Depressions And Recessions

[PoliticalChic]

In light of the Brexit upheaval and roiling of stock markets around the world, it behooves us to recall anniversary of sorts.....


1. Today, June 27, 1893
Crash of the New York Stock Exchange. Caused by railroad overbuilding and shaky railroad financing which set off a series of bank failures. Compounding market overbuilding and a railroad bubble was a run on the gold supply and a policy of using both gold and silver metals as a peg for the US Dollar value.
The Panic of 1893 was the worst economic crisis to hit the nation in its history to that point. One of the first signs of trouble was the bankruptcy of the Philadelphia and Reading Railroad, which had greatly over-extended itself, on February 23, 1893. Coxey's Army was a highly publicized march of unemployed men from Ohio and Pennsylvania to Washington to demand relief.
Panic of 1893 - Wikipedia, the free encyclopedia

a. "The depression of the 1890s did not fully abate until 1897."
Panic of 1893




2. What is most interesting is the length of time the problem resisted solution.....
Few ever speak of any depressions or recessions prior to the "Great Depression."
Know how many there were?
Over thirty.
List of recessions in the United States - Wikipedia, the free encyclopedia

a. "There have been as many as 47 recessions in the United States since 1790, although economists and historians dispute certain 19th-century recessions."
Zarnowitz, Victor, "Business Cycles: Theory, History, Indicators, and Forecasting," p. 221-226


Important point: almost none of them lasted over a year or two.





3. Without the unprecedented governmental mistakes of Herbert Hoover, and the copy-cat policies of Franklin Roosevelt, the hard times would have ended in two or three years at the most, and likely sooner than that. But massive political bungling instead prolonged the misery for over 10 years.
Unemployment in 1930 averaged a mildly recessionary 8.9 percent, up from 3.2 percent in 1929. It shot up rapidly until peaking out at more than 25 percent in 1933.
Great Myths of the Great Depression | Lawrence W. Reed


a. In 1931, in some of the darkest days of the Great Depression and the middle of the Hoover administration, unemployment rate stood at 17.4 %. Seven years later, after five years of FDR, and literally hundreds of wildly ambitious new government programs, more than doubling of federal spending, the national unemployment rate stood at – 17.4 %. At no point during the 1930’s did unemployment go below 14 %.
Michael Medved - How government expansion worsens hard times

b. Arthur Schlesinger, Jr., liberal New Deal historian wrote in The National Experience, in 1963, “Though the policies of the Hundred Days had ended despair, they had not produce recovery…” He also wrote honestly about the devastating crash of 1937- in the midst of the “second New Deal” and Roosevelt’s second term. “The collapse in the months after September 1937 was actually more severe than it had been in the first nine months of the depression: national income fell 13 %, payrolls 35 %, durable goods production 50 %, profits 78% .




Here's the salient query.....

....Why did Franklin Roosevelt insist on making the economic horror show last a decade?????

Why?

 

[william the wie]

Got to disagree. FDR and Hoover were too stupid to go to the great plains and see that the losses of herds, flocks, crops and equipment sales were catastrophic and failed to alleviate the situation caused by the 1930-9 drought/dustbowl. Instead they built dams and irrigation systems mostly outside the affected areas. Worse than a crime it was a blunder is the proper take on their idiocy.

 

[PoliticalChic]

Got to disagree. FDR and Hoover were too stupid to go to the great plains and see that the losses of herds, flocks, crops and equipment sales were catastrophic and failed to alleviate the situation caused by the 1930-9 drought/dustbowl. Instead they built dams and irrigation systems mostly outside the affected areas. Worse than a crime it was a blunder is the proper take on their idiocy.

Until Franklin Roosevelt- "No depression, or recession, had ever lasted even half this long."



