Answer:
What made the Great Depression "Great" was the government response. Constant changes the regulatory environment, tax increases, massive deficits, and failure to let the market correct paralyzed the economy in its depressed state for 15 years.
Both were caused primarily by an over expansion of credit rooted in loose money supply. The monetary response to the current recession has been different. Rather than tightening to force the market to bottom, the Fed has maintained low rates in an effort to re-inflate the bubble conditions. Hoover/Bush & FDR/Obama responses are similar as all tried to spend their way out of the problem.
1929 crash:
After WWI, Britain reset the pound to the pre-WWI level even though their money supply had far exceeded pre-WWI levels. In an effort to slow the flight of gold from Britain, the US federal reserve (led by Benjamin Strong) lowered interest rates. As always, artificially low interest rates caused massive distortions in asset values. Money flowed into the stock market and people who would not normally have been stockholders bought stocks in place of other investments that would have yielded better interest rates absent fed policy. Margin was used excessively because the real cost of leveraging was distorted by fed interest rate policy.
The fed continually lowered interest rates all the way into 1929. When the bubble popped, they tightened policy and raised rates. This contributed the deflationary spiral; however, the deflationary spiral could not have been as severe without the loose policy during the bubble.
2008 crash:
Beginning in the early 1990s, the federal reserve (led by Alan Greenspan) lowered rates while monitoring consumer prices as indicators of inflation. They ignored bubbles in the stock market directly caused by their inflationary monetary policy. When the stock bubble popped, they lowered rates further and pushed misdirected investment towards other assets - most commonly housing.
After the attacks of 9/11/2001, the fed pushed rates to 0 (long term rates were effectively negative and continue to be).
Explanation:
Hello there,
which scientific problem led Rome to change from a monarchy to a republic?
Answer: D. The senate mistreated the citizens.
Like, things they didn't have? I think slaves is one of them...
Answer: I think it's the first one, the Taliban blamed the situation on former Presidents Trump and Obama.
Answer:
Explanation:
1. There are few theories on why the books of Maccabees are not part of Jewish scriptures.
The first one is the date; it is believed that the Council of Jamnia only took books that existed for a long time and were unofficially considered canonical when canonizing Hebrew Bible. The events in the old testament go from the Creation to the book of Esther, happening during the rebuilding of the Temple. For them, The Maccabean Revolt was the recent event, happening after these mentioned ones.
The more probable reason, however, lies in the separation of Judaism on two fractures – <em>the Pharisees</em> and<em> theSadducees</em>. While Pharisees lean towards ideas of oral law and tradition, Sadducees reject them and follow the written Torah as the only canon. The Maccabees are believed to be descendant from Pharisees, and quite possibly excluded from canonization by a council of Jamnia because of this reason.
However, the books of Maccabees are still valuable historical account, the one because of which Hanukah is celebrated.
2. Because of the evidence presented above, the answer is - Yes, it is true that the first and second Maccabee books were written as part the Jewish history.
