Got to agree with you generally. The depression of 1873 was based on the railroad bubble. Similar to the housing bubble since railroads spent a decade being a guaranteed investment like housing was. The bank Jay Cooke and Co failed when foreign money dried up. This failure spawned a failure on wall street and the New York stock exchange was shut down for 10 days to control panic selling. Within 2 years of Cooke's failure almost 20,000 businesses were lost and a third of the railroads went bankrupt. Unemployment was high and wages lost up to 45% which in turn spawned the rise of labor unions. This particular depression lasted 6 years but some think that the US didnt actually recover until 1897. I'm not sure there is a good side to the involvement or lack of. I think the involvement has done away with the smaller recessions which in turn build up to big ones. A problem is that with the economy so globally connected the businesses need to be so big to remain competitive. So while I agree with the sentiments I'm personally not sure that it is totally the right way, which is why the government doesn't pay me for economic advice.
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Today's Featured Article - Hydraulics - Cylinder Anatomy - by Curtis von Fange. Let’s make one more addition to our series on hydraulics. I’ve noticed a few questions in the comment section that could pertain to hydraulic cylinders so I thought we could take a short look at this real workhorse of the circuit. Cylinders are the reason for the hydraulic circuit. They take the fluid power delivered from the pump and magically change it into mechanical power. There are many types of cylinders that one might run across on a farm scenario. Each one could take a chapter in
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