Well, Willie......take a look at FDR's own promises when he was running....and what he did when elected:

1. The basis of FDR's 1932 campaign to win the presidency from Herbert Hoover was his emphatic promise to the suffering American people, that he would balance the budget. Of course, he also promised that he would use the government to create jobs, and that they "had a right to a comfortable living."
FDR’s Commonwealth Club Address


2. Roosevelt went further! The cause: "It arises from one cause only and that is the unbalanced budget at he continued failure of this administration to take effective steps to balance it!
If that budget had been fully and honestly balanced in 1930, some of the 1931 troubles would have been avoided. Even if it had been balanced in 1931, much of the extreme dip in 1932 would have been obviated. Every financial man in the country knows why this is true." http://www.presidency.ucsb.edu/ws/?pid=88399

a. And this: "... carrying out the plain precept of our Party, which is to reduce the cost of current Federal Government operations by 25 percent." Ibid.

FDR's promises!!!

And.....the very same plan that Harding used to tame an earlier upheaval.
And it worked.


3. ....to begin with, in March of 1933, he didn't fill his cabinet with persons committed to a balanced budget. A pretty much poke 'in your eye.'
Nah....instead the bunch put together the huge spending and administrative expansion of his first hundred day, Douglas knew the real deal.
. Roosevelt expanded the federal government and ran up deficits much greater than those of Hoover.

 

[PoliticalChic]

Here's the salient query.....

....Why did Franklin Roosevelt insist on making the economic horror show last a decade?????

Why?

 

[Mr Natural]

....Why did Franklin Roosevelt insist on making the economic horror show last a decade?????

Why?

To give his good buddies Hitler, Stalin, and Tojo the opportunity to get a leg up of course.

 

[PoliticalChic]

....Why did Franklin Roosevelt insist on making the economic horror show last a decade?????

Why?

To give his good buddies Hitler, Stalin, and Tojo the opportunity to get a leg up of course.

If you are capable....how about you actually try to think the question through the filter of the facts that I have provided.....

....FDR's own words, and promises....

...and see if you can explain his behavior.


Or...has government schooling deprived you of the ability to think.

 

[Mr Natural]

....Why did Franklin Roosevelt insist on making the economic horror show last a decade?????

Why?

To give his good buddies Hitler, Stalin, and Tojo the opportunity to get a leg up of course.

If you are capable....how about you actually try to think the question through the filter of the facts that I have provided.....

....FDR's own words, and promises....

...and see if you can explain his behavior.


Or...has government schooling deprived you of the ability to think.

And here I am trying to inject some levity into yet another one of her rants and all she can in response is hurl out the insults.

What an asshole!

 

[Rshermr]

Or...has government schooling deprived you of the ability to think.[/QUOTE] [/QUOTE]

And here I am trying to inject some levity into yet another one of her rants and all she can in response is hurl out the insults.

What an asshole.

The poor boy (pretending to be female) is pathetic. Just a con troll. And like all cons, she has all the talking points from the nut cas con web sites. And that is about it. What she says is stupid, and easy to refute. But she has the standard con thought process. It takes seconds to make accusations, but always minutes to refute them

The really funny part to me is that there have been three major recessions and depressions this decade. All under republican presidents. But they are never the republicans fault. Because, after all, republicans do not have the integrity to accept their own mistakes.

 

[PoliticalChic]

....Why did Franklin Roosevelt insist on making the economic horror show last a decade?????

Why?

To give his good buddies Hitler, Stalin, and Tojo the opportunity to get a leg up of course.

If you are capable....how about you actually try to think the question through the filter of the facts that I have provided.....

....FDR's own words, and promises....

...and see if you can explain his behavior.


Or...has government schooling deprived you of the ability to think.

And here I am trying to inject some levity into yet another one of her rants and all she can in response is hurl out the insults.

What an asshole!

Another dodge by a Liberal.

So.....we have discovered that you really can't find any error in the OP.....but you have the perpetual need to show what a good Liberal you are.

 

[PoliticalChic]

Or...has government schooling deprived you of the ability to think.

[/QUOTE]

And here I am trying to inject some levity into yet another one of her rants and all she can in response is hurl out the insults.

What an asshole.

