Glenn Beck and the Fed, 1935

I really liked this short post from Krugman Glenn Beck and the Fed, 1935. The graphs make it, but here's the relevant text:

"But what if Beck and friends had been around in, say, 1935; they would have been demanding tight money then, too. In fact, the Fed did tighten in 1937 — and FDR turned to fiscal austerity, too. The results were not good."