A Short History of Significant American Recessions, Depressions, and Panics

About the Book

If you look carefully at the chart on the front cover, you will notice that prior to WW II there was a significant number of Recessions, Depressions, and Panics. Yet, after WW II, there was a noticeable absence of these downturns; and they were both smaller in size and in duration – this is not by accident. This book explores why such a dichotomy exists and who or what is responsible for it. We dig deep into what classical (conservative) economics means and what so-called liberal economics consists of. We look into why and where each is the same and each is different. To understand this is to understand what politicians are telling you and to help determine the veracity of what you are hearing. Through an analysis of over two dozen major recessions, depressions, and panics that have occurred in our 200+ years as a nation we gain an understanding of the five factors needed to have a major downturn. These same five factors were present in the Long Depression in the mid-1800s as well as the Great 2008 Recession. Understanding that this is, in fact, true will help guide you on who to vote for in order to produce the best possible economic outcome for you.

About the Author

Scott Belford has served his country, in one capacity or another, from 1971 – 2008. He is a retired Army Major and a retired Air Force civil servant. Scott currently is partner and CFO of Alcohol & Drug Testing Services, LLC. He has undergraduate degrees in Computer Science, Mathematics, and Accounting plus a graduate degree in Operations Research. With the Air Force, Scott earned a certification as a Professional Cost and Economics Analyst from the Air Force Institute of Technology and is a graduate from the Air War College. His achievements were the development of the Air Force Total Ownership Cost (AFTOC) MIS and the Cost of Base Realignment (COBRA) economic model for base closure analysis used by the Department of Defense and each Branch. Since retiring, he has submerged himself in American political history and has published many articles under the pseudonym of My Esoteric.