Bill, I agree with you that government actions going forward (and failures to take the proper actions) can prolong the economic depression we face. But where we differ is that I think that past government actions, not only here but also in many foreign countries, already guarantee a severe and prolonged depression. China’s stock market is already down 50%. The U.S. bear market is bad and getting worse. The Eurozone banks have had serious losses of capital, and major countries have had housing bubbles. Many countries have greatly overinflated. The U.S. banking system is a shambles, with bank stock indexes … Continue reading Great Depression and government action