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The Pony Express was killing the U.S. Post Office so Congress made private mail delivery illegal.
The Pony Express was killing a lot of ponies. They never did get the lucrative government contract they had hoped for. They were forced to close down when the first transcontinental telegraph was completed. That was built by the US Post Office...
Whats the problem, you afraid that the government offering stability = you getting laid off and government not expanding their "control" over the citizens?
No, the problem is that your idea of stability produces national calamity. Whether I'm employed or not doesn't enter into it...
More supply-side drivel. Was it WWII that ended the Depression? Nothing but a stimulus program involving massive goverment debt and deficit spending. We are already doing what Japan didn't do for years -- restructuring the auto companies, unwinding and reorganizing troubled banks, pumping liquidity into credit markets.
LOL. Kennedy promised we would put a man on the moon by the end of the decade. At the time, we hadn't managed to get one into as much as suborbital flight. Giant government stimulus program. I can only imagine how right-wingers would have reacted to JFK. Reagan's tax cuts were abandoned as the economy sank into depression. Recovery followed a significant tax increase in 1982 that was followed by tax increases each year through 1986.
Private citizens and businesses have no capacity to produce public goods and services. If you vote B, you only get to pick from the goods and services that are in Column-B. There are some pretty nice things that people might really like over in Column-A. In most developed countries, Column-A is a lot more popular than what you seem to think it should be.
Gee Saggy-
Sounds a little like communism. What is all this taking over auto companies and banks all about? What other president has ever conducted such a massive take over of the private sector (none). But I guess he is not finsihed- health care is next.
WW2? Sure. What exactly has the Bammer purchased which has increased factory production? The "stimulus" was essentially wasted on liberal pork spending which produced no manufacturing jobs at all. In WW2, the nation returned to work to build tanks, aircraft and the weapons of war. Unemployment went down. Under Bammer, unemployment has increased markedly, despite spending more than the feds did for WW2! A little inefficient there, huh Saggy?
I think most sane individuals, particularly after Bammer's spending spree, would say that they can spend their own money more wisely than the feds. Are you literally suggesting that the feds, through taxation, wisely manage that taxed money and know to spend it more appropriately than the indviduals who earned that money??!?!? Saggy, you get a little more wierd by the minute.
You wouldn't understand it if I typed slowly and used small words.
So far you have been wrong on every count. So, factually wrong that words fail me.
Take for example:
"The pony express was made illegal by the U.S. Congress because the USPS could not compete with it."
The Pony Express operated under a contract with the U.S. Postal Service from July, 1, 1861 till it was made obsolete by the completion of the transcontinental telegraph line in October of the same year.
Yes, crises as bad or worse than this one were actually THE NORM back in the heyday of laissez-faire free-market capitalism, and not just every now and then either. In terms of lost industrial activity, ALL of these recessions were worse than the one we have now...
Meanwhile, your estimate of the duration of the 1893 and 1920 recessions is off. 17 months in the first case, 18 months in the second. Harding himself certainly didn't do much about the chaos surrounding him when he took office in 1921, but he did have Hoover set up the Unemployment Conference that year, and it pioneered in developing counter-recessionary policy. Aid to the unemployed, cooperation among federal, state, and local governments, and the conduct of public works projects all came out of that effort, and the Conference's records and research would serve as an important resource for FDR a dozen years later.
There is no comparison to either the Great Depression or the Arab Oil Crisis of 1979. I suspect you've been reading far too much of that Mises Institute stuff.
In the 65 years since WWII ended, we have had exactly three recessions that lasted as long as one year. That compares to three that occurred in the 1920's alone. This welcome near-elimination of what once was thought of as a natural business cycle was accomplished by switching away from thinking and policies that are more like yours, and turning instead to thinking and policies that are more like mine. That's the lesson that actual history teaches.
So we were in recession basically from the Civil War thru 1927? How could we have been in recession during WW1. You said WW11 got us out of depression. Yet we were in a recession during WW1? Seems odd.
