Greeting from Fujisawa, Japan!
I greatly appreciate your wisdom, courage and professionalism that you exhibit in running your business, your Senate campaign and media appearances.
I recently saw a You Tube CNN interview when you were debating a clueless nitwit. This jerk asked you the last time the government didn’t intervene in a major recession.
You didn’t reply to this simpleton–you had moved on to another topic–however, the answer to this jerk’s question is the Forgotten Depression of 1919/1920.
Coolidge and his Treasury. Sec. Mellon CUT the government size/spending 50% eliminating/combining 100’s of agencies, CUT upper tax rate from 76% to 24%, reduced regulations, and the FED didn’t intervene.
After these initiatives were implemented, within 2 years, the unemployment rate fell from 20% to 4%, GDP growth soon hit 7%, standards of living exploded, industrial production rapidly expanded, exports increased, and led to the roaring 20’s–one of the fastest periods of economic growth in U.S. history.
They did keep interest rates too long and had insufficient margin limits 10% I think–confirm this point, which contributed to the stock market crash of 1929 primarily caused by the Smooth-Hawley Tariff Act however, it still shows what is possible when you governments stop trying to “fix” things.
Anyway Peter, you are incredible and would contribute to your campaign if when? you run again for Senate.
If you ever ran for President, I would contribute to your campaign and send in my absentee ballot with your name checked off!
Keep up your outstanding work!