Pumpkin Row
Platinum Member
- May 26, 2016
- 5,692
- 2,811
- 1,095
- Thread starter
- #341
When FDR took office, he was the one that caused the mass panic that made everything worse by declaring the banking holiday, forcing banks to close their doors for months while the government inspected them all.Your post and claim is complete bullcrap only an uneducated fool could make. When FDR was inaugurated into the Presidency unemployment was over 30% and hundreds of banks had gone broke and closed their doors leaving funds unavailable and lost to depositors. What kind of jerk would call that a recession? In other words, the banks being broke prevented people from getting their cash out of the bank. Referring to 1933 USA as being in a recession instead of a depression is jackassery or outright lying.The beginning of "the Great Depression" was a recession, which only became a Depression when FDR decided to screw things up more. Don't hurt yourself too much pretending to think about it.Are you seriously claiming the period from 1929 through 1933 was a recession and not a depression? Kind of goofy since you also claim the crash of '29 was a "symptom" of the Grear Depression but call it a recession in '33.FDR's policies prolonged Depression by 7 years, UCLA economists calculateThere's no hurry on figuring out those dates. I understand it may take some research. Especially with blinders on.
Perhaps a visual aid will help. Note the years listed on the bottom axis:
Oh look --- there's one of the dates I mentioned right there on the chart. That's a clue for ya.
So are these numbers "fake"?
See that spike at the right edge of the pink area? The one marked "March 15, 1933 Dow gained 15.34%, largest one-day gain")?
That point would be eleven days after FDR was inaugurated.
Now look at the plunge marked "Great Depression" (the pink area) and essplain to the class how Roosevelt came into office and "brought" that retroactively.
This oughta be a hoot.
The Stock Crash is a symptom, not a cause of the Great Depression, so the chart doesn't help your case at all.
How FDR Made the Depression Worse | Robert Higgs
FDR's policies, practically all of them, increased the cost of living and made it harder to do business. He made the Recession we were already experiencing worse in every way.
As I said earlier, combine inability to afford hiring employees with the government forcing your business to hire more employees, and your economy is destroyed. In this particular case, your economy is plunged into a Depression and then dragged through it for many years.
I'd also like to point out that it wasn't 30%, it was around 20%.