulatory response which is why I added, "The Federal Reserve, established in 1913, provided a mechanism for a coordinated response, although many economists argue its actions were insufficient or even counterproductive."
The truth is, there is much evidence that government response substantially extended the Depression. That naturally leads in to the idea that the government was looking for an economic stimulus...which they readily found in WWII...
I try to stick to verifiable facts as much as possible, of course, so I probably won't get in to the"conspiracy" theory that says our entry into the war was orchestrated...
The panic of 1873 was an indication that our economy and our nation's mental health are always in flux and that, just as in our personal lives, there are periods of ecstasy, fear, bankruptcy, war, and death.
Knowing our volatile and reactive nature, it is frightening to think what will happen to the USA if the next attempt to murder President Trump is successful
Our markets today are, perhaps, even more volatile and prone to major adjustments based on world events. The assassination of Trump would likely have devastating effects on the markets.
Thank you for this great essay and it’s meaning for us today
As a novice of the Austrian economic school, I'm very skeptical that the regulatory response options during the Great Depression were any better...
but otherwise, another fine and thought-provoking devotional!
I too have studied the Austrian economic model and have persistent doubts about government regulatory response which is why I added, "The Federal Reserve, established in 1913, provided a mechanism for a coordinated response, although many economists argue its actions were insufficient or even counterproductive."
The truth is, there is much evidence that government response substantially extended the Depression. That naturally leads in to the idea that the government was looking for an economic stimulus...which they readily found in WWII...
I try to stick to verifiable facts as much as possible, of course, so I probably won't get in to the"conspiracy" theory that says our entry into the war was orchestrated...