The poor boy (pretending to be female) is pathetic. Just a con troll. And like all cons, she has all the talking points from the nut cas con web sites. And that is about it. What she says is stupid, and easy to refute. But she has the standard con thought process. It takes seconds to make accusations, but always minutes to refute them

The really funny part to me is that there have been three major recessions and depressions this decade. All under republican presidents. But they are never the republicans fault. Because, after all, republicans do not have the integrity to accept their own mistakes.[/QUOTE]



1. The basis of FDR's 1932 campaign to win the presidency from Herbert Hoover was his emphatic promise to the suffering American people, that he would balance the budget.Of course, he also promised that he would use the government to create jobs, and that they "had a right to a comfortable living."
FDR’s Commonwealth Club Address


2. Roosevelt went further! The cause: "It arises from one cause only and that is the unbalanced budget at he continued failure of this administration to take effective steps to balance it!
If that budget had been fully and honestly balanced in 1930, some of the 1931 troubles would have been avoided. Even if it had been balanced in 1931, much of the extreme dip in 1932 would have been obviated. Every financial man in the country knows why this is true." Franklin D. Roosevelt: Campaign Address on the Federal Budget at Pittsburgh, Pennsylvania

a. And this: "... carrying out the plain precept of our Party, which is to reduce the cost of current Federal Government operations by 25 percent." Ibid.

FDR's promises!!!

And.....the very same plan that Harding used to tame an earlier upheaval.
And it worked.


3. ....to begin with, in March of 1933, he didn't fill his cabinet with persons committed to a balanced budget. A pretty much poke 'in your eye.'
Nah....instead the bunch put together the huge spending and administrative expansion of his first hundred day,....
. Roosevelt expanded the federal government and ran up deficits much greater than those of Hoover.



How about it, worm.....

.....any errors in my post?

 

[regent]

Until FDR, the supposed cure for recession/depressions was to balance the budget, so how did balancing the budget cure those economic problems?
The balanced- budget cure is still the belief of many, yet today, both Republicans and Democrats seem to lean toward Keynes.

 

[PoliticalChic]

Until FDR, the supposed cure for recession/depressions was to balance the budget, so how did balancing the budget cure those economic problems?
The balanced- budget cure is still the belief of many, yet today, both Republicans and Democrats seem to lean toward Keynes.

1. He never balanced the budget.....contrary to his vociferous promises....

.... in March of 1933, he didn't fill his cabinet with persons committed to a balanced budget. A pretty much poke 'in your eye.'
Nah....instead the bunch put together the huge spending and administrative expansion of his first hundred day, Douglas knew the real deal.
. Roosevelt expanded the federal government and ran up deficits much greater than those of Hoover.


2. "There have been as many as 47 recessions in the United States since 1790, although economists and historians dispute certain 19th-century recessions."
Zarnowitz, Victor, "Business Cycles: Theory, History, Indicators, and Forecasting," p. 221-226


Important point: almost none of them lasted over a year or two.



3. Here's the salient query.....

....Why did Franklin Roosevelt insist on making the economic horror show last a decade?????

Why?




I know why.....

.....don't you?

 

[regent]

Until FDR, the supposed cure for recession/depressions was to balance the budget, so how did balancing the budget cure those economic problems?
The balanced- budget cure is still the belief of many, yet today, both Republicans and Democrats seem to lean toward Keynes.

1. He never balanced the budget.....contrary to his vociferous promises....

.... in March of 1933, he didn't fill his cabinet with persons committed to a balanced budget. A pretty much poke 'in your eye.'
Nah....instead the bunch put together the huge spending and administrative expansion of his first hundred day, Douglas knew the real deal.
. Roosevelt expanded the federal government and ran up deficits much greater than those of Hoover.


2. "There have been as many as 47 recessions in the United States since 1790, although economists and historians dispute certain 19th-century recessions."
Zarnowitz, Victor, "Business Cycles: Theory, History, Indicators, and Forecasting," p. 221-226


Important point: almost none of them lasted over a year or two.



