"Massive jolts of New Deal spending had stopped the economic slide, [but the economy crashed again when] over two years, FDR slashed government spending 17 percent." (From a 2011 NPR presentation.) In the last installment of this series, I discussed the hypothesis that the 1937 collapse resulted…

FDR and the value of the dollar.

"In 1934, the government price of gold was increased to $35 per ounce, effectively increasing the gold on the Federal Reserve’s balance sheets by 69 percent. This increase in assets allowed the Federal Reserve to further inflate the money supply." ("FDR takes United States off gold standard,"…