Canon Shooter
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Home Depot Co Founder:"Biden Does Not Understand How Business Works"
- Thread starter Viktor
- Start date
Oldestyle
Diamond Member
A good businessman knows when to declare bankruptcy. Trump has run literally hundreds of businesses. Only the truly clueless would think they would all be successful and that for some of them to fail indicates a lack of business acumen on Trump's part! He succeeded in the New York City real estate market...a more cut throat...take no prisoners business climate would be hard to find ANYWHERE!Anyone can go
How pray tell does one go "bankrupt" when you're a US Senator? The answer to that is you can't! Joe Biden has been on the public dole for his entire adult life. He doesn't have a clue how the Private Sector works other than that they're good for payoffs if you've got a drug addict kid who can't hold down a regular job!And
Biden has never invested anything, so he could not suffer any losses. Are you aware that all businesses borrow, dumbo? I worked as an accountant for 30 years and each one of my employers had debt. Good Lord. Where did Forbes get that number? Trump owned a whole lot of different businesses all over the world. He did not manage all of them, so he could not possibly know at any one time how much they all owed. The ignorance I find here is appalling,True Biden has never bankrupted a casino and is not over one billion dollars in debt like Trump.
Donald Trump Has At Least $1 Billion In Debt, More Than Twice The Amount He Suggested
The president’s liabilities are spelled out in dozens of documents, published here.www.forbes.com
And Biden has never destroyed small contractors or casinos as Trump has, has never went bankrupt but diverted enough money into his own personal accounts as all who invested with him went down as Trump has.
Biden is not one billion dollars in hoch as Trump is.
Anyone can go bankrupt
.
Jefferson almost did, Lincoln did before becoming President, William McKinley did as governor and it almost ended his political career.
It does not make one a bad politician but when you do over and over as tactic to rip off your creditors, contractors and workers as Trump has it does make you a shit businessman and human being.
As for your other claim that anyone can go bankrupt? Name the last American politician to go bankrupt while they were a sitting US Senator or the Vice President!
Jake Winker Frogen
Platinum Member
- Apr 24, 2020
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LOL! Those are all cute stories but they come from the Liberal Lying media which hates Trump and anyone who does not agree with them politically. They spewed the same venom and lies atOh yes, all the media is lying, conservative, liberal, long established business journals, they are all lying.
Cult talk.
Trump's Atlantic City casino never got going really before he wrecked the place and ran with millions he awarded himself, by his own admission.
And it is over and over again, (he even ripped off the contractor who renovated the famous Central Park ice skating ring) the same story, the trail of evidence is clear, bankruptcies, leaving contractors, workers business partners high dry while he protects his loot and then tells the IRS he made no profit at all.
Fraud, legal suits to not pay up, shady dealings, bankruptcies.
Donald Trump’s history of corruption: a comprehensive review
His history of abusing power and betraying trust is deeply worrying for how he’d govern.www.vox.com
George Bush Sr, Richard Nixon and GW Bush. Hey, genius! When you make accusations, it helps to support them with evidence. If you don't , nobody will believe you.
Yes that is the cult chant, anything that contradicts the leader from any source be it media or science or life time experts in their fields are lying.
A cultivated ignorance, almost a glorification of it is one of the lasting legacies of the Trump Presidency.
Jake Winker Frogen
Platinum Member
- Apr 24, 2020
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A good businessman knows when to declare bankruptcy. Trump has run literally hundreds of businesses. Only the truly clueless would think they would all be successful and that for some of them to fail indicates a lack of business acumen on Trump's part! He succeeded in the New York City real estate market...a more cut throat...take no prisoners business climate would be hard to find ANYWHERE!Anyone can go
How pray tell does one go "bankrupt" when you're a US Senator? The answer to that is you can't! Joe Biden has been on the public dole for his entire adult life. He doesn't have a clue how the Private Sector works other than that they're good for payoffs if you've got a drug addict kid who can't hold down a regular job!And
Biden has never invested anything, so he could not suffer any losses. Are you aware that all businesses borrow, dumbo? I worked as an accountant for 30 years and each one of my employers had debt. Good Lord. Where did Forbes get that number? Trump owned a whole lot of different businesses all over the world. He did not manage all of them, so he could not possibly know at any one time how much they all owed. The ignorance I find here is appalling,True Biden has never bankrupted a casino and is not over one billion dollars in debt like Trump.
