The Herbert Hoover Presidential Library and Museum

By bgamall4   Follow   Sat, 26 Jan 2013, 4:19am PST   134 views   0 comments   Watch (1)   Share   Quote   Permalink   Like   Dislike

This is, of course, an indictment of failure to stop the bust in a boom and bust cycle. Look at it this way, a boom and bust is actually a way for wealthy folks to make money on the way up and on the way down. That is what they want, boom and bust. Andrew Mellon, in wanting boom and bust, wanted speculation, austerity, and supply side percolation economics. He relished panic as a way for folks to make money at the top and for the riff raff to suffer and be moral.

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