Between 1926 and 1929, the total circulating medium increased slightly—from about 26 to about 27 billions, 23 billions being check-book money and
4 billions, pocket-book money.

On the other hand, between 1929 and 1933, check-book money shrank to 15 billions which, with 5 billions of actual money in pockets and tills, made, in all, 20 billions of circulating medium, instead of 27, as in 1929. The increase from 26 to 27 billions was inflation; and the decrease from 27 to 20 billions was deflation.

The boom and depression since 1926 are largely epitomized by these three figures (in billions of dollars)—26, 27, 20—for the three years 1926, 1929, 1933.

My father lived through the depression. He told me that commercial activity seemed to have stopped dead. People were terrified. His parents lost their little grocery store and went on the dole. He, like McNamara, credits Roosevelt with preserving the social contract. It wasn’t anything particular that he did, it was just that he trying lots of things, was active and seemed confident. At least somebody was doing something.

It is substantially accurate to say that commerce stopped dead. It is substantially inaccurate to say that Roosevelt was part of the solution.

To understand the Depression, one must understand that the business cycle is driven by bank credit expansion and contraction. Please read the foreword and introduction to Irving Fisher’s 100% Money (1935).

https://cdn.mises.org/100%20Percent%20Money_Fisher.pdf

(Read it, gentle reader. I insist.)

In particular:

Between 1926 and 1929, the total circulating medium increased slightly-from about 26 to about 27 billions, 23 billions being check-book money and
4 billions, pocket-book money.

On the other hand, between 1929 and 1933, check-book money shrank to 15 billions which, with s billions of actual money in pockets and tills, made, in all, 20 billions of circulating medium, instead of 27, as in 1929. The increase from 26 to 27 billions was inflation; and the decrease from 27 to 20 billions was deflation.

The boom and depression since 1926 are largely epitomized by these three figures (in billions of dollars) —26, 27, 20-for the three years 1926,
1929, 1933.

The Depression was in large part a land-grab by the banking order, which desired to consolidate the supermajority of agricultural production into a few corporate hands, an objective since achieved.

It’s like we took our best and brightest, and completely failed to inculcate them with any semblance of history or culture, just a vague childish…

Not “failed to inculcate them with’” but “succeeded to inoculate against.”

If attempts to dig into something harder than the usual end product of mental Augean stables at Hollywood result in «JFK, aliens, lol», wooden_laughing_track.wav and moving on? It’s but another implementation of good old crimestop.

Complemented with what Moldbug calls addiction to the smell of power. Bad cases are easy to notice, since a patient misuses “we” often, while obviously not being a monarch, editor or host of a tapeworm. Whether it’s a lackey “we”, a wannabe “we” or some mix does not matter much IMHO.

Hmm. First grade. Circa 1922. So this ethnic/racial consciousness started… with the Big Bang?

It’s like we took our best and brightest, and completely failed to inculcate them with any semblance of history or culture, just a vague childish understanding of geopolitics, a vast arsenal of wealth, and the belief that the US was somehow impervious to the trappings of empire. Like Kissinger.

Thank you, really. I will keep on reading you