WI the Japanese encrypters outsmarted the US ‘Black Chamber’ before/during Washington Naval Talks? Sept 23, 2022 16:12:14 GMT
Post by stevep on Sept 23, 2022 16:12:14 GMT
BZ miletus12, that is an absolutely magnificently concise and insightful paragraph.
I especially admire "If you try to "manage" an economy instead of adjust to the market forces and realities that result from your tampering, you get 1929 and then 1939."
Don't let that go to your head....Kid
Seriously, I do take some pride in being a member of Lordroel's forum.
Unfortunately as I point out miletus12, is way off target in what actually happened. For instance
a) What free trade? Britain was the only country practicing this prior to 1914 and also after WWI until it was finally forced off the idea - which was suicidal in a deeply protectionist world - in 1931.
b) The Crash of 1929 was because there was gross lack of regulation of the financial markets in the US - which happened again at the start of this century and lead directly to 2008. This was world wide because the situation post WWI left the US the dominant financial power and it lacked either the knowledge or will to manage that responsibility properly.
c) Britain wasn't intend on punishing Germany. It was desiring to get some reparations, in part to meet the US demands for repayments even while the US was doing a hell of a lot to aid Germany in preventing reparations at all.
Britain did make some serious mistakes but they were largely in not trying to help their economy recover because the Tories, who ruled for virtually all this time took over the idiot's viewpoint of unthinking free trade and laissez faire that had crippled the Liberals for the previous few decades. The biggest single British error other than this was the choice of going back on the gold standard at the 1914 level which was far, far too high.