Loading ...They already did it again. They raised rates after 1971 to a 21% prime around 1980, and caused a 20 year deflation or depression in commodities, and an invisible stealth depression in the US economy 1975 to 2008. Depression covered over with gov’t spending and occupation creation to fill “regulation” and “environment” and “global warming” jobs.
re part,
“In his speech above, future Federal Reserve Chairman Ben Bernanke acknowledged that, by raising interest rates, the Fed triggered the stock market crash of 1929, which heralded in the Great Depression.”
comment: WRONG WRONG WRONG. The increase in credit and money supply after 1913, to finance WW I, caused over expansion, and over capacity etc, leading to the higher rates intended to quench that situation.
Higher rates and protectionism was the RESULT, not the cause,