Im probably the least knowledgable when it comes to economics, but I cant help but feel reminded of history and highschool economics class when it comes to all this current fear about our economy.
Can this fear lead to a depression?
Im probably the least knowledgable when it comes to economics, but I cant help but feel reminded of history and highschool economics class when it comes to all this current fear about our economy.
Can this fear lead to a depression?
Original content is for Non-commercial use under Creative Commons. Except where otherwise noted.
Some Rights Reserved. Attribution-Noncommercial-Share Alike 3.0 United States License.
Discuss
Charles Kennedy on December 12, 2008, 11:41 PM
Of course it can. We have had several depressions. Jackson created one by destroying the Federal Bank and then mismanaging the funds placed into the various private and State Banks.
As long as we have people who can “create” funds by lending more than they have on hand we will have booms and busts. We benefit greatly by the use of banks, credit and other financial tools, but there is great risk also.
Add a Comment
You must be logged in to comment. Log in or Register