“what made the Great Depression so bad was really the chain of bank failures in 1931-32”

two more bank closures friday after the close

that puts us to 25 so far for 2008

add in a handful of credit unions going into receivership

do you define almost 30 as a chain of bank failures or do we have to wait a few more weeks?

~

Keynesian economics were very much in place during the 20’s and 30′ – not sure what you are saying with your comment – you might argue that the electronic financial system of today allows us to pump Keynesian economics more effectively than was possible during the 20’s/30’s but Keynesian economics was alive and well during that time frame

extra credit question: why do Austrian economist never earn the Nobel prize?