The Keynesian theory that government did too little to rescue the market system from the consequences of its own folly.
The Marxian theory that capitalism had collapsed as a result of its inherent contradictions.
The Monetarist theory that the Federal Reserve failed to sufficiently inflate the money supply.
The Austrian theory that the Federal Reserve over-inflated the money supply.
He believed it would create long-term prosperity for the USA.
He saw short-term success but long-term failure.
He didn't have an opinion.
He thought it was doomed to be a fiasco.
Simultaneous inflation and depression.
Stock prices falling as housing costs increased.
A reduction in monetary velocity.
Rising interest rates.
The fact that lowering interest rates creates inflation.
The fact that inflation doesn't offset unemployment.
The fact that business cycles exist.
The fact that lower taxes generate more government revenue.
A decline in the rate of GDP growth.
A readjustment of the economy to eliminate the distortions created during the expansion.
The inability of consumers to maintain their previous level of spending on consumer goods.
A reduction in the size of the national economy.
Low interest rates.
Reduced cost of living.
Business crises stem from market processes.
Economic contractions are caused by excess liquidity.
Inflation is the result of expropriated labor.
The rate of growth of the money supply dictates the growth of the economy.