Donald Trump Has At Least $1 Billion In Debt, More Than Twice The Amount He Suggested
The president’s liabilities are spelled out in dozens of documents, published here.
And Biden has never destroyed small contractors or casinos as Trump has, has never went bankrupt but diverted enough money into his own personal accounts as all who invested with him went down as Trump has.
Biden is not one billion dollars in hoch as Trump is.
Anyone can go bankrupt
.
Jefferson almost did, Lincoln did before becoming President, William McKinley did as governor and it almost ended his political career.
It does not make one a bad politician but when you do over and over as tactic to rip off your creditors, contractors and workers as Trump has it does make you a shit businessman and human being.
As for your other claim that anyone can go bankrupt? Name the last American politician to go bankrupt while they were a sitting US Senator or the Vice President!
Trump used it as a tool to move his liabilities to his contractors, smaller creditors and not pay his workers time and time again.
A good businessman builds business that last, grow, and lift up everyone connected with it.
Jake Winker Frogen
Platinum Member
- Apr 24, 2020
- 1,544
- 601
- 928
I disagree. Lincoln, in my view, was incompetent and ruthless. He could have avoided all the death and destruction of the Civil War by being more patient with the Confederacy. 2/3 of the Civil War deaths were from disease. Lincoln could have stopped that with better sanitation and medical care.And this reveals one of the ideological flaws in so many Americans thought about politics and civilisation.
A good business will be a good political leader? That is a simplistic idea. A country is a civilisation not just a market and political leadership at the national level takes more skills that prosaic and paint by number business bean counting skills.
Lincoln was a bad businessman yet a great President.
Herbert Hoover was a good businessman and a shit President.
Carter good businessman but a failed President.
Trump on the other hand has been bad at both.
Do business leaders have any business being president? Available evidence says no - Salon.com
Trump isn't the first corporate type to veer into politics — but in an ignoble history, he's definitely the worstwww.salon.com
That damn war cost 600,000 lives and we gained nothing from it.
Herbert Hoover did the best he could with what he had. In 1929, nobody knew much about Economics and much of the Depression was beyond his control. Trump has been very good. with a booming economy and stockmarket and great treatment of minorities.
There are few historians that would agree with your Lincoln assessment, indeed had the Confederacy broke off the evidence of disfunction during the crises of war reveals it would not have held together in the long run. The likely future of the Confederacy would have been the various states breaking apart, perhaps fighting each other and with their limited export economy not evolving during the industrial revolution, wallowing in poverty and subject to predatory powers.
Hoover completely mismanaged the Great Depression. He showed no leadership or rhetorical skill in trying to give people hope, his reflexes were primitive, such as when he authorised the attack on the bonus marchers and he had absolutely no understanding of macro economics, that a global deflationary collapse required government stimulus.
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Jake Winker Frogen
Platinum Member
- Apr 24, 2020
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You do know that Apple and Google are publicly traded companies I assume.Lots of people own both Apple and Google.........................But like I said I own Apple and Google.I do not own Amazon..............................Welfare slobs like you are better off in denial........................No oil but I do own some Alibaba.You stay there in denialActually I bought Apple Google and Netflix while you bought beerTriggered idiots are my passionAnd no one in Trumps family took billions from ChinaTrue Biden has never bankrupted a casino and is not over one billion dollars in debt like Trump.
Donald Trump Has At Least $1 Billion In Debt, More Than Twice The Amount He Suggested
The president’s liabilities are spelled out in dozens of documents, published here.
