American Views on the Greater Depression

American Views on the Greater Depression:

"The United States has many needs: we need to upgrade our infrastructure, educate our children, provide medical care for the ill and injured, provide for our older citizens, etc., we have a large well-trained work force to provide for the needs of the country, we have the physical resources and the means of delivering in the real-world economy, we don not have enough small pieces of green paper with the pictures of dead men on them to make the economy work. Clearly, the real problem is a printing problem. To avoid the larger depression the government must simply print its own debt-free money and spend it directly into the economy."

"What we should be doing, and what a number of economists have proposed already, is to simply restructure all this debt right now so we can move on. It's going to be defaulted upon anyway, we might as well write it down now instead of going through a long painfull process that will take years and years like the last great depression."

"We should find a legal way, if at all possible, to claw back the profits banks and other lenders have made from this. If they walk away free and clear then where is the incentive to keep people from doing this again?"

"What sparked the recovery at the end of the "Great Depression" was people going back to work. The GD occurred because there was a reported 25%+ unemployment untill WWII when thousands of men were drafted. Any recovery that may have occurred after 1939 was delayed until 1946 when they returned from Europe & Japan. From 1929 until into 1946 there were no goods produced and no goods to buy whether you had money or not. Food,gasoline and other items were rationed. I know, I was there."