Goldman Sachs Drops Out of R3 Blockchain Group

Re:Goldman Sachs Drops Out of R3 Blockchain Group by terravion on Monday November 21, 2016 @07:46PM (#13010686)

Genocidal I can grant, but we are talking about bank policy here. It seems that all evidence says that the 100 years after Jackson were objectively some of the most economically dynamic for the United States, especially in comparison to Europe or any other place in the world during that period. How was the economy crippled?

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Re:Goldman Sachs Drops Out of R3 Blockchain Group by pfranz on Monday November 21, 2016 @07:55PM (#13010734)

I can't speak for the 100 years, but I always thought his determination to pay off the national debt was a big contributor to economic problems[1]

[1] https://en.wikipedia.org/wiki/Andrew_Jackson#Panic_of_1837

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Re:Goldman Sachs Drops Out of R3 Blockchain Group by c3534l on Monday November 21, 2016 @07:50PM (#13010703)

It was my understanding that (and especially absent a central bank) the US economy became prone to frequent and periodic economic panics, uncontrolled periods of inflation and deflation, and general financial instability.

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Re:Goldman Sachs Drops Out of R3 Blockchain Group by iopq on Monday November 21, 2016 @08:31PM (#13010902)

As opposed to now, when we have frequent bubbles and bursts and more inflation?

It's hard to say what's better.

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Re:Goldman Sachs Drops Out of R3 Blockchain Group by bildung on Tuesday November 22, 2016 @03:01AM (#13012462)

Both bubbles and bursts were more frequent and of higher amplitude in the 19th century:

https://commons.wikimedia.org/wiki/File:US_Historical_Inflat...

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Re:Goldman Sachs Drops Out of R3 Blockchain Group by CobrastanJorji on Monday November 21, 2016 @07:51PM (#13010710)

You are referring to the time period immediately preceding but not including the 1940s and 50s?

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