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herbert hoover

Unhappy Labor (Day)

By |2018-09-04T13:04:16-04:00September 4th, 2018|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

In November 1929, faced with the growing prospects for serious economic reverse, President Herbert Hoover gathered the heads of major American industrial businesses to confer at the White House. Primary on his agenda was wages. For workers, depression was simple. Work was hard to find but more than that what labor might be exchanged would be paid for at a [...]

Again?

By |2017-03-20T17:39:22-04:00March 20th, 2017|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

It is more than interesting that Herbert Hoover has become the modern ideal of the liquidationist. In these very trying times, one is either that or a Keynesian, Hoover’s supposed opposite, an interventionist who believes there is no good in any recession or deflation at any time. To “prove” the superior foundations of the latter, the ideological associates of that [...]

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