The Great Depression - why did it end?

[Truthmatters]

File:Gdp20-40.jpg - Wikipedia, the free encyclopedia

Look at this chart and you will see the new deals effects


This chart represents the facts.

Now tell me why did it start to improve and why did it fall back durring 1937?

can you answer?

give it a try

 

[Midnight Marauder]

The gold standard did not cause the Great Depression, the "gold standard" at the time was a bastardized gold standard...

Great Britain's obstinate return to pre-WW1 gold standard is generally considered, in non-partisan economist circles, as the catalyst for the Great Depression. There is no rational comparison between the 30s economic downturn and today's, only dishonest ones.

 

[Midnight Marauder]

The one who is spouting partisan hackery is you.

FDRs actions during the great depression was credited by the people who lived it as well as the vast majority of historians for pulling us out of the great depression.

You are trying to rewrite history and you have failed.

FDR was an outstanding con man. Even The Obama knows this. He said so himself: "What you see in FDR that I hope my team can emulate is, not always getting it right, but projecting a sense of confidence." That's what FDR did, projected a sense of confidence. While he was screwing up royally and making the depression worse, the folks loved him. "Projecting a sense of confidence" is what all con men do, that's why they're called that.

 

[editec]

I guess technically this is history, but its so relevant to now I thought it best here.


Now that we're already into this recession, there's no point to playing the blame game any more. Especially when there is plenty of blame to be heaped on both sides.

The real question now, is how do we fix it?

Let's look to history.


The Great Depression - for what reasons did it end?

Jusdging from the stock market it ended about 1955.

That is, (I think couldn't been 56 or something), the year that the market finally achieved it's 1929 high value.

Why did it end?

Because America was in the catbird seat (Europe and Asia were still recovering) and because of things like the GI bill which gave returning vets education AND housing.

So we had the majority of the earth's intact industry, we could sell products to everyone on earth, the rich were being soaked at 90% to pay for the war debts, too; there was HUGE unrealized demand for consumer goods and a lot of people had tucked away enough money (in the form of war bonds) so they could start spending again.

Basically, the CONSUMING CLASS had a high percentage of the liquid capital, which cause demand thus making suppliers very happy.

It was the victuous cycle of a capitalistic economy.

 

[Kevin_Kennedy]

The gold standard did not cause the Great Depression, the "gold standard" at the time was a bastardized gold standard...

Great Britain's obstinate return to pre-WW1 gold standard is generally considered, in non-partisan economist circles, as the catalyst for the Great Depression. There is no rational comparison between the 30s economic downturn and today's, only dishonest ones.

I didn't say there was a rational comparison between todays recession and the Great Depression, I said that the Fed caused both. Great Britain's return to the "gold standard" didn't work because they didn't deflate their money supply, and they overvalued their money supply.

What Has Government Done to Our Money? The Gold Exchange Standard (Britain and the U.S.) 1926-1931

 

[Midnight Marauder]

The gold standard did not cause the Great Depression, the "gold standard" at the time was a bastardized gold standard...

Great Britain's obstinate return to pre-WW1 gold standard is generally considered, in non-partisan economist circles, as the catalyst for the Great Depression. There is no rational comparison between the 30s economic downturn and today's, only dishonest ones.

I didn't say there was a rational comparison between todays recession and the Great Depression, I said that the Fed caused both. Great Britain's return to the "gold standard" didn't work because they didn't deflate their money supply, and they overvalued their money supply.

What Has Government Done to Our Money? The Gold Exchange Standard (Britain and the U.S.) 1926-1931

It was the major catalyst for the depression. According to most economists. Historians however, disagree.

 

[Kevin_Kennedy]

Great Britain's obstinate return to pre-WW1 gold standard is generally considered, in non-partisan economist circles, as the catalyst for the Great Depression. There is no rational comparison between the 30s economic downturn and today's, only dishonest ones.

I didn't say there was a rational comparison between todays recession and the Great Depression, I said that the Fed caused both. Great Britain's return to the "gold standard" didn't work because they didn't deflate their money supply, and they overvalued their money supply.

What Has Government Done to Our Money? The Gold Exchange Standard (Britain and the U.S.) 1926-1931

It was the major catalyst for the depression. According to most economists. Historians however, disagree.

That doesn't mean it was a genuine gold standard, as I said before it was no more than a bastardized gold standard.

 

[Truthmatters]

The one who is spouting partisan hackery is you.

FDRs actions during the great depression was credited by the people who lived it as well as the vast majority of historians for pulling us out of the great depression.

You are trying to rewrite history and you have failed.

FDR was an outstanding con man. Even The Obama knows this. He said so himself: "What you see in FDR that I hope my team can emulate is, not always getting it right, but projecting a sense of confidence." That's what FDR did, projected a sense of confidence. While he was screwing up royally and making the depression worse, the folks loved him. "Projecting a sense of confidence" is what all con men do, that's why they're called that.

Nothing but patisan blather.

No one is buying that crap but the right wing nut bags.

 

[Midnight Marauder]

The one who is spouting partisan hackery is you.

FDRs actions during the great depression was credited by the people who lived it as well as the vast majority of historians for pulling us out of the great depression.

You are trying to rewrite history and you have failed.

FDR was an outstanding con man. Even The Obama knows this. He said so himself: "What you see in FDR that I hope my team can emulate is, not always getting it right, but projecting a sense of confidence." That's what FDR did, projected a sense of confidence. While he was screwing up royally and making the depression worse, the folks loved him. "Projecting a sense of confidence" is what all con men do, that's why they're called that.

Nothing but patisan blather.

No one is buying that crap but the right wing nut bags.