"Hunter Biden was involved with the cross-border equity consortium in question, but the $1.5 billion was what the fund hoped to raise in 2014 for investments. It is not the value of the management company in which Hunter Biden now holds a minority share."
Trump's Claims About Hunter Biden in China - FactCheck.org
President Donald Trump has repeatedly accused Hunter Biden, without evidence, of making millions of dollars in a "payoff" from China, after accompanying his father, then-Vice President Joe Biden, on a 2013 diplomatic trip to Beijing.www.factcheck.org
As for Trump he has NOT done what no other President has done, put his finances in a blind trust and keeps earning foreign money as President. Including Turkey, who moved in to take territory from the Kurds when Trump betrayed them.
Trump's family did not take money from China, Trump did himself.
Trump earned $73 million in revenue from foreign business deals during his first two years in office, according to a review of the president's tax returns
President Donald Trump earned $US73 million in revenue from the Trump Organisation’s interests in foreign countries during the first two years of his presidency alone, a New York Times review of Trump’s tax returns showed.www.businessinsider.com.au
Before the Presidency Trump did borrow money from China.
But then he borrows from everyone.
Trump owed tens of millions to Bank of China
The president's financial dealings with the state-owned bank complicate his attacks on Biden.www.politico.com
Apparently research and political reality are not.
Enjoy welfare sucker
You do know eating an apple while you google is not investing right?
You also founded Alibaba with Jack Ma and drilled for oil with J. D. Rockefeller.
Does that bother you?
Bought it thru a 401k invested in emerging markets. Got tencent and Taiwan semi too
Also own a percent share of the Micex
You also bought Park Place on the Monopoly board but could not pull off Boardwalk.
Hey I think while you are posting here you may have missed a call from Jeff Bezos who wants your advise on expanding Amazon into a moon colony venture.
Wow, a moment of mental clarity.
How bout you
You own both of those companies?
Paging Doctor Freud, paging Doctor Freud we have a delusional relapse.
Yawn.
You and Elon Musk are also discussing your vacation to Mars.
No you might not.
Invest in Wonka bars
A PhD is a terrible thing to waste here.
But you continue on at will
It is a boring conversation, so of course I do not take it seriously. I do not care what you claim you invested in. I have investments too (indeed all working Australians do through superannuation) that adds nothing to this conversation.
It is like some kid with adults discussing the President, the kid jumps on and down saying "look at me, look at me I can ride a bike."
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Oldestyle
Diamond Member
A good businessman doesn't pay for shoddy work. Trump didn't.A good businessman knows when to declare bankruptcy. Trump has run literally hundreds of businesses. Only the truly clueless would think they would all be successful and that for some of them to fail indicates a lack of business acumen on Trump's part! He succeeded in the New York City real estate market...a more cut throat...take no prisoners business climate would be hard to find ANYWHERE!Anyone can go
How pray tell does one go "bankrupt" when you're a US Senator? The answer to that is you can't! Joe Biden has been on the public dole for his entire adult life. He doesn't have a clue how the Private Sector works other than that they're good for payoffs if you've got a drug addict kid who can't hold down a regular job!And
Biden has never invested anything, so he could not suffer any losses. Are you aware that all businesses borrow, dumbo? I worked as an accountant for 30 years and each one of my employers had debt. Good Lord. Where did Forbes get that number? Trump owned a whole lot of different businesses all over the world. He did not manage all of them, so he could not possibly know at any one time how much they all owed. The ignorance I find here is appalling,True Biden has never bankrupted a casino and is not over one billion dollars in debt like Trump.
Donald Trump Has At Least $1 Billion In Debt, More Than Twice The Amount He Suggested
The president’s liabilities are spelled out in dozens of documents, published here.
And Biden has never destroyed small contractors or casinos as Trump has, has never went bankrupt but diverted enough money into his own personal accounts as all who invested with him went down as Trump has.
Biden is not one billion dollars in hoch as Trump is.
Anyone can go bankrupt
.
Jefferson almost did, Lincoln did before becoming President, William McKinley did as governor and it almost ended his political career.