I wasn't comparing the Arab oil deal of the 70s to now. My point was that Carter, Hoover and FDR all interfered in the economy when things were bad. Harding didn't. The Hoover, Carter and FDR economic messes lasted longer than Hardings. Even if it was 17 months or whatever you said.
I suspect you've been reading far too much of that Keynsien stuff.
The Pony Express was killing a lot of ponies. They never did get the lucrative government contract they had hoped for. They were forced to close down when the first transcontinental telegraph was completed. That was built by the US Post Office...
They were forced to close down when the U.S. Congress made the prvate delivery of mail illegal.
Gee Saggy-Sounds a little like communism. What is all this taking over auto companies and banks all about? What other president has ever conducted such a massive take over of the private sector (none). But I guess he is not finsihed- health care is next.
Welcome to another episode of Short Attention Span Theater. In our last episode, major banks and auto companies were crawling on their bellies like a reptile over to the government, begging and pleading to please, please, please be bailed out and rescued from certain financial disaster looming in some cases just hours away. In order to stave off the collapse of international financial markets and to avoid the instant loss of many millions of US jobs, the government reluctantly agreed to provide temporary relief. This is not how communism works, grasshopper.
There is meanwhile no takeover of health care going on. Such are the pleadings of the scatter-brained and ill-informed.
Welcome to another episode of Short Attention Span Theater. In our last episode, major banks and auto companies were crawling on their bellies like a reptile over to the government, begging and pleading to please, please, please be bailed out and rescued from certain financial disaster looming in some cases just hours away. In order to stave off the collapse of international financial markets and to avoid the instant loss of many millions of US jobs, the government reluctantly agreed to provide temporary relief. This is not how communism works, grasshopper.
There is meanwhile no takeover of health care going on. Such are the pleadings of the scatter-brained and ill-informed.
Gee Saggy- In that same "theater", Ford refused federal money and made a billion dollars last quarter. I guess a well managed company can do just fine without the feds. Have you driven the recent Fords?
I seem to also recall that Wells Fargo did just fine and used the "calamity" to expand its services.
Communism keeps inefficient, non-profitable entities alive that should have failed. We will all be the worse for it in the long run, as we, the taxpayers, will now be assuming the responsibility of the failed companies. Too bad.
It appears that the "scatter brained and ill-informed" have wasted the fortunes of future Americans for essentially nothing. This failed attempt at marxism has mortgaged the next generation to the hilt and will insure the continued economic decline of the nation.
Saggy, tell us some more marxist fairy tales about all the failed auto companies (like Ford and Wells Fargo) that seem to do so well without government "help". Perhaps you could take your fanciful economics class (at your fake university) on a field trip to these companies and find out how and why they were successful, in spite of Obama?
Gee Saggy- In that same "theater", Ford refused federal money and made a billion dollars last quarter. I guess a well managed company can do just fine without the feds. Have you driven the recent Fords?
No, they said they didn't think they would need federal funds just then. Because they had serendipitously arranged major lines of credit before Republican incompetence locked those markets up.
Quote:
Originally Posted by hawkeye2009
Communism keeps inefficient, non-profitable entities alive that should have failed. We will all be the worse for it in the long run, as we, the taxpayers, will now be assuming the responsibility of the failed companies. Too bad.
Capitalists buy out and operate money-losing companies for the tax breaks. Corporate divisions that haven't made a penny's worth of profit in years are carried by some unrelated but profitable division. Waste,fraud, and abuse galore. It all just gets passed on to the consumer anyway. "Private sector efficiency" is a figment of a befuddled imagination.
No, they said they didn't think they would need federal funds just then. Because they had serendipitously arranged major lines of credit before Republican incompetence locked those markets up.
Ooh this should be good.
Tell me how Republicans locked up the "line of credit" market. I really want to hear this spin..
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