What can the goverment do about the crisis?

[Kevin_Kennedy]

2 simple words

BACK OFF

One of the main problems we have is government getting too huge, government getting it's tendrils into every aspect of life, and government thinking it is to go by the example of Robin Hood and not the US Constitution.... Government should do basically what ONLY government CAN do. Not try and make this more of a nanny state, personally or economically.

Government does not create jobs or wealth, people do and businesses do. More government and more government intervention is not going to fix our economy. CUT sending, cut taxation (and equalize taxation), and reduce the realms in which government resides.

You do realize, on the other hand, that one of the reasons the 1920's economic crisis was so strong and lasted for so many years is that the government didn't interfere on time, because of the ideology of the free independent market and its forces to reach balance without government interference...

Apparently you're talking about the Great Depression of 1929, which was prolonged due to the interventionist policies of both Hoover and FDR. The 1920 recession lasted a year because the government did not try to intervene.

 

[Indiana Oracle]

Alice, done. For what it is worth, the survey contains policy/theory bias.

 

[PoliticalChic]

2 simple words

BACK OFF

One of the main problems we have is government getting too huge, government getting it's tendrils into every aspect of life, and government thinking it is to go by the example of Robin Hood and not the US Constitution.... Government should do basically what ONLY government CAN do. Not try and make this more of a nanny state, personally or economically.

Government does not create jobs or wealth, people do and businesses do. More government and more government intervention is not going to fix our economy. CUT sending, cut taxation (and equalize taxation), and reduce the realms in which government resides.

You do realize, on the other hand, that one of the reasons the 1920's economic crisis was so strong and lasted for so many years is that the government didn't interfere on time, because of the ideology of the free independent market and its forces to reach balance without government interference...

"Instead of bailing out failing businesses, expanding government, and redistributing taxpayer money with a "stimulus" plan, Harding responded by cutting spending and removing burdensome regulations and taxes. During his campaign, he argued, "We need vastly more freedom than we do regulation." In stark contrast with the Bush-Obama response of ever-more government spending and debt, Harding had federal spending cut in half between 1920 and 1922 and ultimately ran a surplus.
As a result, the recession that started in 1920 ended before 1923. Lower taxes and reduced regulation helped America's economy quickly adjust after the war as entrepreneurs and capital were freed to create jobs and push the economy to recover. Harding's free market policies lead to the Roaring Twenties, known for technological advances, women's rights, the explosion of the middle class, and some of the most rapid economic growth in American history. Still, he is ranked as one of the worst presidents by many in academia's ivory tower."
http://www.realclearpolitics.com/articles/2009/02/obama_should_channel_harding_n.htm

 

[sealybobo]

Hi,
My name is Alice, I'm a graduate student and I need people to complete a short questionnaire (takes about 10 min.) about the current economic crisis for my thesis. It is part of an international study conducted by an academic group in the US, Europe and Africa .
The idea is to let people tell us what they people think about the economic crisis.
It is very important!
To participate, please click here …

http://www.surveymonkey.com/s.aspx?sm=6oI1yBcJxczXbjVzt_2fPA6g_3d_3d

Thanks!

Alice.

Great questionaire. I took it.

 

[DiamondDave]

You do realize, on the other hand, that one of the reasons the 1920's economic crisis was so strong and lasted for so many years is that the government didn't interfere on time, because of the ideology of the free independent market and its forces to reach balance without government interference...

I am not saying the ABSENCE of government or laws on labor or whatever. I am stating that government needs to be smaller and in less areas. Government is spread too wide into every aspect of American life.

Also, if I were you, I would look more into the reasons behind the longevity of the depression. Start looking at the governmental interference done by FDR and how that actually negatively impacted the economy and actually prolonged the depression. Not to mention the long term impact and precedent that has led us to the extraordinary levels of government size and interference that we have now

I totally agree that normally the government should not be as big as it is. That should change. But i believe that first of all we have to get out of this crisis, and the government has to have a major roll in getting us out. Only such a powerful body as the government can make a significant change. Don't get me wrong, I'm not saying that big governments are good but in order to get the country (and the world) out of the mud they have to have power and be so strong (temporarily).

Look

It is quite evident (because yes, I participated in your survey) that you do lean to the left. You had insufficient choices and choices that had positive tones for leftist answers and negative tones for other answers. You need to learn to make your questions and answer options neutral.

And you also have to know that when the government gets a hold of something or expands, the effort is 100X as hard to pry it back away from the government, because politics is about control. This is crucial to remember when advocating that the government expand to intervene. The US economy is resilient. It can and would recover without huge government intervention.

The government ONLY has to have a major role in the things that ONLY government can do. And government is not the ONLY way out of a national financial situation.

 

[RodISHI]

Hi,
My name is Alice, I'm a graduate student and I need people to complete a short questionnaire (takes about 10 min.) about the current economic crisis for my thesis. It is part of an international study conducted by an academic group in the US, Europe and Africa .
The idea is to let people tell us what they people think about the economic crisis.
It is very important!
To participate, please click here …

http://www.surveymonkey.com/s.aspx?sm=6oI1yBcJxczXbjVzt_2fPA6g_3d_3d

Thanks!

Alice.

Restore tighter regulations to the banking and insurance industry. Force the separation of the banking and insurance industries and enforce existing anti-monopoly laws. There has to be a way to regulate these corporate entities. Having them lumped together has created a swiss cheese effect of loopholes which circumvents regulations and has removed a lot of accountability statutes from being enforced. Gray areas are no excuse for these giants to grow new tentacles.

Restore private enterprises that has been used as feed for these corporate conglomerates. We have a system that is so lax that it has become acceptable for the mother to eat her young.

Investment Dictionary: Glass-Steagall Act

Federal law enacted by Congress in 1933 forcing a separation between commercial banking and investment banking. This act, which required commercial banks to dispose of their securities affiliates, bears the same name as the Banking Act of 1933, and is part of the landmark 1933 act. Since then, the name Glass-Steagall has been more commonly used when referring to the four sections of the banking act (Sections 16, 20, 21, and 32) pertaining to underwriting and sale of securities.

The late 1980s saw legislative barriers between banking and investment banking significantly eroded, as banks were granted more powers by banking regulators to deal in securities as both principal and agent for bank customers. Commercial banks own securities, broker-dealer and investment management firms, and mutual fund companies, and they act as investment advisors for municipal governments and corporations. Banks won Federal Reserve Board approval to underwrite commercial paper in 1987, and corporate equity securities and bonds in 1990 (through subsidiaries of bank holding companies). The Gramm-Leach-Bliley Act repealed the affiliation (Section 20) and management interlock (section 32) prohibitions of Glass-Steagall.

Other key provisions of the Glass-Steagall Act still remaining in effect are Section 16, prohibiting Federal Reserve Member Banks from directly underwriting securities, except for those of the U.S. Treasury and federal agencies, and the general obligations of state and municipal governments; and Section 21, prohibiting securities underwriters from accepting federally insured deposits.

 

[Meister]

Good survey Alice

 

[alice123]

Thamk you Meister!

 

[editec]

Alice, done. For what it is worth, the survey contains policy/theory bias.

It would be next to impossible to create a survey about this subject that did not, don't you think?

Deciding which questions to ask creates a bias, doesn't it?