Second Great Depression Looming?

[loosecannon]

I'm not sure that is good causal connection.

it isn't, it was a non sequitur

 

[edthecynic]

Wrong, FDR backed of and tried to bring the budget into balance in 1937 due to public outcry.

The economy tanked and he had to reup the new deal programs.

then they economy began recovering again.

Its history.

Not quite. Unemployment went back up when FDR scaled back the Raw Deal because no recovery had taken place, period. The Federal government was propping it up with debt. It was a facade. Had the Raw Deal actually helped the economy recover then the unemployment rate wouldn't have started rising again when the government welfare stopped because the private sector would have been hiring.

That is the thing. Any program must be judged by the results. The Big 0 set the standard by which the stimulus would be judged: To prevent unemployment from topping 8%. It did. He failed.

And since the GOP delayed passage until after UE reached 8.6% it's Obama's fault. BRILLIANT

 

[edthecynic]

I'm not convinced that it is still possible for the US to suffer another Great Depression. Severe recessions, yes...but nothing like the 1930's.[/FONT][/SIZE][/COLOR]

Here's what the Washington Times said in 2007:

Not a worsening economy

Seventy percent of Americans now say the economy is getting worse, a belief contradicted by a growing work force, increased wages and household wealth, and a stock-market rally that has boosted worker-retirement investments.

So 70% of Americans are too stupid to know that the Elitist extreme right wing whacko Washington Slimes knows more than the American People.

Time has proven the American People RIGHT and the partisan hacks at the Washington Slimes and their manipulated "data" dead WRONG.

 

[saveliberty]

FDR's alphabet soup had people working on all sorts of public works projects. This doesn't work now because:

1. Most bridges and roads that could be built now would be unnecessary.
2. Much of the manual labor done in that time would be against OSHA rules.
3. Not nearly the number of people are used in this type of work any more.
4. The current economy requires different skill sets than many of the unemployed have.
5. Businesses are much more regulated today than in the 1930's.

 

[Soggy in NOLA]

I'm not convinced that it is still possible for the US to suffer another Great Depression. Severe recessions, yes...but nothing like the 1930's.[/FONT][/SIZE][/COLOR]

Here's what the Washington Times said in 2007:

Not a worsening economy

Seventy percent of Americans now say the economy is getting worse, a belief contradicted by a growing work force, increased wages and household wealth, and a stock-market rally that has boosted worker-retirement investments.

So 70% of Americans are too stupid to know that the Elitist extreme right wing whacko Washington Slimes knows more than the American People.

Time has proven the American People RIGHT and the partisan hacks at the Washington Slimes and their manipulated "data" dead WRONG.

Simmer down Beavis... simmer down.

 

[Dont Taz Me Bro]

So 70% of Americans are too stupid to know that the Elitist extreme right wing whacko Washington Slimes knows more than the American People.

Time has proven the American People RIGHT and the partisan hacks at the Washington Slimes and their manipulated "data" dead WRONG.

You would then agree that Cap and Trade and ObamaCare are bad ideas?

 

[Soggy in NOLA]

Raising taxes and cutting spending will probably plunge the economy back into recession, not depression, like it did in 1937. One of the differences though is that in 1937, the Fed increased reserve requirements, effectively tightening monetary policy. That would be like raising interest rates today, which would be insane. This won't happen.

There is still more adjustment that needs to occur in the economy. Rather than have a sharp but shorter recession, the politicians have decided to have a longer, shallower one. We tried that in 2000-02 and wound up with the Housing Bubble.

Bullshit. We ended up with the housing bubble because of SASI loans (thanks FrankenDodd) and the resulting subprime mess.... demand went way up for housing because people that probably couldn't get a payday loan were getting mortgages.

Theidea that the genius' in DC have designed this prolonged recession is horseshit.. they haven't a clue. The chips should have been left to fall where the would have.

 

[Soggy in NOLA]

The same Time Magazine that declared Obama "Man of the Year" before he'd done one fucking thing? That Time Magazine?

Yeah, they always get it right....
LMAO.

 

[Douger]

Second depression ?
This is heading into the total collapse of western culture.
Fasten your seat belts !

