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I don't know if you realize this, but Warren Harding died years before the Depression started.
Harding died in 1923 and the depression didn't start until 1929.
Is this the proof, our citizens are not as informed as they lead on to be.
1920, was a depression created by Woodrow Wilson's spend, spend, spend and with his Federal Reserve creation. The very thing Andrew Jackson said would happen, with a central bank, creating currency.
Is this the proof, our citizens are not as informed as they lead on to be.
1920, was a depression created by Woodrow Wilson's spend, spend, spend and with his Federal Reserve creation. The very thing Andrew Jackson said would happen, with a central bank, creating currency.
Did MTATech just waste several minutes trying to get you something to think about? Don't post any more babbling at least until you have a handle on that message.
Did MTATech just waste several minutes trying to get you something to think about? Don't post any more babbling at least until you have a handle on that message.
7:20 - 7:25 between posts.
Let your investigative skills determine what happened.
Is this the proof, our citizens are not as informed as they lead on to be.
1920, was a depression created by Woodrow Wilson's spend, spend, spend and with his Federal Reserve creation. The very thing Andrew Jackson said would happen, with a central bank, creating currency.
You crazy Right Wingers can distort any President.
Lets forget that during FDR's 1st term unemployment was cut almost in HALF (from about 24% to 14%). Creating close to 10 million jobs!
Lets forget that America's GDP grew close to 35% in FDR's 1st term.
The only thing you are correct on is Obama is mimicking some of FDR's work. He is fixing the country after a loon screwed things up (Hebert Hoover vs George W. Bush).
This mime cannot stand up to even the most basic economic analysis.
Post war bubble, in prices.
What happens during war?
Have we not been spending and spending? On war?
Notice prices getting out of hand lately? Inflation wouldn't have anything to do with that, would it? When is it going to deflate? The real question... How is it going to deflate, because it will.
Hoover hit office. He upped government spending by how much? Quadrupled!!!!! He raised taxes by how much to pay for all the spending? To the highest the USA has ever seen.
The very spending to regulate and tax the prosperity, the roaring 20's brought on. That brought our economy to a screeching halt. in 1933.
Did MTATech just waste several minutes trying to get you something to think about? Don't post any more babbling at least until you have a handle on that message.
It really doesn't take much of my time. Since these inane arguments repeat themselves, I have this stuff locked and loaded and ready to fire.
However, the main thesis of this thread is flawed. As I stated, the comparison between Harding's recession and the Great Depression were completely different causes and solutions, therefore, must be completely different.
In summary, Harding's recession was caused by high inflation and therefore, putting economic breaks is the appropriate solution. The Great Depression was lack of demand. Putting breaks on the economy, as Hoover did, made the Depression worse. FDR's mild Keynesian stimulus was the appropriate policy and apart from the misleading revisionists, clearly worked.
What happens during war?
Have we not been spending and spending? On war?
Notice prices getting out of hand lately? Inflation wouldn't have anything to do with that, would it? When is it going to deflate? The real question... How is it going to deflate, because it will.
Hoover hit office. He upped government spending by how much? Quadrupled!!!!! He raised taxes by how much to pay for all the spending? To the highest the USA has ever seen.
The very spending to regulate and tax the prosperity, the roaring 20's brought on. That brought our economy to a screeching halt. in 1933.
Hoover was a "keep government coercion out" kind of President. Taxes were lowered (top marginal rates were cut to about 25% and capital gains tax as well) leading to the great depression. Following the stock market crash in 1929 that triggered the Great Depression, he ended up being about as clueless as George W Bush was, to handle it.
And in case you thought that since the 1920 economic downturn was labeled a "depression" as opposed to a recession, hence can be compared directly to the Great Depression, learn that the term recession came about following the Great Depression. Every economy downturn leading to GD was called a depression. Yes, that is the kind of mess FDR had to handle.
Harding busted the unions, and cut the size of government spending by half, or was it 2/3rds.
Harding slashed the military budget by 83% while the remaining civilian budget grew.
President Warren G. Harding largely killed ‘Military Industrial Complex.
Why won’t our establishment give him credit for that achievement? Or maybe they do… thus his extremely low ranking.
Did the Harding administration take a laissez-faire approach to the high unemployment? No, in May of 1921 the Harding administration pushed thru laws to reduce immigration, known as the Emergency Quota Act and increase the tariff rates, with the Emergency Tariff Act of 1921.
a quote from Harding
Quote:
“America’s present need is not heroics, but healing; not nostrums, but normalcy; not revolution, but restoration; not agitation, but adjustment; not surgery, but serenity; not the dramatic, but the dispassionate; not experiment, but equipoise; not submergence in internationality but sustainment in triumphant nationality.”
That needs to be in the hearts of all true red, white and blue Americans.
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