FDR's programs did a lot to help turnaround the worst of the Great Depression and Govt jobs around WW2 finished off the great depression. So it was the Fed Govt that did this.
Obama and the Fed Govt lassoed the 2007-8 major recession and kept the economy and finance from going "over the cliff" as it was said. It is arguable that some other types of fed fixes might have worked faster and been more fair, like freezing mortgage defaults and giving money directly to people with those mortgages, but it was fixed in a few years.
It took the CArter and REagan admins years to slowly bring down inflation and that whole affair could have ended in a crash if left to the money grubbers and business people. The Fed Reserve does the job of slowly bringing inflation down without causing recessions and mass layoffs and closings. And the same thing happened at the end of Trump and through Bidens Admin as in 2020 inflation started going up under Trump but Biden and the Fed Reserve slowly brought down inflation from 9% to 3% which is not much more than a normal 2% growth without causing a recession/depression.
Of course most people dont understand that and have no idea that tRump is doing the opposite right now. If things crash and govt is crippled what might happen this time?
Obama and the Fed Govt lassoed the 2007-8 major recession and kept the economy and finance from going "over the cliff" as it was said. It is arguable that some other types of fed fixes might have worked faster and been more fair, like freezing mortgage defaults and giving money directly to people with those mortgages, but it was fixed in a few years.
It took the CArter and REagan admins years to slowly bring down inflation and that whole affair could have ended in a crash if left to the money grubbers and business people. The Fed Reserve does the job of slowly bringing inflation down without causing recessions and mass layoffs and closings. And the same thing happened at the end of Trump and through Bidens Admin as in 2020 inflation started going up under Trump but Biden and the Fed Reserve slowly brought down inflation from 9% to 3% which is not much more than a normal 2% growth without causing a recession/depression.
Of course most people dont understand that and have no idea that tRump is doing the opposite right now. If things crash and govt is crippled what might happen this time?