 

[Toro]

Raising taxes and cutting spending will probably plunge the economy back into recession, not depression, like it did in 1937. One of the differences though is that in 1937, the Fed increased reserve requirements, effectively tightening monetary policy. That would be like raising interest rates today, which would be insane. This won't happen.

There is still more adjustment that needs to occur in the economy. Rather than have a sharp but shorter recession, the politicians have decided to have a longer, shallower one. We tried that in 2000-02 and wound up with the Housing Bubble.

I'm not sure that is good causal connection. The Bush Administration was bent on reducing taxes. Before the 9/11 attacks it was to give back the windfall. After the 9/11 attacks it was to stimulate the economy. Like the current administration, Bush wanted to do what he wanted to do and would lie in any direction to get it done.

The Housing bubble was caused by too many buyers chasing too few houses and by lending practices favorable to those who really had no business receiving the kind of money that they were approved to burrow. Whether it was sub prime burrowers or lenders counting on the growth of value to cover the loan amount or the home owners taking second or third mortgages against the imaginary increase in value, the entire country was participating in the fraud that led to the bubble.

The housing bubble that led to the toxic assets and then to the TARP was a truely bi-partisan, post racial, unified classes movement by our country. In this way, it was truely something to be proud of. No Party or class or race was outside of the influence and now pain of this thing.

Interestingly, the proposed intent of TARP was to correct the problem by eliminating the toxic assets. This purpose was perverted as soon as the money was approved and then, under the Big 0, was completely forgotten.

The toxic assets are still there and still toxic.

We would never had had the Housing Bubble without cheap credit. All bubbles are a function of cheap credit to some extent. The Bush administration bears some responsibility for that - just as the Obama administration bears some responsibility for it today - but the primary culprit was the Fed.

 

[edthecynic]

So 70% of Americans are too stupid to know that the Elitist extreme right wing whacko Washington Slimes knows more than the American People.

Time has proven the American People RIGHT and the partisan hacks at the Washington Slimes and their manipulated "data" dead WRONG.

You would then agree that Cap and Trade and ObamaCare are bad ideas?

Thank you for proving my point, that CON$ will contradict themselves from issue to issue.

The opinion of 70% of the American people is worthless when it contradicts a GOP administration, but is the final authority when it contradicts the Dems.

TIME has not PROVEN anything regarding Cap and Trade or Health Care Reform YET.

 

[Intense]

So 70% of Americans are too stupid to know that the Elitist extreme right wing whacko Washington Slimes knows more than the American People.

Time has proven the American People RIGHT and the partisan hacks at the Washington Slimes and their manipulated "data" dead WRONG.

You would then agree that Cap and Trade and ObamaCare are bad ideas?

Thank you for proving my point, that CON$ will contradict themselves from issue to issue.

The opinion of 70% of the American people is worthless when it contradicts a GOP administration, but is the final authority when it contradicts the Dems.

TIME has not PROVEN anything regarding Cap and Trade or Health Care Reform YET.

Yeah right. It is sort of like the second Revolution. Sort of reminds me of "We The Living". Have a great Labor Day, Comrade Party Member.

 

[Avorysuds]

So 70% of Americans are too stupid to know that the Elitist extreme right wing whacko Washington Slimes knows more than the American People.

Time has proven the American People RIGHT and the partisan hacks at the Washington Slimes and their manipulated "data" dead WRONG.

You would then agree that Cap and Trade and ObamaCare are bad ideas?

Thank you for proving my point, that CON$ will contradict themselves from issue to issue.

The opinion of 70% of the American people is worthless when it contradicts a GOP administration, but is the final authority when it contradicts the Dems.

TIME has not PROVEN anything regarding Cap and Trade or Health Care Reform YET.

Uhh yes it has.... People plan for the worst and the economy stagnates just that much more.

If you knew tax cuts were in the works you would invest, hire more people or just plan on it.

If you thought taxes were going to go up (like Obamacare and cap and trade would do) you would not hire more people, possibly cut hours or let employees go.

It's really really basic logic man.

 

[saveliberty]

You would then agree that Cap and Trade and ObamaCare are bad ideas?

Thank you for proving my point, that CON$ will contradict themselves from issue to issue.

The opinion of 70% of the American people is worthless when it contradicts a GOP administration, but is the final authority when it contradicts the Dems.

TIME has not PROVEN anything regarding Cap and Trade or Health Care Reform YET.

