WhatAtThisPointDifferenceDoesItMake? Wrote:
Dec 03, 2012 1:24 PM
QUESTION: I wasn't around during World War II. but have heard and read many an expert saying that it took the war to end the Great Depression; that FDR's various alphabet programs did little or nothing to curtail the high unemployment and lack of economic activity. Yet, before and surely during the war, the U.S. government must have, literally, printed gazillions of dollars in order to fund the social programs and the war production. Can someone please explain to me, in simple to understand terms, why massive inflation did not follow all that printing press activity as we are now told is bound to follow the "quantitative easing" and other dumb tactics we are now experiencing? The Keynesian spending must have gone on for years both before