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Recession After The Great Depression: A Case Study

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The worst recession since the Great Depression! The recent burst of the 8 trillion dollar house bubble, left the nation in shambles as the business orders are declining drastically- a startling 0.06 percent drop from the previous year. The consumer spending and business investments drying up, is leading to significant loss of jobs which brings into question- Is the government doing anything to stop this recession? Here are some fiscal policies that the government could enact to solve the crisis: 1) Federal Reserve should purchase a plethora of nonperforming financial assets from the balance sheets of banks. With congressional authority the Treasury will be able to buy financial assets from private banks, if 5 Fed is willing to help. Congress
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