Importantly, in the 1930s, in the Great Depression, the Federal Reserve, despite its mandate, was quite passive and, as a result, financial crisis became very severe, lasted essentially from 1929 to 1933.
You can’t please everybody all the time, but I think for the most part we tend to maintain a healthy level of self-reference to kind of make sure we continue to push things forward.
Henceforward, I shout to the heavens, I shall deliver no more lectures on behalf of good causes: I am the good cause that denies the need for such lectures. Avaunt, importuning world! Back to my cell.
