The great depression II

[mash107]

Why, also, is the unemployment rate so important in determining the health of an economy? The Soviets had full employment, but they didn't make shit people wanted in their country or abroad, and so they eventually collapsed.

Hell, why don't we take all the unemployed and have them dig a bunch of holes one day and fill it up the next? The important figure we need to be looking at is how much we're producing things people in this country and abroad actually want as portion of the GDP. That will provide the type of empirical data that's relevant to the health of an economy.

 

[Kevin_Kennedy]

All from the same school of thought which has never held office or ran any economy.

Well I could list multiple people of Austrian thought that have held office, and been directly involved with the economy. But to refute this post I need only list one.

Congressman Ron Paul

 

[Truthmatters]

and he has seen none of what he wants done implemented.

 

[Kevin_Kennedy]

and he has seen none of what he wants done implemented.

You claimed that no Austro-Libertarians held any office or had anything to do with the economy, you were wrong.

 

[Toro]

If that is true, then we are screwed. I am not judging him based solely on his actions, but rather his insistence that he is the foremost academic regarding the Great Depression, and yet, simply how his actions align more of that with a chicken with its head cut off rather than an academic. He'd be better off reading books, like Rothbard's, than trying to bailout anything more with this economy. Not only that, he's embraced Obama's policies with both arms. It's unsettling that a President has that much control over the fate of our economic future.

Taking the advice of Rothbard would collapse the financial system and plunge the economy into a far worse depression than what we are experiencing now.

The only reason why credit markets are improving is because the government has backstopped just about everything. We would still be in a vicious downward spiral otherwise.

 

[Toro]

Partisan? For who? I think you meant "biased." But you put up articles and what not by Milton Friedman and have had articles that quote Paul Krugman, both of whom are biased statists who are of course going to agree that government intervention is the holy grail.

Milton Friedman is a "biased statist?" Did I read that right?

 

[Kevin_Kennedy]

Partisan? For who? I think you meant "biased." But you put up articles and what not by Milton Friedman and have had articles that quote Paul Krugman, both of whom are biased statists who are of course going to agree that government intervention is the holy grail.

Milton Friedman is a "biased statist?" Did I read that right?

That would be correct.

 

[Toro]

Milton Friedman - Wikipedia, the free encyclopedia

hes the rights hero and Ronny Reagans guy.

That doesn't make him any less a statist.

Milton Friedman Unraveled

I doubt you'll read that article, but it provides a lot of information on how Milton Friedman is not for the free market, and is in fact a statist.

I guess you were serious.

I'll make this comment - Virtually everyone who is not an Austrian would disagree with you. And so would many Austrians.

The Austrians are as dogmatically ideological as the Marxists. Ideologues of all stripes start first that their conclusion is correct then work backwards and selectively cherry-pick information to support their thesis while ignoring information that contradicts their conclusion. Psychologists call this "confirmation bias." That does not mean ideologues are always wrong of course. However, their arguments should always be understood first that they are arguing within an ideological framework.

 

[DiveCon]

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.

MISES!!!!!!


when will you guys learn that they are partisan hacks?

you mean like the shithole partisan sites you always use?



you are a fucking joke

 

[Kevin_Kennedy]

Milton Friedman - Wikipedia, the free encyclopedia

hes the rights hero and Ronny Reagans guy.

That doesn't make him any less a statist.

Milton Friedman Unraveled

I doubt you'll read that article, but it provides a lot of information on how Milton Friedman is not for the free market, and is in fact a statist.

I guess you were serious.

I'll make this comment - Virtually everyone who is not an Austrian would disagree with you. And so would many Austrians.

The Austrians are as dogmatically ideological as the Marxists. Ideologues of all stripes start first that their conclusion is correct then work backwards and selectively cherry-pick information to support their thesis while ignoring information that contradicts their conclusion. Psychologists call this "confirmation bias." That does not mean ideologues are always wrong of course. However, their arguments should always be understood first that they are arguing within an ideological framework.

I have no problem with people disagreeing with me.

 

[Truthmatters]

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.

MISES!!!!!!


when will you guys learn that they are partisan hacks?

you mean like the shithole partisan sites you always use?



you are a fucking joke

Like Milton Friedman huh?

yet another person who has NO idea of which he speaks

 

[Old Rocks]

The Obama Depression. Took a hill and made it into Mt. Everest. He's toast.

This is about the most intellectually dishonest thing I have heard yet.


Obama is taking the same course FDR took to end the first Depression which was caused by a completetly republican government.

It worked then and it will work now.

When its over the republican party will be a huge joke.

I honestly don't know whether or not FDR's policies were beneficial or not. Yes, we came out of the Depression, but how long did it take? Many argue that his policies worsened and prolonged the Depression. That argument can be made but not proven. My point is this; if you believe FDR's policies were correct and we need the same today, then does that mean we are facing a ten year Depression? Or is there a better way?

