The government created the great depression

My opponent lists many reasons, I will refute them. 1. DeflationMy opponents first argument is under consumption and fear, which was caused by the bubble. Now, the argumet only works IF we know what created this bubble, was it like the recent bubble, government policies sped it up? Or was it some free market failure. During the time right before the great depression, there was a huge increase in the federal governments size and power. [1] This bubble was created by the speculative spending bubble, the bubble popped as we can see today. This may have been made by the federal reserve raising the discount rates. Another the bubble came about was because of the banking failures, which where made inefficient by government regulations. The depositors lost faith in the banks, due to the fact the banks where made weak by regulations. This was a "bank run", where we all try to get to the bank first to take the money before the banks collapse. This too lead to the bubble. [2] And, we link this all to government regulations. 2. Bank failures Hey, I luckily summed up my refutation above. We can link this to government regulations and the government created bubble. I recommend the last refutation for info. 3. Bad investments Before we can assume this is the persons fault, we must ask why where people doing this. Is it linked to anything else? Or just people with money signs in their eyes. Now, we must assume this was the bubble, as we can assume with the current gold, soon to be diamond [see commercials] and possibly silver. The current bubble with gold is prices are rising, buy it then sell it for more. Call gold line today. :P But this is a poor choice, as it is an obvious bubble created by a rise in prices. So it is likely the people where looking into these mal-invesements was because of some type of bubble, a boom in he stock market. We must now ask who/what created the bubble? This was caused by a bubble, my opponent surely agrees, now: what made it? It was artifical. The government turned a slow incline to a boom. [3]"The spectacular crash of 1929 followed five years of reckless credit expansion by the Federal Reserve System under the Coolidge administration. In 1924, after a sharp decline in business, the Reserve banks suddenly created some $500 million in new credit, which led to a bank credit expansion of over $4 billion in less than one year. While the immediate effects of this new powerful expansion of the nation's money and credit were seemingly beneficial, initiating a new economic boom and effacing the 1924 decline" [3]Essentially the fed created the boom and the crash, hence this argument proves nothing. 4. WWI debts This is actually a government problem too. The government was a reason we entered the war anyway. My opponent also forgets what else we did, but I will talk about that later. My opponent says we gave loans to them. But these loans came from the US government, so if the debts where the problem we can link this to US government policies after WW1. And as stated last round the US inflated currency as the UK deflated it, causing monetary problems. [4]CONCLUSION: The arguments presented by my opponent are poor, as they only work assuming the boom was market created. The boom caused this... these... problems, which then in turn hurt the economy. As I have stated, the boom was actually not much of a boom, until the government gave it a small push then kept it on speed [lol] to keep it artificially continuing, which lead to a bust, as we know as the great depression. It is assumed by all the boom lead to the economic bust, but where we differ is on how it happened. I believe in this debate I have proven the boom, which lead to the bust [great depression], was government created. It is basic logic. My argument is the simple:Monetary failuresFiscal failures=the "boom"=Bust=great depression. The government, no matter the angle you look at it, created the great depression. All of the things my opponent cited, from investments to banks, are linked to regulations or the government made boom. Vote PRO, as everything my opponent argued can be linked to the boom and bust, and the infamous government. __________[1] http://www.thefreemanonline.org... [2] Ibid [3] http://mises.org...[4] mises.org/rothbard/agd.pdf