Dean Baker : "We're told that Fed officials and the Obama administration saved us from another 1930s-style slump. Nonsense"
http://www.guardian.co.uk/commentisfree/cifamerica/2012/feb/16/second-great-depression-saviour-myth
However, it might be disingenous to compare the US to Argentina, since in the case of Agentina a collapsing currency must have made it more competetive and allow it to grow with exports to a still existing world economy, whereas if something similar happened the US and the dollar, that entire economy would be severly shaken.
And furthermore even if financial armegeddon was always unlikely, extreme chaos and misery could still have been possible.
Still - hyperbole should be shot down, on both sides of the political divide...so worth reposting...
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