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.
And we know when FDR let up on the investment in 1937 that the economy reversed progress.
.....
As a student of history, I'm sure you also are aware that FDR also raised the marginal income tax rate to 79% in '37. Don't you think that might have a major factor in deterring investment and negatively impacting GDP growth and job creation?
To both liberals and conservatives: give it a rest. All the bashing across the isle is a major reason we aren't moving towards a solution to the mess American is in. 'Being right' or 'putting the other party in their place' is counterproductive. Lets work together and come up with a solution then go back to petty one-upping each other, ok?
I agree with you to a large extent, but we have not tried a conservitive approach yet. During Bush, federal spending increased faster than income, on both domestic and military spending. By all accounts the last 8 years (+) have been far more liberal than conservative in terms of financial policy, and that's only increasing now.
What would be real interesting to try is an actual conservative approach. This would be one where federal spending was reigned in dramatically, government regulation and support of specific businesses was eliminated or dramatically reduced and a true free market capitalist system tried.
Exactly which is why you need to turn off the cartoons and read up on history.
We are hurting badly. We have history to show us policies that did work to help in such historic times. We can see that the efforts of the New Deal greatly helped the American people and our economy.
Keep drinking though, since you prefer to not be informed.
Quote:
From an estimated annual rate of 3.3 percent during 1923-29, the unemployment rate rose to a peak of about 25 percent in 1933. The economy reached its trough in 1933; but although unemployment had reached its peak, economic recovery was slow, hesitant, and far from complete. As shown below, the unemployment rate was still nearly 15 percent in 1940. 37
Just like with Hoover before them, the current GOP from Bush to his Congressional GOP counterparts only wanted and continue to want continued complete deregulation which put us in this mess. They wanted to party like children running free in a candy store. And they sure did.
Now we are all paying for it and this mess created by them built up over the Bush administration's duration will take a long time to clean up and it will take bold action to reverse this mess.
Of course though, the GOP wants "Obama to fail." I don't have a problem with Rush and his party clearly stating the obvious.
We get it. They would do it all over again if they could.
So it's only natural that the bad children don't want rules in place by parents to get us moving properly to a sound condition.
Nope, they want to go back to the party no matter how bad they sink this country.
We do know however that significant progess was made by FDR to improve the economy and lives of Americans hurt badly from Hoover's Great Depression.
And we know when FDR let up on the investment in 1937 that the economy reversed progress.
We have an opportunity to learn from that past, despite the continued willful incompetence and ignorance of the failed conservative policies.
But by all means neo-Hooverites, continue with your propaganda.....
If only deregulation were the real problem. Is that what caused it? In short, Yes. In the long run government creating businesses and sticking them on the free market and leaving the tax payer beholden to them is the real problem. Government shouldn't be making business... a monopoly by any other name. On top of that you have 535 CEO's.... A recipe for disaster if I ever heard of one. But the voices calling for the GSE's to be sold to the free market were silent because being GSE's they gave the impression they were unbreakable. Were they?
To both liberals and conservatives: give it a rest. All the bashing across the isle is a major reason we aren't moving towards a solution to the mess American is in. 'Being right' or 'putting the other party in their place' is counterproductive. Lets work together and come up with a solution then go back to petty one-upping each other, ok?
That's not my words, but Christina Romer's. Although not in those exact terms.
I'd belive the BLS.gov and CEA before I'd be apt to believe
Quote:
After three decades of conservative dominance in American politics, we Americans are threatened with economic disintegration, environmental devastation and international
isolation.
The list of failure is simply exhausting: a disastrous Iraq occupation, a destabilized Middle East and Asia, the persistent threat of terrorism, a menacing climate crisis, an insecure and dwindling energy supply, unprecedented trade deficits, unchecked global corporate power, our broken health care system, a weakened pension system and an increasingly inaccessible higher education system.
Totally ignoring Clinton... Credibility... *out the door*
I'm more than happy to read liberal site with some sort of an ability to critically think.
Anyways in an article for The Encyclopedia Britannica Christina Romer wrote:
Quote:
The U.S. recovery began in the spring of 1933. Output grew rapidly in the mid-1930s:
real GDP rose at an average rate of 9 percent per year between 1933 and 1937. Output had fallen
so deeply in the early years of the 1930s, however, that it remained substantially below its longrun
trend level throughout this period. In 1937–38 the United States suffered another severe
downturn, but after mid-1938 the American economy grew even more rapidly than in the mid-
1930s. U.S. output finally returned to its long-run trend level in 1942.
Recovery in the rest of the world varied greatly. The British economy stopped declining
soon after Britain’s abandonment of the gold standard in September 1931, though genuine
recovery did not begin until the end of 1932. The economies of a number of Latin American
countries began to strengthen in late 1931 and early 1932. Germany and Japan both began to
recover in the fall of 1932. Canada and many smaller European countries started to revive at
about the same time as the United States, early in 1933. On the other hand, France, which
experienced severe depression later than most countries, did not firmly enter the recovery phase
until 1938.
Given the key roles of monetary contraction and the gold standard in causing the Great Depression, it is not surprising that currency devaluations and monetary expansion became the leading sources of recovery throughout the world. There is a notable correlation between the time countries abandoned the gold standard (or devalued their currencies substantially) and a renewed growth in their output. For example, Britain, which was forced off the gold standard in September 1931, recovered relatively early, while the United States, which did not effectively devalue its currency until 1933, recovered substantially later. Similarly, the Latin American countries of Argentina and Brazil, which began to devalue in 1929, had relatively mild downturns and were largely recovered by 1935. In contrast, the “Gold Bloc” countries of Belgium and France, which were particularly wedded to the gold standard and slow to devalue, still had industrial production in 1935 well below its 1929 level.
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.
Conservatives are reduced to nothing more than catchy lines.
