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Old 03-15-2009, 09:38 AM
 
Location: Chicagoland
41,325 posts, read 44,784,961 times
Reputation: 7118

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and why obama's (which basically mirror FDR's) will do the same. Short and sweet for those who are economics-lite. Article from 2004.

FDR's policies prolonged Depression by 7 years, UCLA economists calculate / UCLA Newsroom


Quote:
Two UCLA economists say they have figured out why the Great Depression dragged on for almost 15 years, and they blame a suspect previously thought to be beyond reproach: President Franklin D. Roosevelt.

After scrutinizing Roosevelt's record for four years, Harold L. Cole and Lee E. Ohanian conclude in a new study that New Deal policies signed into law 71 years ago thwarted economic recovery for seven long years.

"Why the Great Depression lasted so long has always been a great mystery, and because we never really knew the reason, we have always worried whether we would have another 10- to 15-year economic slump," said Ohanian, vice chair of UCLA's Department of Economics. "We found that a relapse isn't likely unless lawmakers gum up a recovery with ill-conceived stimulus policies."
Which is exactly what obama and the dems have done.
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Old 03-15-2009, 09:41 AM
 
Location: San Salvador, El Salvador
568 posts, read 1,474,768 times
Reputation: 267
Debunked... Most ecomonist says FDR didn't do enough.
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Old 03-15-2009, 09:46 AM
 
Location: San Salvador, El Salvador
568 posts, read 1,474,768 times
Reputation: 267
Quote:
Originally Posted by sanrene View Post
and why obama's (which basically mirror FDR's) will do the same. Short and sweet for those who are economics-lite. Article from 2004.

FDR's policies prolonged Depression by 7 years, UCLA economists calculate / UCLA Newsroom




Which is exactly what obama and the dems have done.

You must of forgotten that Hoover put in place a spending freeze doing a depression and made it much worse. Exactly what are Boehner and John McCain offering again? Oh yeah! A spending freeze. If you want 36% unemployment follow the Republican party.
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Old 03-15-2009, 09:50 AM
 
Location: Foot of the Rockies
90,316 posts, read 120,179,658 times
Reputation: 35920
Monday morning quarterbacking.
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Old 03-15-2009, 09:54 AM
 
19,198 posts, read 31,372,665 times
Reputation: 4013
Rehash of a rehash of debunked arguments. This is all the right-wing has. They make claims. Those claims get shot down. They make the same claims all over again. It seems like they're all stuck in the spin-cycle...round and round and round they go...
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Old 03-15-2009, 02:02 PM
 
Location: Chicagoland
41,325 posts, read 44,784,961 times
Reputation: 7118
Quote:
Debunked... Most ecomonist says FDR didn't do enough.
Straight from obama's mouth. What would you expect a big-government, socialist to say when faced with the facts of history? It's been tried more than once and each time massive government expansion has not worked and only exacerbated the problem.
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Old 03-15-2009, 02:35 PM
 
Location: Raleigh, NC
9,059 posts, read 12,930,864 times
Reputation: 1401
The pro New Deal Keynesian retards have no mathematical evidence to back up their claim. All they can do is drool over how a Bush hating "economist" wins a beauty pageant formerly referred to as a respected award ceremony.
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Old 03-15-2009, 02:44 PM
 
Location: toronto, Canada
773 posts, read 1,211,925 times
Reputation: 283
A short succinct debunking of Keynesian economics.
Government spending can't put money into the economy, unless it first takes it out of the economy.
There is no increase in aggregate demand.

YouTube - Keynesian Economics Is Wrong: Bigger Gov't Is Not Stimulus

Today's supporters of Keynesian economics are the same proponents of wealth distribution, aka socialism.
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Old 03-15-2009, 03:12 PM
 
Location: Unperson Everyman Land
38,603 posts, read 26,217,624 times
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Quote:
Originally Posted by mental_complex View Post
Debunked... Most ecomonist says FDR didn't do enough.

Could you name some of them please.
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Old 03-15-2009, 03:40 PM
 
Location: Unperson Everyman Land
38,603 posts, read 26,217,624 times
Reputation: 12628
Quote:
Originally Posted by mental_complex View Post
You must of forgotten that Hoover put in place a spending freeze doing a depression and made it much worse. Exactly what are Boehner and John McCain offering again? Oh yeah! A spending freeze. If you want 36% unemployment follow the Republican party.
Link? Quote? Proof? Anything?

36%?

I googled Hoover Spending Freeze and didn't come up with anything. Maybe you could provide your source?

"President Herbert Hoover started numerous programs, all of which failed to reverse the downturn.[56] In June 1930 Congress approved the Smoot-Hawley Tariff Act which raised tariffs on thousands of imported items. The intent of the Act was to encourage the purchase of American-made products by increasing the cost of imported goods, while raising revenue for the federal government and protecting farmers. However, other nations increased tariffs on American-made goods in retaliation, reducing international trade, and worsening the Depression.[57] In 1931 Hoover urged the major banks in the country to form a consortium known as the National Credit Corporation (NCC).[58] By 1932 unemployment had reached 24.9%,[59] a drought persisted in the agricultural heartland, businesses and families defaulted on record numbers of loans, and more than 5,000 banks had failed.[60] Tens-of-thousands of Americans found themselves homeless and they began congregating in the numerous Hoovervilles that had begun to appear across the country. In response, President Hoover and Congress approved the Federal Home Loan Bank Act, to spur new home construction, and reduce foreclosures. The final attempt of the Hoover Administration to stimulate the economy was the passage of the Emergency Relief and Construction Act (ERA) which included funds for public works programs such as dams and the creation of the Reconstruction Finance Corporation (RFC) in 1932. The RFC's initial goal was to provide government-secured loans to financial institutions, railroads and farmers. Quarter by quarter the economy went downhill, as prices, profits and employment fell, leading to the political realignment in 1932 that brought to power Franklin Delano Roosevelt."

Great Depression - Wikipedia, the free encyclopedia
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