Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Although Herbert Hoover has been blamed for the stock market crash, he, in fact, warned President Coolidge in 1925 about the dangers of excessive stock market speculation. He again expressed concern while running for president in 1928. After the crash, Herbert Hoover ordered federal departments to speed up construction projects, cut $160 million in taxes, and doubled the amount spent on public works. By 1933, one-fourth of the nation's workers were unemployed. In addition to the high unemployment, the American economy experienced slow economic growth and financial instability. Hoover was criticized for his refusal to authorize large-scale relief programs that might have alleviated the nation's suffering and hunger, his unwillingness to use a significant amount of federal dollars to stimulate the nation's economy, and his failure to recognize the all-encompassing nature of the Great Depression.
And inflation is part of life. Nearly all things go up in price over time. This is nothing new.
Inflation does typically happen, but not this fast. And inflation doesn't have to be a part of life. The government believes 3% is a good rate. That means every year the average person needs a 3% raise just to maintain purchasing power. That is a "normal" rate. Presently we are experiencing more than that and the CPI doesn't factor in food or fuel. Are you saying the pumping of new currency in by the fed hasn't increased the rate of inflation? What is you explanation for a "record" DJIA but with the economy in poor shape? How come everything around me has rapid increased in price? I'm not an old guy. I'm not reminiscing over 5 cent Cokes. Prices normally double every 20 years or so. Things are happening much faster than that. Have you looked at shipping parcels lately? I've been ebaying for 13 years and in the last 3-4 years the cost of shipping has massively increased even after gas prices shot up. There are plenty of examples. I work in a recession resistant industry (tax software) and raises have been few and far between for everyone. I've worked for multiple companies during that time and hopping job to job is just about the only way to increase pay it seems.
I don't think Obama would think the current economy is a success. My returns have been great, in the stock and real estate markets, but I am not one Obama is trying to help. The people he is trying to help still have misery after 4 years.
The economy was facing it's worst crisis since the Great Depression.
The stock market had crashed.
And today ... just 4 years later ... we are ready to set a new Dow record !!!
yuh can't compare the essence of meaning in the points ...in this time relative to 6 or whatever years ago....so its about 300-400 points off a comparable suggestion
second the dollar is doing well....but it always does before it goes for a walk down memory lane and thats where its understood to go.
Last edited by stargazzer; 03-05-2013 at 01:07 PM..
The economy was facing it's worst crisis since the Great Depression.
The stock market had crashed.
And today ... just 4 years later ... we are ready to set a new Dow record !!!
Thank you for proving, beyond the shadow of a doubt, that President Obama was simply lying to America about the sequester. The market sure isn't going for Obama's attempt to substitute fear for leadership.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Stock Market To Break All-Time High - Thanks Obama!