It does not make one a bad politician but when you do over and over as tactic to rip off your creditors, contractors and workers as Trump has it does make you a shit businessman and human being.
As for your other claim that anyone can go bankrupt? Name the last American politician to go bankrupt while they were a sitting US Senator or the Vice President!
Trump used it as a tool to move his liabilities to his contractors, smaller creditors and not pay his workers time and time again.
A good businessman builds business that last, grow, and lift up everyone connected with it.
I notice that you ducked my question about naming the last American politician to go bankrupt! You talk a lot of shit that you fail to back up.
Oldestyle
Diamond Member
As opposed to FDR's handling of The Great Depression? Amazing that previous global deflationary collapses rebounded despite a lack of "government stimulus", Jake! Did you want to take a crack at explaining how that could have possibly happened?I disagree. Lincoln, in my view, was incompetent and ruthless. He could have avoided all the death and destruction of the Civil War by being more patient with the Confederacy. 2/3 of the Civil War deaths were from disease. Lincoln could have stopped that with better sanitation and medical care.And this reveals one of the ideological flaws in so many Americans thought about politics and civilisation.
A good business will be a good political leader? That is a simplistic idea. A country is a civilisation not just a market and political leadership at the national level takes more skills that prosaic and paint by number business bean counting skills.
Lincoln was a bad businessman yet a great President.
Herbert Hoover was a good businessman and a shit President.
Carter good businessman but a failed President.
Trump on the other hand has been bad at both.
Do business leaders have any business being president? Available evidence says no - Salon.com
Trump isn't the first corporate type to veer into politics — but in an ignoble history, he's definitely the worst
That damn war cost 600,000 lives and we gained nothing from it.
Herbert Hoover did the best he could with what he had. In 1929, nobody knew much about Economics and much of the Depression was beyond his control. Trump has been very good. with a booming economy and stockmarket and great treatment of minorities.
There are few historians that would agree with your Lincoln assessment, indeed had the Confederacy broke off the evidence of disfunction during the crises of war reveals it would not have held together in the long run. The likely future of the Confederacy would have been the various states breaking apart, perhaps fighting each other and with their limited export economy not evolving during the industrial revolution, wallowing in poverty and subject to predatory powers.
Hoover completely mismanaged the Great Depression. He showed no leadership or rhetorical skill in trying to give people hope, his reflexes were primitive, such as when he authorised the attack on the bonus marchers and he had absolutely no understanding of macro economics, that a global deflationary collapse required government stimulus.
Jake Winker Frogen
Platinum Member
- Apr 24, 2020
- 1,544
- 601
- 928
A good businessman doesn't pay for shoddy work. Trump didn't.A good businessman knows when to declare bankruptcy. Trump has run literally hundreds of businesses. Only the truly clueless would think they would all be successful and that for some of them to fail indicates a lack of business acumen on Trump's part! He succeeded in the New York City real estate market...a more cut throat...take no prisoners business climate would be hard to find ANYWHERE!Anyone can go
How pray tell does one go "bankrupt" when you're a US Senator? The answer to that is you can't! Joe Biden has been on the public dole for his entire adult life. He doesn't have a clue how the Private Sector works other than that they're good for payoffs if you've got a drug addict kid who can't hold down a regular job!And
Biden has never invested anything, so he could not suffer any losses. Are you aware that all businesses borrow, dumbo? I worked as an accountant for 30 years and each one of my employers had debt. Good Lord. Where did Forbes get that number? Trump owned a whole lot of different businesses all over the world. He did not manage all of them, so he could not possibly know at any one time how much they all owed. The ignorance I find here is appalling,True Biden has never bankrupted a casino and is not over one billion dollars in debt like Trump.
Donald Trump Has At Least $1 Billion In Debt, More Than Twice The Amount He Suggested
The president’s liabilities are spelled out in dozens of documents, published here.
And Biden has never destroyed small contractors or casinos as Trump has, has never went bankrupt but diverted enough money into his own personal accounts as all who invested with him went down as Trump has.