3. Here's the salient query.....

....Why did Franklin Roosevelt insist on making the economic horror show last a decade?????

Why?




I know why.....

.....don't you?

Nope, tell me, but none of that sick slapping around.

 

[PoliticalChic]

Until FDR, the supposed cure for recession/depressions was to balance the budget, so how did balancing the budget cure those economic problems?
The balanced- budget cure is still the belief of many, yet today, both Republicans and Democrats seem to lean toward Keynes.

1. He never balanced the budget.....contrary to his vociferous promises....

.... in March of 1933, he didn't fill his cabinet with persons committed to a balanced budget. A pretty much poke 'in your eye.'
Nah....instead the bunch put together the huge spending and administrative expansion of his first hundred day, Douglas knew the real deal.
. Roosevelt expanded the federal government and ran up deficits much greater than those of Hoover.


2. "There have been as many as 47 recessions in the United States since 1790, although economists and historians dispute certain 19th-century recessions."
Zarnowitz, Victor, "Business Cycles: Theory, History, Indicators, and Forecasting," p. 221-226


Important point: almost none of them lasted over a year or two.



3. Here's the salient query.....

....Why did Franklin Roosevelt insist on making the economic horror show last a decade?????

Why?




I know why.....

.....don't you?

Nope, tell me, but none of that sick slapping around.

".....none of that sick slapping around...."

OMG!
Exactly what Coulter has written about Liberals...
"The mob mentality is irresistible to people with a desperate need to be popular, and are perennially afraid of getting a bloody nose on the playground of life."



So sorry, you poor fearful thing...

Welcome to the karma cafe....there are no menus but you will get what you deserve.

 

[PoliticalChic]

....Why did Franklin Roosevelt insist on making the economic horror show last a decade?????

Why?




I know why.....

.....don't you?



How about you exercise that organ of yours that is in sore danger of atrophy....your cerebrum.

C'mon, now......since FDR stated the problems and what the solution of Hoover's economic dilemma was before the election.....
....come up with an explanation as to why he actually doubled down on what he claimed was the problem.



And remember this, ...
Franklin Roosevelt's Treasury Secretary Henry Morgenthau confessed that the "New Deal" was a failure in sworn testimony before Congress on May 9, 1939.

"We have tried spending money. We are spending more than we have ever spent before and it does not work."

And FDR's Treasury Secretary also told Congress:

"I say after eight years of this Administration we have just as much unemployment as when we started. ... And an enormous debt to boot!" (See: Human Events Get Over It: New Deal Didn't Do the Job | Human Events and The Heritage Foundation 'We're Spending More Than Ever and It Doesn't Work'.)



Can't do it......can you.
You can't tell the truth.

 

[regent]

....Why did Franklin Roosevelt insist on making the economic horror show last a decade?????

Why?




I know why.....

.....don't you?



How about you exercise that organ of yours that is in sore danger of atrophy....your cerebrum.

C'mon, now......since FDR stated the problems and what the solution of Hoover's economic dilemma was before the election.....
....come up with an explanation as to why he actually doubled down on what he claimed was the problem.



And remember this, ...
Franklin Roosevelt's Treasury Secretary Henry Morgenthau confessed that the "New Deal" was a failure in sworn testimony before Congress on May 9, 1939.

"We have tried spending money. We are spending more than we have ever spent before and it does not work."

And FDR's Treasury Secretary also told Congress:

"I say after eight years of this Administration we have just as much unemployment as when we started. ... And an enormous debt to boot!" (See: Human Events Get Over It: New Deal Didn't Do the Job | Human Events and The Heritage Foundation 'We're Spending More Than Ever and It Doesn't Work'.)



Can't do it......can you.
You can't tell the truth.

Morgenthau was a fiscal conservative and he disagreed with FDR on the budget, but others in the cabinet agreed with FDR. When the 37 slump came Morgenthau advocated more spending to FDR saying "If 250 million will stop this downward trend it's cheap." In any case the people of FDR's period time elected FDR four times for a record that may stand as long as America.