It's not partisan, it's just the terrible, inconvenient, unpalatable truth. The revisionist historians are the ones who now champion FDR because it suits their political agenda. Before this, trumpeting JFK suited a political agenda. See how neat that works? Dumbasses buy it almost every time! Dumbass dupes, or "marks" in the con man lexicon.

 

[Said1]

Doubling the reserve ratio caused the '37 recession.

 

[Truthmatters]

FDR was an outstanding con man. Even The Obama knows this. He said so himself: "What you see in FDR that I hope my team can emulate is, not always getting it right, but projecting a sense of confidence." That's what FDR did, projected a sense of confidence. While he was screwing up royally and making the depression worse, the folks loved him. "Projecting a sense of confidence" is what all con men do, that's why they're called that.

Nothing but patisan blather.

No one is buying that crap but the right wing nut bags.

It's not partisan, it's just the terrible, inconvenient, unpalatable truth. The revisionist historians are the ones who now champion FDR because it suits their political agenda. Before this, trumpeting JFK suited a political agenda. See how neat that works? Dumbasses buy it almost every time! Dumbass dupes, or "marks" in the con man lexicon.

and you chatter on and on.

The economists are split straight down teh middle on it and the people who lived it LOVED FDR as well as Historians who run about 3/4th for FDR.

You are claiming something as fact when it is partisan blather that he harmed the economy.

It is you who are revising history for your partisan view.

 

[Truthmatters]

Recession of 1937 - Wikipedia, the free encyclopedia

here you go said 1


but many of the causes show that because the New Deal involved spending money from the Federal budget, President Roosevelt had to end New Deal spending, and thus programs, as a result.

 

[Annie]

After six years of infusing huge sums of federal money into the economy via the Works Progress Administration, the Tennessee Valley Authority and the Civilian Conservation Corps, among others, FDR’s Secretary of the Treasury Henry Morgenthau had this to say:
“We have tried spending money, we are spending more than we have ever spent before and it does not work . . . We have never made good on our promises . . . I say after eight years of this Administration we have just as much unemployment as when we started . . . And an enormous debt to boot!”

That was May 1939. The unemployment rate hovered around 20%. Do we really want to repeat the same mistakes?”

Is this what we want?

 

[Truthmatters]

Not going to pay attention to what I just posted?

He started with a 25% unemployment BTW.

 

[Truthmatters]

Recession of 1937 - Wikipedia, the free encyclopedia

here you go said 1


but many of the causes show that because the New Deal involved spending money from the Federal budget, President Roosevelt had to end New Deal spending, and thus programs, as a result.

Background
By 1936, all the main economic indicators had regained the levels of the late 1920s, except for unemployment, which remained high, although it was considerably lower than the 25% unemployment rate seen in 1933. In 1937, the American economy took an unexpected downturn, lasting through most of 1938. Production declined sharply, as did profits and employment. Unemployment jumped from 14.3% in 1937 to 19.0% in 1938. In two months, unemployment rose from 5 million to over 9 million, reaching almost 12 million in early 1938. Manufacturing output fell off by 40% from the 1937 peak; it was back to 1934 levels. Producers reduced their expenditures on durable goods, and inventories declined, but personal income was only 15% lower than it had been at the peak in 1937. In most sectors hourly earnings continued to rise throughout the recession, which partly compensated for the reduction in the number of hours worked. As unemployment rose, consumers' expenditures declined, leading to further cutbacks in production.

 

[Truthmatters]

Now realize FDR was unable to keep the spending at the current levels for the year 1937.

Guess why the recovering economy faltered and the unemployment nearly doubled in two months?

 

[DiveCon]

Recession of 1937 - Wikipedia, the free encyclopedia

here you go said 1


but many of the causes show that because the New Deal involved spending money from the Federal budget, President Roosevelt had to end New Deal spending, and thus programs, as a result.

you are totally cluelless
not only on this, but on just about everything

 

[Gunny]

Nothing but patisan blather.

No one is buying that crap but the right wing nut bags.

It's not partisan, it's just the terrible, inconvenient, unpalatable truth. The revisionist historians are the ones who now champion FDR because it suits their political agenda. Before this, trumpeting JFK suited a political agenda. See how neat that works? Dumbasses buy it almost every time! Dumbass dupes, or "marks" in the con man lexicon.

and you chatter on and on.

The economists are split straight down teh middle on it and the people who lived it LOVED FDR as well as Historians who run about 3/4th for FDR.

You are claiming something as fact when it is partisan blather that he harmed the economy.

It is you who are revising history for your partisan view.

Going to write your own version of history in this thread too? Get over yourself, huh? You're full of shit.

 

[DiveCon]

It's not partisan, it's just the terrible, inconvenient, unpalatable truth. The revisionist historians are the ones who now champion FDR because it suits their political agenda. Before this, trumpeting JFK suited a political agenda. See how neat that works? Dumbasses buy it almost every time! Dumbass dupes, or "marks" in the con man lexicon.

and you chatter on and on.

The economists are split straight down teh middle on it and the people who lived it LOVED FDR as well as Historians who run about 3/4th for FDR.

You are claiming something as fact when it is partisan blather that he harmed the economy.

It is you who are revising history for your partisan view.

Going to write your own version of history in this thread too? Get over yourself, huh? You're full of shit.

as she always is

 

[Truthmatters]

FDR was seen as a HERO by the people who LIVED the great depression.

They know more about it than you can ever dream of knowing.

The economists are split right down the middle on the subject, can you guess why?

Historians are on his side by about 3/4ths.

I go with the people who lived it and the historians and half the economists.

whos on your side? half the economists and partisan hacks thats who.