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Selloff descends into a rout in South Korea with biggest one-day drop since
2008
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The KOSPI has shed 20% in two trading sessions as excess leverage triggers
margins calls and forced liquidation of positions by retail investors
1 hour ago
The effects of the Keynesian-style deficit spending that the administration had been engaged in under the terms of the early New Deal, the President was advised to cut the budget, reduce deficit spending and tighten the money supply as a means to stave off inflation. Heeding their word (and no economist himself), FDR did just that.
ReplyDeleteThe results were an unmitigated disaster.