 

[PoliticalChic]

....Why did Franklin Roosevelt insist on making the economic horror show last a decade?????

Why?




I know why.....

.....don't you?



How about you exercise that organ of yours that is in sore danger of atrophy....your cerebrum.

C'mon, now......since FDR stated the problems and what the solution of Hoover's economic dilemma was before the election.....
....come up with an explanation as to why he actually doubled down on what he claimed was the problem.



And remember this, ...
Franklin Roosevelt's Treasury Secretary Henry Morgenthau confessed that the "New Deal" was a failure in sworn testimony before Congress on May 9, 1939.

"We have tried spending money. We are spending more than we have ever spent before and it does not work."

And FDR's Treasury Secretary also told Congress:

"I say after eight years of this Administration we have just as much unemployment as when we started. ... And an enormous debt to boot!" (See: Human Events Get Over It: New Deal Didn't Do the Job | Human Events and The Heritage Foundation 'We're Spending More Than Ever and It Doesn't Work'.)



Can't do it......can you.
You can't tell the truth.

Morgenthau was a fiscal conservative and he disagreed with FDR on the budget, but others in the cabinet agreed with FDR. When the 37 slump came Morgenthau advocated more spending to FDR saying "If 250 million will stop this downward trend it's cheap." In any case the people of FDR's period time elected FDR four times for a record that may stand as long as America.

Hmmm......you've been asked twice now, to connect these dots.....
...dots which I have documented to be accurate and correct.....

Let's give you one more chance.

1. FDR ran for President with this explanation of the Hoover economic upheaval..
a. The basis of FDR's 1932 campaign to win the presidency from Herbert Hoover was his emphatic promise to the suffering American people, that he would balance the budget.
FDR’s Commonwealth Club Address

b. The part about balancing the budget had a certain resonance as President Harding had veered sharply away from federal spending and solved as big a recession in about one year. Certainly Franklin Roosevelt knew this, as he hammered away at Hoover's spending.

c. October 19, 1932, he nailed Hoover, observing that in recent years federal expenses had increased by $1 billion "and that I may add, is the most reckless and extravagant past that I have been able to discover in the statistical record of any peacetime Government anywhere, any time." Franklin D. Roosevelt: Campaign Address on the Federal Budget at Pittsburgh, Pennsylvania

d. Roosevelt went further! The cause: "It arises from one cause only and that is the unbalanced budget at he continued failure of this administration to take effective steps to balance it! If that budget had been fully and honestly balanced in 1930, some of the 1931 troubles would have been avoided. Even if it had been balanced in 1931, much of the extreme dip in 1932 would have been obviated. Every financial man in the country knows why this is true." Franklin D. Roosevelt: Campaign Address on the Federal Budget at Pittsburgh, Pennsylvania

And this: "... carrying out the plain precept of our Party, which is to reduce the cost of current Federal Government operations by 25 percent." Ibid.


2. ....he went on to vow that everyone he selects for his cabinet had to pledge absolute fealty to a balanced budget and a 25% across-the-board cut in government spending.



3. Review?
Harding cut spending and cured a similar recession in 1 and a half years.

FDR claimed every economist knew that government spending was the problem

FDR promised to balance the budget, cut spending by 25%...and would make everyone in his cabinet promise to support the 25% cuts...


Instead...

4. .... in March of 1933, he didn't fill his cabinet with persons committed to a balanced budget. A pretty much poke 'in your eye.'


a. Nah....instead the bunch put together the huge spending and administrative expansion of his first hundred day, Douglas knew the real deal.


b. Roosevelt expanded the federal government and ran up deficits much greater than those of Hoover.

Result:
A depression that lasted more than twice as long as any previous (there had been almost 50 previous recessions/depressions)...

Here's the salient query.....

....Why did Franklin Roosevelt insist on making the economic horror show last a decade?????

Why?



Now....try to break out of your pattern of obfuscations and lies.....and answer the question.




I know why.....do you?

