“We’re from the government and we’re here to help”
The NY Fed threw 6 times it’s allowable level of funds at the banks in 1930. It didnt help. Again, our problem is not liquidity, it’s solvency. $12/hour jobs will do nothing more than keep us from riots. And that’s for those that are able to do this kind of work. All these tactics and govt intervention is to stave-off collapse and choas. I would not characterize this as a recovery. Life-support would be more accurate. Much like FDR’s WPA projects. War in the Europe brought us out of this contraction, not works projects. First by paying us to supply them, then by us joining the conflict.
Check out the technical charts and series of events. The paralell is very much in 1929, not 1933, as you suggest. I really dont see how you can come to such a conclusion?! If anything, one could contend that we’re in 1930, but not 1933! The Dow had fallen about 80% by then and completed a 3 year contraction. which is a historical norm.
