The Federal Reserve was created in 1913 in the middle of a depression and quickly brought the country out of the depression through World War I. It is called massive spending and incurring massive debt to bolster a false economy. Following World War I there was a series of depressions, including the so called Great Depression and this cycle was not broken until World War II, which as far as spending was concerned, made World War I look like a trip to McDonalds.
Of course the debt accumulated was just as ginormous. In fact the debt was so huge it could not be paid. We all know how compound interest works and when you are financing using a fiat debt dollar, there reaches a point when it is mathematically impossible to discharge a debt. The truth is it has been mathematically impossible to discharge a debt from the creation of the first fiat dollar because of the interest attached.
Enter in the Marshall Plan which was a mass forgiveness of debt, which in reality was just a mass forgiveness of the interest the international bankers compiled through the finance of the war. Of course there has been one depression after another here in the United States and around the world since World War II as depression is a natural consequence of dealing in fiat debt dollars.
If you look up the depression of 1913-1914 in Wikipedia, it and all the other depressions except the Great Depression are called recessions. The word “recession” was adopted in the 1970s, I guess so the people would not get so depressed over the depressions.
Think about it, looking out across a flat field there is a one foot dip in the ground. Now is that a recession or is that a depression? It is both. It is one and the same.
What we are in at present is a deep crater, much like that that existed in Europe after World War II. The international bankers do not want the crater to end, as the people of the world seem content to endure it and indeed be brought into slavery by it.
A furtherance of the status quo through a Romney or Obama administration will only serve to make matters worse. Mathematically, there is only one solution to this problem.
Delete the fraudulent debts from the computers, round up all the bankers, and use their thieving carcasses to fill the crater they created.
God bless the Republic, death to the international corporate mafia, we shall prevail.