Government interference in the banking sector

In the absence of central bank control over the banking system, competition between private banks in the market would tend to limit credit expansion (and thus remove the source of the business cycle aberrations).

"Government interference" in the banking sector is responsible for credit expansion.

The US is repeating mistakes from the 1930s, such as wide-ranging stimuluses,
protectionist tendencies and appeals, the Buy American campaign, and so on

Great Depression was caused by too much spending, rather than too little.