Biden is not one billion dollars in hoch as Trump is.
Anyone can go bankrupt
.
Jefferson almost did, Lincoln did before becoming President, William McKinley did as governor and it almost ended his political career.
It does not make one a bad politician but when you do over and over as tactic to rip off your creditors, contractors and workers as Trump has it does make you a shit businessman and human being.
As for your other claim that anyone can go bankrupt? Name the last American politician to go bankrupt while they were a sitting US Senator or the Vice President!
Trump used it as a tool to move his liabilities to his contractors, smaller creditors and not pay his workers time and time again.
A good businessman builds business that last, grow, and lift up everyone connected with it.
I notice that you ducked my question about naming the last American politician to go bankrupt! You talk a lot of shit that you fail to back up.
Nice try, he borrowed too much and did not cost profit expectations competently and then stiffed everyone around him. This has been widely known and investigated long before he become President.
And he has done it time and time again.
Jake Winker Frogen
Platinum Member
- Apr 24, 2020
- 1,544
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As opposed to FDR's handling of The Great Depression? Amazing that previous global deflationary collapses rebounded despite a lack of "government stimulus", Jake! Did you want to take a crack at explaining how that could have possibly happened?I disagree. Lincoln, in my view, was incompetent and ruthless. He could have avoided all the death and destruction of the Civil War by being more patient with the Confederacy. 2/3 of the Civil War deaths were from disease. Lincoln could have stopped that with better sanitation and medical care.And this reveals one of the ideological flaws in so many Americans thought about politics and civilisation.
A good business will be a good political leader? That is a simplistic idea. A country is a civilisation not just a market and political leadership at the national level takes more skills that prosaic and paint by number business bean counting skills.
Lincoln was a bad businessman yet a great President.
Herbert Hoover was a good businessman and a shit President.
Carter good businessman but a failed President.
Trump on the other hand has been bad at both.
Do business leaders have any business being president? Available evidence says no - Salon.com
Trump isn't the first corporate type to veer into politics — but in an ignoble history, he's definitely the worst
That damn war cost 600,000 lives and we gained nothing from it.
Herbert Hoover did the best he could with what he had. In 1929, nobody knew much about Economics and much of the Depression was beyond his control. Trump has been very good. with a booming economy and stockmarket and great treatment of minorities.
There are few historians that would agree with your Lincoln assessment, indeed had the Confederacy broke off the evidence of disfunction during the crises of war reveals it would not have held together in the long run. The likely future of the Confederacy would have been the various states breaking apart, perhaps fighting each other and with their limited export economy not evolving during the industrial revolution, wallowing in poverty and subject to predatory powers.
Hoover completely mismanaged the Great Depression. He showed no leadership or rhetorical skill in trying to give people hope, his reflexes were primitive, such as when he authorised the attack on the bonus marchers and he had absolutely no understanding of macro economics, that a global deflationary collapse required government stimulus.
The "The Long Depression of 1873 to 1889 lasted 16 years had severe effects not seeing a recovery until 1896, that is 23 years. And it was stimulus that ended it, the Klondike Gold Rush pumped gold through the economy which the government purchased to stop deflation. Indeed when the depression first started the congress passed stimulus that would have stemmed it but Grant vetoed it thus like Hoover igniting a prolonged economic decline.
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Jake Winker Frogen
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Under Hoover things got worse and worse.
It is interesting to note one of the first countries to recover from the Great Depression was Nazi Germany. Hitler injected a tidal wave of stimulus into the economy (without nationalising industry) in military spending and national infrastructure works as well as mandating certain worker entitlements.
FDR stemmed the collapse and had employment rising significantly and economic growth with his New Deal spending but in 1937 on the advise Treasury Secretary Henry Morgenthau, FDR decided to tackle the country's exploding deficits. Over two years, FDR slashed government spending 17 percent. The country witnessed as a consequence growing unemployment again economic contraction, though not at the levels under Hoover.
