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"Excepting 1937-1938, unemployment fell each year of Roosevelt's first two terms [while] the U.S. economy grew at average annual growth rates of 9 percent to 10 percent," writes University of California historian Eric Rauchway.
According to Federal Reserve chairman Ben Bernanke, "Only with the New Deal's rehabilitation of the financial system in 1933-35 did the economy begin its slow emergence from the Great Depression." In fact, even famed conservative economist Milton Friedman admitted that the New Deal's Federal Deposit Insurance Corp. was "the structural change most conducive to monetary stability since ... the Civil War."
1937-1938 FDR had tried to balence the budget because the republicans had whined enough to make him take notice of their "concerns". The economy started to reverse so he went back the the original plan and it worked yet again.
The people are not going to just sit back and watch the republican party wordsmith and lie any more. You guys always have the WRONG plan and its purely for partisan reasons.
Your party is going to die and its will be the best thing to happen to America in many years.
rofl, I'd take anything that Ben Bernanke says with a grain of salt. He's been the worst fed chairman in the history of it's infamous existence. I don't like Republicans or Democrats, so don't label me partisan.
Hoover had intervened by bailing out companies, trying to keep prices up, and otherwise preventing the market from correcting. FDR expanded upon Hoover's failed policies and instituted unconstitutional programs that merely exacerbated and prolonged the Depression. Unemployment fell during FDR's years, yes, as that was a signal that the market wanted to resume economic growth, but it was inhibited by FDR until 1945. Why would it take 9 years for a recovery, if the economy wasn't being inhibited? It's revisionist history to say that FDR helped speed up recovery. I don't call a decade a speedy recovery, sorry.
It's really a shame it's going to take a -second- collapse of our standard of living (along with the dollar, most likely) to learn what we should've learned the first time around-- intervention in the markets are the cause of all suffering.
Reagan also kicked off the biggest debt and the republicans insane path of lies and myth instead of fact.
"Excepting 1937-1938, unemployment fell each year of Roosevelt's first two terms [while] the U.S. economy grew at average annual growth rates of 9 percent to 10 percent," writes University of California historian Eric Rauchway.
According to Federal Reserve chairman Ben Bernanke, "Only with the New Deal's rehabilitation of the financial system in 1933-35 did the economy begin its slow emergence from the Great Depression." In fact, even famed conservative economist Milton Friedman admitted that the New Deal's Federal Deposit Insurance Corp. was "the structural change most conducive to monetary stability since ... the Civil War."
1937-1938 FDR had tried to balence the budget because the republicans had whined enough to make him take notice of their "concerns". The economy started to reverse so he went back the the original plan and it worked yet again.
The people are not going to just sit back and watch the republican party wordsmith and lie any more. You guys always have the WRONG plan and its purely for partisan reasons.
Your party is going to die and its will be the best thing to happen to America in many years.
rofl, I'd take anything that Ben Bernanke says with a grain of salt. He's been the worst fed chairman in the history of it's infamous existence. I don't like Republicans or Democrats, so don't label me partisan.
Hoover had intervened by bailing out companies, trying to keep prices up, and otherwise preventing the market from correcting. FDR expanded upon Hoover's failed policies and instituted unconstitutional programs that merely exacerbated and prolonged the Depression. Unemployment fell during FDR's years, yes, as that was a signal that the market wanted to resume economic growth, but it was inhibited by FDR until 1945. Why would it take 9 years for a recovery, if the economy wasn't being inhibited? It's revisionist history to say that FDR helped speed up recovery. I don't call a decade a speedy recovery, sorry.
It's really a shame it's going to take a -second- collapse of our standard of living (along with the dollar, most likely) to learn what we should've learned the first time around-- intervention in the markets are the cause of all suffering.
And you are ignoring the numbers that prove FDR was right.
This negates all the silly bullshit you are spewing so that you can feel like you know something that everyone else is too dense to see.
You are seeing this from your own emotional shortcomings instead of the facts.
rofl, I'd take anything that Ben Bernanke says with a grain of salt. He's been the worst fed chairman in the history of it's infamous existence. I don't like Republicans or Democrats, so don't label me partisan.
Hoover had intervened by bailing out companies, trying to keep prices up, and otherwise preventing the market from correcting. FDR expanded upon Hoover's failed policies and instituted unconstitutional programs that merely exacerbated and prolonged the Depression. Unemployment fell during FDR's years, yes, as that was a signal that the market wanted to resume economic growth, but it was inhibited by FDR until 1945. Why would it take 9 years for a recovery, if the economy wasn't being inhibited? It's revisionist history to say that FDR helped speed up recovery. I don't call a decade a speedy recovery, sorry.
It's really a shame it's going to take a -second- collapse of our standard of living (along with the dollar, most likely) to learn what we should've learned the first time around-- intervention in the markets are the cause of all suffering.
And you are ignoring the numbers that prove FDR was right.
