It was the Free-Market's Fault

I often hear people say the cause of the Great Depression and our current economic state is a result of the free-market, and I always agree with them. While neither Hoover nor Bush were laissez-faire Presidents, it was the free-market that brought their economies crumbling down. Both came into their presidencies with booming economies and bullish stock markets, and both left with a busted economy and bearish stocks. Both Presidents were extreme interventionist, (to name only a few) Hoover bolstered wage rates, propped up insolvent businesses, gave out subsidies, and raised tariffs that were detrimental to trade, and Bush removed the requirement to make a down payment on a house while assuring banks the government would bail them out, he reformed healthcare (medicare part D),increased spending at massive rates, and added over 159 regulations that Economist Veronique de Rugy calls "economically significant", but how is it that I claim the free-market was the cause of both severely depressed economies? Well it’s simple, no matter how long you avoid the free-market with intervention, regulations, and through allowing the government and the Federal Reserve to build bubbles, the free-market always catches up. Bubbles are unnatural and can only occur through government and the Federal Reserve in which prices exceed the natural market prices and interest rates are far lower than natural market rates. The sheer size of these unnatural bubbles cannot sustain themselves against the force of the natural-market and the more they resist the natural flow that the economy wants to take, the closer they come to bursting the bubble. As these bubbles grow and grow and grow, the economy artificially grows and grows and grows which is where the state of the economy was at when both Bush and Hoover took office. Eventually the bubbles can no longer resist the free-market and the free-market bursts the bubbles which results in the economy crashing down below the natural standards in order to naturally cleanse itself of the impurities of insolvent businesses that were being propped up through fiat dollars, credit, and regulations. As the Nobel Laureate in Economics, Milton Friedman, once put it, it’s “like alcohol, the good effects come first.” For a metaphorical story regarding the boom-bust cycle please read Maynard's Binge, just below.