How the Republicans Engineered the Stock Market Crash of 1929 and the Financial Meltdown of 2008

Provides a resumé of Laval University economics professor Bernard C. Beaudreau's recent book, "How the Republicans Engineered the Stock Market Crash of 1929 and the Financial Meltdown of 2008" where he argues that in both cases, the market was not to blame, rather government was. He shows how the Republican Party's attempt at raising factory utilization rates in the late 1920's with tariff policy (Smoot-Hawley Tariff Act) resulted in both the rise and fall of stock prices. Similarly, shows how their attempt to strengthen weakening product markets in the 1980's and 1990's using financial deregulation led to the Financial Meltdown of 2008.

Category:

News & Politics

Tags:

• Republicans
• Financial Deregulation

[HoGraz]

Very insightful. It's good to hear a voice out there that doesn't quote Hayek. Hayek was such a non-intellectual. His main points in "The Road to Serfdom" were proven to be ridiculous.

[ajgolfer1]

people bought on credit nothing was engineered

[flanksteak1]

LOL

Thanks for validating my rationale.

Our purchasing power, eroded by outsourcing and deunionization has been made for by taking on more government debt and allowing people easier access to credit.

You can still have it, you're just going to have to pay for it for 3 times as long as your parents.

[Doenietmeermee]

thank you *****