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There is no point. There is a question. A vern pointed and specific question. A question so simple that a 10 year old would have a hard time find answering.
What happened to unemployment when government spending rose to more than 50% of GDP and the Federal debt exceeded GDP by 120%?
Considering we're discussing the Great Depression, unemployment was high. Considering also that you have no point, it makes me wonder why you are asking the question, especially considering I oppose the government spending taking place.
What happened to unemployment when government spending rose to more than 50% of GDP and the Federal debt exceeded GDP by 120%
and we were murdering most of the rest of the world and blowing up its industrial complexes?
No, the question was posed correctly, but I hasten to point out that your response was a classic case of avoidance avoidance conflict because to answer the question correctly requires that you would have to admit something that you know will be in direct conflict with your most cherished beliefs.
No, the question was posed correctly, but hasten to point out that your response was a classic case of avoidance avoidance conflict in that to answer the question correctly requires you to admit something that you know will be in direct conflict with your most cherished beliefs.
Nahh.. I know adding billions to the money pool would make people's work way more valuable, i.e. devaluing American's work makes them more marketable.
My most cherished belief would be that people who are elected to make decisions have nowhere near the same motive as people in abject poverty or people who are backed into a corner.
Those people, the ones that make it, came out with the best inventions and ideas to ever roam this planet. It's a one-way valve too, by the way.
If you think that the policies of the 40's helped the Great Depression you also have to accept that there would have been no GD if 60 million people weren't killed during WWI thereby destroying demand.
If you think that the policies of the 40's helped the Great Depression you also have to accept that there would have been no GD if 60 million people weren't killed during WWI thereby destroying demand.
It is truly amazing, well not really, how the "anti-Keynesians" dance, duck and hide from the question.
In 1945 government spending approached 60% of GDP, and the national debt grew to 120% of GDP that same year, boys and girls, the unemployment rate reached the startling rate of... 1.4%.
Now our reactionary friends will rush to point out that such vast national resources were the result of war, bla-ze, bla-ze, which is totally unimportant because it implies that such a national effort can only be applied to global warfare. Of course it ignores the fact that such an undertaking aimed towards peaceful means would have the same effect. Call WWII the New Deal writ large if anything it conclusively proves that even as important as the New Deal was in ushering in a sustainable recovery it also demonstrated that like the Obama stimulus, it was vastly underfunded.
Tweedledum and Tweedledee
Agreed to have a battle;
For Tweedledum said Tweedledee
Had spoiled his nice new rattle.
Just then flew down a monstrous crow,
As black as a tar-barrel;
Which frightened both the heroes so,
They quite forgot their quarrel."
It is truly amazing, well not really, how the "anti-Keynesians" dance, duck and hide from the question.
In 1945 government spending approached 60% of GDP, and the national debt grew to 120% of GDP that same year, boys and girls, the unemployment rate reached the startling rate of... 1.4%.
Now our reactionary friends will rush to point out that such vast national resources were the result of war, bla-ze, bla-ze, which is totally unimportant because it implies that such a national effort can only be applied to global warfare. Of course it ignores the fact that such an undertaking aimed towards peaceful means would have the same effect. Call WWII the New Deal writ large if anything it conclusively proves that even as important as the New Deal was in ushering in a sustainable recovery it also demonstrated that like the Obama stimulus, it was vastly underfunded.
The whole point of printing money and "stimulus" is to devaule the American people (since it's their debt) to a point were everyone is on an even playing field.
That did make American's work more valuable because the dollar dropped value (approximately half because of the Glad Confiscation Act). But there was more to it. We were selling arms, ships, planes, bombs... etc en masse while at the same time employing massive amounts of people to help murder, as FDR said, the dictators who would take every resource on the planet if left unchecked.
So to answer your statement, why don't they just print money like there's no tomorrow? (the perfect question to an answer )
You know why... A New Deal Program would have pushed us over the limit. Imagine Obama having spent the $5 trillion Krugman was pushing for. That would have immidately put us over the GDP to debt ratio that is consider the "event horizon" by economist.
The whole point of printing money and "stimulus" is to devaule the American people (since it's their debt) to a point were everyone is on an even playing field.
How do you devalue a person who is out of work, losing their home, and has to live off of food stamps and welfare?
Quote:
That did make American's work more valuable because the dollar dropped value (approximately half because of the Glad Confiscation Act). But there was more to it. We were selling arms, ships, planes, bombs... etc en masse while at the same time employing massive amounts of people to help murder, as FDR said, the dictators who would take every resource on the planet if left unchecked.
Do you really think that stringing together a few economic phrases and dropping the name of a single piece of legislation is going to obscure the fact that you have done everything to avoid addressing the question. Did you learn your debating technique from Ron Paul???
Quote:
So to answer your statement, why don't they just print money like there's no tomorrow? (the perfect question to an answer )
Is is customary in your part of the woods to pretend that answer a question with a question is really answering the question?
Quote:
You know why... A New Deal Program would have pushed us over the limit. Imagine Obama having spent the $5 trillion Krugman was pushing for. That would have immidately put us over the GDP to debt ratio that is consider the "event horizon" by economist.
What is this "event horizon" 80% of GDP, 90% of GDP, 120% of GDP. What was the "event horizon in 1945, and what its affect on 1946, 47, 48, 49, 50, 51, 52,....?
It is truly amazing, well not really, how the "anti-Keynesians" dance, duck and hide from the question.
In 1945 government spending approached 60% of GDP, and the national debt grew to 120% of GDP that same year, boys and girls, the unemployment rate reached the startling rate of... 1.4%.
Oooh I cant believe you even posted that.. So now you are saying we should start another world war in order to "put people" to work? haha..
You see the part missing in your equation is in 1945, people were PRODUCING.. We were not paying people to sit on welfare. By definition, you cant reduce unemployment figures unless you increase those employed
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Trickle Down Economics
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