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“The Great Depression, like most other periods of severe unemployment, was produced by government mismanagement rather than by any inherent instability of the private economy.” – Milton Friedman
We are going to see a repeat of this over the next year or two. We are headed for recession, and possibly depression (although no one will call it that) even if the Republicans take over control of both houses of Congress next year. Part of that is due to existing inflation. But an even larger part will be due to government mismanagement.