Uhh yes it has.... People plan for the worst and the economy stagnates just that much more.

If you knew tax cuts were in the works you would invest, hire more people or just plan on it.

If you thought taxes were going to go up (like Obamacare and cap and trade would do) you would not hire more people, possibly cut hours or let employees go.

It's really really basic logic man.

Good God man! Your explanation requires people to think for themselves. They are suppose to just do what the government wants them too. Report for reprograming immediately!

 

[Dont Taz Me Bro]

So 70% of Americans are too stupid to know that the Elitist extreme right wing whacko Washington Slimes knows more than the American People.

Time has proven the American People RIGHT and the partisan hacks at the Washington Slimes and their manipulated "data" dead WRONG.

You would then agree that Cap and Trade and ObamaCare are bad ideas?

Thank you for proving my point, that CON$ will contradict themselves from issue to issue.

The opinion of 70% of the American people is worthless when it contradicts a GOP administration, but is the final authority when it contradicts the Dems.

TIME has not PROVEN anything regarding Cap and Trade or Health Care Reform YET.

I am not a CON$ (not exactly sure what a CON dollar sign is), I'm a Libertarian, so I don't think I've aided you in proving your theory regarding CON$s. I simply held you to your own words. "Time has proven the American People RIGHT." The American people have been opposed to ObamaCare for well over a year now. The majority were opposed to its passage and a majority support its repeal, with that number growing as time goes on. The American people have opposed Cap and Trade for some time now as well, by an even larger number, well into the 60 percentile.

So it would appear that the opinion of 70% of the American people is worthless when it contradicts you and the Democratic administration you support, but is the final authority when it contradicts the GOP and policies you don't support.

 

[Dont Taz Me Bro]

Uhh yes it has.... People plan for the worst and the economy stagnates just that much more.

If you knew tax cuts were in the works you would invest, hire more people or just plan on it.

If you thought taxes were going to go up (like Obamacare and cap and trade would do) you would not hire more people, possibly cut hours or let employees go.

That precisely what's happening right now.

Where Are the New Jobs? by John Stossel on Creators.com - A Syndicate Of Talent

 

[edthecynic]

You would then agree that Cap and Trade and ObamaCare are bad ideas?

Thank you for proving my point, that CON$ will contradict themselves from issue to issue.

The opinion of 70% of the American people is worthless when it contradicts a GOP administration, but is the final authority when it contradicts the Dems.

TIME has not PROVEN anything regarding Cap and Trade or Health Care Reform YET.

Uhh yes it has.... People plan for the worst and the economy stagnates just that much more.

If you knew tax cuts were in the works you would invest, hire more people or just plan on it.

If you thought taxes were going to go up (like Obamacare and cap and trade would do) you would not hire more people, possibly cut hours or let employees go.

It's really really basic logic man.

That has to be the stupidest "logic" ever.

Businesses do not hire and fire by how they are taxed. They hire and fire based on a thing called DEMAND for their products and services!

The BEST tax cut that will stimulate demand is a cut in payroll taxes. My suggestion is to replace the Bush tax cuts DOLLAR FOR DOLLAR with cuts in the payroll tax.

This would give the American wage earner an immediate increase in take home pay to spend on a regular basis without costing the employer a single penny thus stimulating demand, and the businesses that employ Americans would have an immediate cut in the cost of labor without downsizing or outsourcing a single American job as well as saving the cost of compliance. The businesses that employ the most AMERICANS will get the most benefit from the tax cuts, exactly the group of people you would want to benefit most from tax cuts.

 

[Dont Taz Me Bro]

Businesses do not hire and fire by how they are taxed.

At least now we know the source of the problem. Edthecynic has no education.

 

[saveliberty]

Businesses do not hire and fire by how they are taxed.

At least now we know the source of the problem. Edthecynic has no education.

Maybe we can just loan him a really smart cat.

 

[edthecynic]

Businesses do not hire and fire by how they are taxed.

At least now we know the source of the problem. Edthecynic has no education.

Maybe we can just loan him a really smart cat.

So a company with declining sales that gets a tax cut will hire more people, but a company with sales going through the roof won't hire because their taxes went up.
BRILLIANT

Dang these know-it-all CON$ are STUPID!