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Bad news: we're back to 1931. Good news: it's not 1933 yet
Interesting...people will deny it of course as everything is better now.
Quote:
This may beat Germany (-7pc) Japan (-12pc) and Korea (-22pc) over the fourth quarter. But that merely underlines the dangers ahead as the collapse of global trade chokes the mini-boom in US exports, setting off another stage of the crisis.
The US is losing 500,000 jobs a month. Brazil lost 650,000 in December. Beijing says 10m Chinese have lost their jobs since the crunch began. Japan's exports fell 35pc last month, year-on-year. The central bank is printing money furiously, buying bonds to prevent a relapse into deflation.
So yes, it is like early 1931. Citigroup and Bank of America have more or less disintegrated. JP Morgan's health is failing fast. General Motors and Chrysler survive only on life-support from the US taxpayer
Not quite, luckily that socialist FDR, established the FDIC, social security, and other social safety nets. Additionally, unlike 1929-1933 the Fed, and the administration understand Keynesian economics.
Not quite, luckily that socialist FDR, established the FDIC, social security, and other social safety nets. Additionally, unlike 1929-1933 the Fed, and the administration understand Keynesian economics.
Most Keynesians like the FDR supporters only look at one side of the equation.
The reality is government can't inject money into the economy without first taking it out of the economy. There is no increase in aggregate demand.
Keynesian economics doesn't increase national income it just redistributes it.
Big governments hurt economic performance by misallocating national resources.
Keynesian theory didn't work for Roosevelt any more than it did for Hoover. Unemployment remained high during the 1930's and overall output didn't get back to the 1929 level until World War 2.
Peter Schiff got it right all Keynesian textbooks should be burned.
Most Keynesians like the FDR supporters only look at one side of the equation.
The reality is government can't inject money into the economy without first taking it out of the economy. There is no increase in aggregate demand.
Keynesian economics doesn't increase national income it just redistributes it.
Big governments hurt economic performance by misallocating national resources.
Keynesian theory didn't work for Roosevelt any more than it did for Hoover. Unemployment remained high during the 1930's and overall output didn't get back to the 1929 level until World War 2.
Peter Schiff got it right all Keynesian textbooks should be burned.
Most Keynesians like the FDR supporters only look at one side of the equation.
The reality is government can't inject money into the economy without first taking it out of the economy. There is no increase in aggregate demand.
Keynesian economics doesn't increase national income it just redistributes it.
Good point...as government doesn't produce wealth,how can it add wealth?
Welcome to City-Data.com forum! Make sure to register - it's free and very quick! You have to register before you can post and participate in our discussions with 700,000 other registered members. User profiles and some forums can only be seen by registered members. After you create your free account you will be able to customize many options, you will have the full access to over 15,000 posts/day about local topics and you will see fewer ads. 
Bad news: we're back to 1931. Good news: it's not 1933 yet
Maybe someday you guys will find your next Lincoln!
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