It was the massive government stimulus spending ramping up and during World War Two that saw the economy recover, not an organic recovery form the private sector.
It is interesting to note one of the first countries to recover from the Great Depression was Nazi Germany. Hitler injected a tidal wave of stimulus into the economy (without nationalising industry) in military spending and national infrastructure works as well as mandating certain worker entitlements.
FDR stemmed the collapse and had employment rising significantly and economic growth with his New Deal spending but in 1937 on the advise Treasury Secretary Henry Morgenthau, FDR decided to tackle the country's exploding deficits. Over two years, FDR slashed government spending 17 percent. The country witnessed as a consequence growing unemployment again economic contraction, though not at the levels under Hoover.
It was the massive government stimulus spending ramping up and during World War Two that saw the economy recover, not an organic recovery form the private sector.
Oldestyle
Diamond Member
Would you like to explain what happened in 1920? Where was the "stimulus" there?As opposed to FDR's handling of The Great Depression? Amazing that previous global deflationary collapses rebounded despite a lack of "government stimulus", Jake! Did you want to take a crack at explaining how that could have possibly happened?I disagree. Lincoln, in my view, was incompetent and ruthless. He could have avoided all the death and destruction of the Civil War by being more patient with the Confederacy. 2/3 of the Civil War deaths were from disease. Lincoln could have stopped that with better sanitation and medical care.And this reveals one of the ideological flaws in so many Americans thought about politics and civilisation.
A good business will be a good political leader? That is a simplistic idea. A country is a civilisation not just a market and political leadership at the national level takes more skills that prosaic and paint by number business bean counting skills.
Lincoln was a bad businessman yet a great President.
Herbert Hoover was a good businessman and a shit President.
Carter good businessman but a failed President.
Trump on the other hand has been bad at both.
Do business leaders have any business being president? Available evidence says no - Salon.com
Trump isn't the first corporate type to veer into politics — but in an ignoble history, he's definitely the worst
That damn war cost 600,000 lives and we gained nothing from it.
Herbert Hoover did the best he could with what he had. In 1929, nobody knew much about Economics and much of the Depression was beyond his control. Trump has been very good. with a booming economy and stockmarket and great treatment of minorities.
There are few historians that would agree with your Lincoln assessment, indeed had the Confederacy broke off the evidence of disfunction during the crises of war reveals it would not have held together in the long run. The likely future of the Confederacy would have been the various states breaking apart, perhaps fighting each other and with their limited export economy not evolving during the industrial revolution, wallowing in poverty and subject to predatory powers.
Hoover completely mismanaged the Great Depression. He showed no leadership or rhetorical skill in trying to give people hope, his reflexes were primitive, such as when he authorised the attack on the bonus marchers and he had absolutely no understanding of macro economics, that a global deflationary collapse required government stimulus.
The "The Long Depression of 1873 to 1889 lasted 16 years had severe effects not seeing a recovery until 1896, that is 23 years. And it was stimulus that ended it, the Klondike Gold Rush pumped gold through the economy which the government purchased to stop deflation. Indeed when the depression first started the congress passed stimulus that would have stemmed it but Grant vetoed it thus like Hoover igniting a prolonged economic decline.
Oldestyle
Diamond Member
Are you claiming that Hoover didn't use massive amounts of government stimulus spending? Gee, Jake...ever hear of the Hoover Dam? How do you think that came to be built?
Jake Winker Frogen
Platinum Member
- Apr 24, 2020
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Hoover did not provide any serious relief until 1931 and even then he only created "the President’s Emergency Committee for Employment (PECE), later renamed the President’s Organization of Unemployment Relief (POUR). In keeping with Hoover’s distaste of what he viewed as handouts, this organization did not provide direct federal relief to people in need. Instead, it assisted state and private relief agencies, such as the Red Cross, Salvation Army, YMCA, and Community Chest. Hoover also strongly urged people of means to donate funds to help the poor, and he himself gave significant private donations to worthy causes. But these private efforts could not alleviate the widespread effects of poverty."
