Wednesday, September 24, 2008

Government solution

The government must do something. That is the message we hear from the Socialists. They say if the government doesn't come to our rescue, we will end up with a second Great Depression. Supposedly, Hoover did nothing after the stock market crash. If only he had come to the rescue, the Great Depression could have been prevented. However, that is not true. If you think that the government should come to the rescue, see this. Hoover's actions did not allow the market to clear, causing a prolonged depression. Government action, not inaction, lead to the Great Depression.

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