It is very possible that we are facing an economic debacle the equal of the last Great Depression. With 7 billion human beings on this planet. And global warming in overdrive. Gonna be fun, children!

 

[Munin]

The great depression II
How we got here.

What depression? We re still in recession or has something changed?
I m guessing you already think how the bailout will turn out, we ll see what happens first and then argue if it did or it did not work. Let s not jump to conclusions too early, I find it hard to believe that you are a bigger economic expert then the ones that made this plan (they ve probably spend months working on that plan).

 

[AllieBaba]

"The Great Depression" had an unemployment rate of 29 percent. Hordes of starving people were roaming the US, with their destitute families, looking for work. Factories no longer needed the huge numbers of workers, and there was a drought in the bread basket brought on by industrialized farming before erosion-prevention practices were developed.

Last I checked, we have a fear-induced recession brought on by insistence by the left that there will be a recession any minute, and exacerbated by the complete lack of confidence wall street has in any bail outs.

 

[Meister]

This is about the most intellectually dishonest thing I have heard yet.


Obama is taking the same course FDR took to end the first Depression which was caused by a completetly republican government.

It worked then and it will work now.

When its over the republican party will be a huge joke.

I honestly don't know whether or not FDR's policies were beneficial or not. Yes, we came out of the Depression, but how long did it take? Many argue that his policies worsened and prolonged the Depression. That argument can be made but not proven. My point is this; if you believe FDR's policies were correct and we need the same today, then does that mean we are facing a ten year Depression? Or is there a better way?

It is very possible that we are facing an economic debacle the equal of the last Great Depression. With 7 billion human beings on this planet. And global warming in overdrive. Gonna be fun, children!

For God sakes, o.r. we were in worse shape under your good buddy Jimmie Carter. THE SKY IS FALLING!! THE SKY IS FALLING!!!

 

[DiveCon]

MISES!!!!!!


when will you guys learn that they are partisan hacks?

you mean like the shithole partisan sites you always use?



you are a fucking joke

Like Milton Friedman huh?

yet another person who has NO idea of which he speaks

i just find it too fucking funny when a partisan hack like you calls someone else a partisan hack

 

[Toro]

"The Great Depression" had an unemployment rate of 29 percent. Hordes of starving people were roaming the US, with their destitute families, looking for work. Factories no longer needed the huge numbers of workers, and there was a drought in the bread basket brought on by industrialized farming before erosion-prevention practices were developed.

Last I checked, we have a fear-induced recession brought on by insistence by the left that there will be a recession any minute, and exacerbated by the complete lack of confidence wall street has in any bail outs.

There will be no "Great Depression II." There may be a depression if by depression one means a 10% contraction in economic activity. However, this will not be a repeat of the 1930s.

 

[AllieBaba]

"The Great Depression" had an unemployment rate of 29 percent. Hordes of starving people were roaming the US, with their destitute families, looking for work. Factories no longer needed the huge numbers of workers, and there was a drought in the bread basket brought on by industrialized farming before erosion-prevention practices were developed.

Last I checked, we have a fear-induced recession brought on by insistence by the left that there will be a recession any minute, and exacerbated by the complete lack of confidence wall street has in any bail outs.

There will be no "Great Depression II." There may be a depression if by depression one means a 10% contraction in economic activity. However, this will not be a repeat of the 1930s.

I know.
There will, however, be atronomical inflation, brought on by Obama's idiotic strategies to reduce sensible energy production and put into place idiotic "green" friendly, non-workable options...in addition to crippling small businesses and pouring money into programs meant to increase government control over every aspect of our lives...including banking, health care, and every other business known to man.

Pretty soon we'll all have to wear ugly brown, mandarin-collared clothes like the Chinese, because that will be what he'll insist our government-controlled factories produce.

 

[manu1959]

How we got here.

first of all it isn't a depression.......and i would say that we got here....because banks issued loans to people that could not afford them......and then sold those loans in bundels around the world......

now who signed into law the deregulation that allowed banks to issue these loans........and who filed lawsuits against banks if they dared to refuse to make these loans......

and now theses same geniuses have decided to flood the currency market with 780 billion dollars....1/3 being spending....1/3 tax cuts and 1/3 "programs" for the states....

and they dare sit there today and accuse the bankers of creating the mess they legislated into place......

 

[Toro]

I know.
There will, however, be atronomical inflation, brought on by Obama's idiotic strategies to reduce sensible energy production and put into place idiotic "green" friendly, non-workable options...in addition to crippling small businesses and pouring money into programs meant to increase government control over every aspect of our lives...including banking, health care, and every other business known to man.

Pretty soon we'll all have to wear ugly brown, mandarin-collared clothes like the Chinese, because that will be what he'll insist our government-controlled factories produce.

Astronomical inflation will not occur because of what Obama is going to do. If there is going to be astronomical inflation, it will be because of the massive expansion of the Fed's balance sheet and its decision not to contract it once the crisis is over.