This negates all the silly bullshit you are spewing so that you can feel like you know something that everyone else is too dense to see.
You are seeing this from your own emotional shortcomings instead of the facts.
You're seeing things through ideological lenses. Read what Rothbard wrote on the Depression:
an excerpt: Hoover's Attack on Laissez-Faire - Murray N. Rothbard - Mises Institute
Numbers prove that the economy was recovering until 1936, agreed. But I fail to see the correlation between that and FDR's policies. Logic tells me that if FDR's policies were the reason for recovery, it wouldn't have taken 9 years for recovery to happen. So the conclusion that can be reached is that FDR's policies impeded recovery, as it was trying hard to happen, and had seen some light in a reduction of unemployment during the years, but was ultimately blocked by FDR until 1945.
I thought the new revisionist history was to say that the New Deal wasn't big enough, and that's why it took 9 years? Only WWII was large enough to pull our economy out of depression? When revisionists agree on how history transpired, let me know.
rofl, I'd take anything that Ben Bernanke says with a grain of salt. He's been the worst fed chairman in the history of it's infamous existence. I don't like Republicans or Democrats, so don't label me partisan.
Hoover had intervened by bailing out companies, trying to keep prices up, and otherwise preventing the market from correcting. FDR expanded upon Hoover's failed policies and instituted unconstitutional programs that merely exacerbated and prolonged the Depression. Unemployment fell during FDR's years, yes, as that was a signal that the market wanted to resume economic growth, but it was inhibited by FDR until 1945.
It's really a shame it's going to take a -second- collapse of our standard of living (along with the dollar, most likely) to learn what we should've learned the first time around-- intervention in the markets are the cause of all suffering.
"Excepting 1937-1938, unemployment fell each year of Roosevelt's first two terms [while] the U.S. economy grew at average annual growth rates of 9 percent to 10 percent," writes University of California historian Eric Rauchway.
According to Federal Reserve chairman Ben Bernanke, "Only with the New Deal's rehabilitation of the financial system in 1933-35 did the economy begin its slow emergence from the Great Depression." In fact, even famed conservative economist Milton Friedman admitted that the New Deal's Federal Deposit Insurance Corp. was "the structural change most conducive to monetary stability since ... the Civil War."
1937-1938 FDR had tried to balence the budget because the republicans had whined enough to make him take notice of their "concerns". The economy started to reverse so he went back the the original plan and it worked yet again.
The people are not going to just sit back and watch the republican party wordsmith and lie any more. You guys always have the WRONG plan and its purely for partisan reasons.
Your party is going to die and its will be the best thing to happen to America in many years.
Reagan also kicked off the biggest debt and the republicans insane path of lies and myth instead of fact.
rofl, I'd take anything that Ben Bernanke says with a grain of salt. He's been the worst fed chairman in the history of it's infamous existence. I don't like Republicans or Democrats, so don't label me partisan.
First, Bernanke is considered to be the foremost academic in the world regarding the Great Depression. Second, to say that he is the worst Fed chairman is silly because he hasn't even yet finished is first term and we will not know the effects of his policies for years. So to judge him now isn't serious.
Hoover had intervened by bailing out companies, trying to keep prices up, and otherwise preventing the market from correcting. FDR expanded upon Hoover's failed policies and instituted unconstitutional programs that merely exacerbated and prolonged the Depression. Unemployment fell during FDR's years, yes, as that was a signal that the market wanted to resume economic growth, but it was inhibited by FDR until 1945.
In 1937, FDR balanced the budget, hiking taxes and slashing spending, which lead to the 1937-38 recession.
Its also not serious to label Hoover as an interventionist. This is convenient revisionism for those promoting an ideological agenda. The budget deficit was 0.7% in 1931, the highest level up until that time. Under Bush II, it never got under 1%, and that was during an economic expansion. The deficit hit 4% - the same level it hit under Bush - in 1932.
It's really a shame it's going to take a -second- collapse of our standard of living (along with the dollar, most likely) to learn what we should've learned the first time around-- intervention in the markets are the cause of all suffering.
You are correct if you are referring to the policies of the Fed. However, the market contributed enormously to this collapse, given that Wall Street and the major banks took on huge amounts of debt, all on their own volition, to drive up returns and their compensation. This is a financial collapse of which the primary enabler was the Greenspan Fed, exacerbated by a deregulated financial system which allowed excessive leverage and almost non-existent lending standards.
Conservative Fiction: The New Deal Sucked! | OurFuture.org
Parties do die my friend and if your party keeps doing nothing but lying to the American people they will die.
What do all three of these conservative attacks have in common?
They all base their claims on last year's book, "The Forgotten Man: A New History of the Great Depression," written by Amity Shlaes a former member of the conservative Wall Street Journal editorial board, and found to have used misleading numbers.
Having debt is better than dying.
What you suggest we do is certain death for the US
