CNBC Admits 30's Depression was Fed's Fault!

I agree the fed was the culprit but not for the reasons stated.

Before the bust came the boom as it always does.
They created easy money, people speculated with the 'borrowed' easy money instead of saving and investing, prices rose to unsustainable levels.

Then, when the Fed had a large number of suckers in the game.
They turned off the money spigot and it all came crashing down.

Sound familiar? it should it is exactly how the so-called housing bubble happened.

Thank you Keynes

Happens over and over and will continue to do so unless we adopt another economic strategy based on sound money and investment based on personal savings.

The Austrian model comes to mind.

You can't admit to something you didn't do.
You also can't admit something someone else did. That would be called exposing.

CNBC wasn't around in the 30's.

History repeats...