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Enjoy I'm sure you can watch a two minute movie
Top 3 Myths About the Great Depression and the New Deal - YouTube
History, A New Revision
Written under a grant from the Heritage Foundation with funding provided by Kochroach, LLC and FreedomWorks, manufacturer of the Tea Party Express.
Call for a free hardcover copy personally signed by Dick Cheney and Jeffrey (S)Killing and don't forget to donate to Plutocracy 'R Us.
Idiot, fear mongering Pubs have power even when not controlling Congress. They had lots of money and fear mongering talking heads then too. Isolation, "common sense" austerity- Pfffft!!
Pubs have blocked EVERYTHING since 1/2010- don't be duped...again. Stimulus worked-ran out in 2010.
er, FDR saved America from the Great Depression...er, Hoover's Laisse Faire policies killed the economy...um FDR's Make Work Plans saved or created tens of million of jobs and kept unemployment low.....er......the #1 thing, about The Depression was it's CAUSE; Corporate America was allowed to RUN WILD....we allowed The Marketplace to REGULATE ITSELF!!!!
[ame=http://www.youtube.com/watch?v=w6whSWn1RRM]Great Depression - YouTube[/ame]
(Note: This info not presently-available in Texas-approved History text-books.)
Economic Policy Under Hoover
Throughout this declinewhich carried real GNP per worker down to a level 40 percent below that which it had attained in 1929, and which saw the unemployment rise to take in more than a quarter of the labor forcethe government did not try to prop up aggregate demand. The only expansionary fiscal policy action undertaken was the Veterans Bonus, passed over President Hoovers veto. That aside, the full employment budget surplus did not fall over 192933.
The Federal Reserve did not use open market operations to keep the nominal money supply from falling. Instead, its only significant systematic use of open market operations was in the other direction: to raise interest rates and discourage gold outflows after the United Kingdom abandoned the gold standard in the fall of 1931.
This inaction did not come about because they did not understand the tools of monetary policy. This inaction did not come about because the Federal Reserve was constrained by the necessity of defending the gold standard. The Federal Reserve knew what it was doing: it was letting the private sector handle the Depression in its own fashion. It saw the private sectors task as the liquidation of the American economy. It feared that expansionary monetary policy would impede the necessary private-sector process of readjustment.
Contemplating in retrospect the wreck of his countrys economy and his own presidency, Herbert Hoover wrote bitterly in his memoirs about those who had advised inaction during the downslide:
The leave-it-alone liquidationists headed by Secretary of the
Treasury Mellon felt that government must keep its hands off and
let the slump liquidate itself. Mr. Mellon had only one formula:
Liquidate labor, liquidate stocks, liquidate the farmers, liquidate
real estate. He held that even panic was not altogether a bad
thing. He said: It will purge the rottenness out of the system. High
costs of living and high living will come down. People will work
harder, live a more moral life. Values will be adjusted, and
enterprising people will pick up the wrecks from less competent
people.
Care to explain why other countries were coming out of the depression whil the U.S. continued years into it?Toooooooooooooooooo easy!!
They're (actually) applying themselves.....while WE'RE still caught-up, in......
[ame=http://www.youtube.com/watch?v=W-A09a_gHJc]Mitch McConnell: Top Priority, Make Obama a One Term President - YouTube[/ame]
Enjoy I'm sure you can watch a two minute movie
Top 3 Myths About the Great Depression and the New Deal - YouTube
History, A New Revision
Written under a grant from the Heritage Foundation with funding provided by Kochroach, LLC and FreedomWorks, manufacturer of the Tea Party Express.
Call for a free hardcover copy personally signed by Dick Cheney and Jeffrey (S)Killing and don't forget to donate to Plutocracy 'R Us.
Economic growth depends on the successful development of new industries to replace declining ones, then the most sensible economic policy for government is to target investment and other policies toward the growth of new economic sectors. Which obama has not done, his target has been with public unions.
Burden of proof rests on your shoulders. And consult a real unredacted history book. NOT the DU, Huffpoo, The AP or other blogs.the republicans ideas and leadership have resulted in the two worst economic downturns in our history
Under what Administration was the Federal Reserve created?
That would be Woodrow Wilson. The depression happened partially because the FED tampered with Interest rates...
Wilson was a Democrat. (Progressive). And at the same time we were handed the 16th and 17th Amendments.they were republicans huh?
the republicans ideas and leadership have resulted in the two worst economic downturns in our history
Under what Administration was the Federal Reserve created?
That would be Woodrow Wilson. The depression happened partially because the FED tampered with Interest rates...
Shaddup.Under what Administration was the Federal Reserve created?
That would be Woodrow Wilson. The depression happened partially because the FED tampered with Interest rates...
The majority of the states that approved the federal income tax were GOP. The great majority of GOP in Congress voted for the tax act and the federal reserve.
T, you can't win this game, if you don't know your facts.
they were republicans huh?
The majority of the states that approved the federal income tax were GOP. The great majority of GOP in Congress voted for the tax act and the federal reserve.
T, you can't win this game, if you don't know your facts.