 

[regent]

We had three Republican presidents in a row, none of three seemed able to see the depression coming, much less the cause, prevention and cure. The old saw, prosperity is just around the corner didn't work.
FDR said he would try new things and he did. When the smoke cleared, we discovered that FDR had not spent enough on the cure, it took war time spending.

 

[Rshermr]

Or...has government schooling deprived you of the ability to think.

And here I am trying to inject some levity into yet another one of her rants and all she can in response is hurl out the insults.

What an asshole.

The poor boy (pretending to be female) is pathetic. Just a con troll. And like all cons, she has all the talking points from the nut cas con web sites. And that is about it. What she says is stupid, and easy to refute. But she has the standard con thought process. It takes seconds to make accusations, but always minutes to refute them

The really funny part to me is that there have been three major recessions and depressions this decade. All under republican presidents. But they are never the republicans fault. Because, after all, republicans do not have the integrity to accept their own mistakes.[/QUOTE]



1. The basis of FDR's 1932 campaign to win the presidency from Herbert Hoover was his emphatic promise to the suffering American people, that he would balance the budget.Of course, he also promised that he would use the government to create jobs, and that they "had a right to a comfortable living."
FDR’s Commonwealth Club Address
FDR did indeed suggest he would try to balance the budget. But it was far from an emphatic promise. But then as a con troll, you used a source that no serious person would use. Heritage, as you well know, is a bat shit crazy con web site. Maybe I should get a quote or two from moveon.org. Nah. I have integrity. You should look the term up.
What, me poor ignorant con troll, did you think that balancing the budget would do for the 25% unemployment rate that republicans had left him with the Great Republican Depression of 1929? No way should he have tried to balance the budget. What was needed was stimulus. And stimulus does not help balance the budget.
But then, you have shown yourself to be an economic idiot.


2. Roosevelt went further! The cause: "It arises from one cause only and that is the unbalanced budget at he continued failure of this administration to take effective steps to balance it!
If that budget had been fully and honestly balanced in 1930, some of the 1931 troubles would have been avoided. Even if it had been balanced in 1931, much of the extreme dip in 1932 would have been obviated. Every financial man in the country knows why this is true." Franklin D. Roosevelt: Campaign Address on the Federal Budget at Pittsburgh, Pennsylvania

a. And this: "... carrying out the plain precept of our Party, which is to reduce the cost of current Federal Government operations by 25 percent." Ibid.

FDR's promises!!!

And.....the very same plan that Harding used to tame an earlier upheaval.
And it worked.
Harding had no real problem. You see, 25% unemployment is a horrific problem. Harding had nothing close.


3. ....to begin with, in March of 1933, he didn't fill his cabinet with persons committed to a balanced budget. A pretty much poke 'in your eye.'
Nah....instead the bunch put together the huge spending and administrative expansion of his first hundred day,....
. Roosevelt expanded the federal government and ran up deficits much greater than those of Hoover.
You are simply proving your stupidity. Deficits always happen when you have unemployment over 8%, and the Repulicans had managed to run the ue rate from 4.5% in 1929 to over 25% when FDR took over. Again, you are proving your ignorance suggesting that balancing the budget was of any help or concern in that situation. And you are, indeed, stupid when it comes to economics.

How about it, worm.....

.....any errors in my post?
Just plain stupidity, bitch. Which you are noted for.

Excuse the language, but I always call people who call me a worm exactly what they are. In your case, that would be a bitch. Nothing personal, it is simply what you are. Actually, a really stupid bat shit crazy con troll bitch covers it better.

 

[regent]

FDR said he was going to experiment, try new things and he did. Not every idea worked but he kept trying. people were hungry just as in Hoover's term and it was the charities and states that Hoover used to handle the hunger issue. But the states were out of money. Another issue as people went to the bank to draw out money they would find the bank closed, some never to reopen. Life savings gone forever. FDR began by trying to solve problems and he tried with various programs, some of which we still use.
Maybe the Great Depression is one of those periods in history that have to be lived through to understand?