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The Ludwig von Mises Institute  Advancing Austrian Economics,
Liberty, and Peace  Advancing the scholarship of liberty in the
tradition of the Austrian School  Search Mises.org  Currency
Wars  Mises Daily: Monday, November 15, 2010 by   When my book
on the Great Depression came out — shortly after Obama's
inauguration — I told radio interviewers that our current
economic crisis was the start of the Second Great Depression.
The Federal Reserve and the government implemented the same
types of policies after the housing crash as they did in the
1930s after the stock-market crash.  Another parallel to the
Great Depression is the possibility of a massive trade war. Back
then, the United States government passed the infamous Smoot-
Hawley Tariff, which in turn led to reciprocal trade barriers by
other governments.   In our own time, US officials have
pressured the Chinese to allow their currency to appreciate
against the dollar. More recently, European