Changes

:The quotations from me are not altogether correct. In particular I did predict that there would be a recession, and I think I was the only man that publicly 'called the turn'.<ref>[http://fraser.stlouisfed.org/docs/meltzer/fisdis34.pdf  Irving Fisher, "Discussion by Professor Irving Fisher" (On the causes of the Great Depression), ''Annals of The American Academy,'' pp. 150-51.]</ref>  

:The quotations from me are not altogether correct. In particular I did predict that there would be a recession, and I think I was the only man that publicly 'called the turn'.<ref>[http://fraser.stlouisfed.org/docs/meltzer/fisdis34.pdf  Irving Fisher, "Discussion by Professor Irving Fisher" (On the causes of the Great Depression), ''Annals of The American Academy,'' pp. 150-51.]</ref>  

According to Fisher, this debt-induced recession was unavoidable, but the [[Great Depression]] could had been avoided:  

According to Fisher, this debt-induced recession was unavoidable, but the [[Great Depression]] could have been avoided:  

:I believe some of the crash was inevitable because of over-indebtedness, but the depression was not inevitable. The reason is that the deflation which went with the over-indebtedness was not necessary.

:I believe some of the crash was inevitable because of over-indebtedness, but the depression was not inevitable. The reason is that the deflation which went with the over-indebtedness was not necessary.