Tuesday, November 10, 2015

TED CRUZ IS ANOTHER WACKED OUT GOLD BUG

Tonight he claimed that the US had negligible economic problems when it was on the gold standard and that claim is demonstrably false.  According to this Congressional Research Service report, the US was on a true gold standard from 1879 to 1933.   Here's the NBER's Business Cycle table of contractions for those years:

March 1882 May 1885
March 1887 April 1888
July 1890 May 1891
January 1893 June 1894
December 1895 June 1897
June 1899 December 1900
September 1902 August 1904
May 1907 June 1908
January 1910 January 1912
January 1913 December 1914
August 1918 March 1919
January 1920 July 1921
May 1923 July 1924
October 1926 November 1927
August 1929 March 1933

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