Category: Politics

The Founders Predicted our Economic Crisis

Did Thomas Jefferson call the economic crisis? “Every thing predicted by the enemies of banks, in the beginning, is now coming to pass. we are to be ruined now by the deluge of bank paper as we were formerly by the old Continental paper.” That’s from a letter to Thomas Cooper in January 1814. And while it sure seems to apply today, Jefferson was actually observing – and predicting – the depression of 1815-21, and the Panic of 1819.

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CHANGE LANGUAGE/CAMBIAR IDIOMA

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