Then Congress "pushed for a more direct government response to the hardship. In 1930–1931, it attempted to pass a $60 million bill to provide relief to drought victims by allowing them access to food, fertilizer, and animal feed. Hoover stood fast in his refusal to provide food, resisting any element of direct relief."
Hoover did not authorise any significant spending until 1932 as the election neared and he could see the consequence of his economic failures.
Too little too late.
courses.lumenlearning.com
Then Congress "pushed for a more direct government response to the hardship. In 1930–1931, it attempted to pass a $60 million bill to provide relief to drought victims by allowing them access to food, fertilizer, and animal feed. Hoover stood fast in his refusal to provide food, resisting any element of direct relief."
Hoover did not authorise any significant spending until 1932 as the election neared and he could see the consequence of his economic failures.
Too little too late.
President Hoover’s Response | US History II (OS Collection)
courses.lumenlearning.com
77mil don’t care. He is a nice harmless man. Aka a corpse. And fits the new everyone gets a trophy world that leftists have created.
Oldestyle
Diamond Member
As for FDR having employment "rising significantly" with his New Deal spending? Have you ever heard of the term "job sharing", Jake? You might want to educate yourself on what it means and how FDR used it!
Jake Winker Frogen
Platinum Member
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The Hoover Dam was approved well before the Great Depression under Coolidge and was not a response to the depression, it was simply named after Hoover when construction actually began in 1930.
Not a very modest act but I guess Hoover needed some self esteem.
" On December 21, 1928, President Coolidge signed the bill authorizing the dam."
en.wikipedia.org
Not a very modest act but I guess Hoover needed some self esteem.
" On December 21, 1928, President Coolidge signed the bill authorizing the dam."
Hoover Dam - Wikipedia
Oldestyle
Diamond Member
Hoover did not provide any serious relief until 1931 and even then he only created "the President’s Emergency Committee for Employment (PECE), later renamed the President’s Organization of Unemployment Relief (POUR). In keeping with Hoover’s distaste of what he viewed as handouts, this organization did not provide direct federal relief to people in need. Instead, it assisted state and private relief agencies, such as the Red Cross, Salvation Army, YMCA, and Community Chest. Hoover also strongly urged people of means to donate funds to help the poor, and he himself gave significant private donations to worthy causes. But these private efforts could not alleviate the widespread effects of poverty."
Then Congress "pushed for a more direct government response to the hardship. In 1930–1931, it attempted to pass a $60 million bill to provide relief to drought victims by allowing them access to food, fertilizer, and animal feed. Hoover stood fast in his refusal to provide food, resisting any element of direct relief."
Hoover did not authorise any significant spending until 1932 as the election neared and he could see the consequence of his economic failures.
Too little too late.
President Hoover’s Response | US History II (OS Collection)
"The new Reconstruction Finance Corporation, established in January 1932, lent tax dollars to bail out American banks and businesses. The Emergency Relief and Construction Act, enacted in July 1932, broadened the agency’s lending power to include financing state and local public works projects.
Hoover also approved substantial farm subsidy increases, eased requirements for the issuing of Federal Reserve notes and established the Federal Home Loan Bank Board to support mortgages. In an attempt to pay for the new programs, Hoover signed the Revenue Act of 1932, which doubled the estate tax, hiked corporate tax rates and increased the top personal tax rate from 25 to 63 percent."
FDR ran against Hoover accusing him of out of control government spending! Do you REALLY want to argue American history with a American who majored in history?
Jake Winker Frogen
Platinum Member
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The labour statistics care clear from that time if you care to research.
/GettyImages-141786204-57a98ef45f9b58974af28940.jpg)
Compare Today's Unemployment with the Past
Compare the unemployment rate by year since 1929 to GDP, inflation, and economic events including fiscal and monetary policies.
BasicHumanUnit
Diamond Member
All I can say is....the moment Bidet takes the White House, the nation gets Flushed
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