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If the market manipulators and deep margin speculators were Republicans then they indeed did cause the Great Depression by gambling with money they did not own. They are still doing this which resulted in the recent collapse.
Markets are very useful for distributing capital (savings) but are very vulnerable to being taken over by professional gamblers or market manipulators. Those people eventually destroy the capital distribution function of an equity market. This is why markets have to be carefully and diligently regulated. Under recent Republican government they failed to regulate the market and it collapsed.
If the market manipulators and deep margin speculators were Republicans then they indeed did cause the Great Depression by gambling with money they did not own. They are still doing this which resulted in the recent collapse.
Markets are very useful for distributing capital (savings) but are very vulnerable to being taken over by professional gamblers or market manipulators. Those people eventually destroy the capital distribution function of an equity market. This is why markets have to be carefully and diligently regulated. Under recent Republican government they failed to regulate the market and it collapsed.
All of this talk about how the Democrats are bad for the country makes me think about the history of the Great Depression.
In the United States, the Republican Party was the dominant force from the Civil War to the Great Depression.
When you look at all of the factors involved in the Stock Market crash, how it got to where it was and why it was possible, it seems that the Republican Party has not learned anything from history.
Still, they cry and moan like they've been the great saviors of our country's economy....
So, in your opinion, yes, the Republicans caused it. Am I right.
Well, you are wrong.
The short answer is that the government caused it, much as the government has caused our current situation, which just might degrade into a full blown depression, if nothing is done to prevent it. At this point, it isn't looking very good.
When government meddles in the private sector, as it is doing today, anything can happen. We are making many of the same mistakes today that caused the Great Depression.
FDR, with his meddling prolonged the Great Depression by several years.
Sources
"Great Myths of the Great Depression" by Lawrence W. Read
"How Government Prolonged the Depression" by Harold L. Cole and Lee E. Ohanian Feb 2, 2009 "The Wall Street Journal"
So, in your opinion, yes, the Republicans caused it. Am I right.
Well, you are wrong.
The short answer is that the government caused it, much as the government has caused our current situation, which just might degrade into a full blown depression, if nothing is done to prevent it. At this point, it isn't looking very good.
When government meddles in the private sector, as it is doing today, anything can happen. We are making many of the same mistakes today that caused the Great Depression.
FDR, with his meddling prolonged the Great Depression by several years.
Sources
"Great Myths of the Great Depression" by Lawrence W. Read
"How Government Prolonged the Depression" by Harold L. Cole and Lee E. Ohanian Feb 2, 2009 "The Wall Street Journal"
Ok... you said that the government caused it but not the Republicans.
The Republicans had been in power since the Civil War and up until the depression... so, if it wasn't the republicans who were responsible for the stock market and banking practices that brought the system down, I don't know who was.
The whole mortgage crisis came about is very much like the practices that caused the stock market to crash back in 1929. Inflated values, borrowing and spending money that wasn't there.... A lack of regulation is what brought this crisis about and it's what the Republicans are still fighting.
Mr. Bernake is one who's stated that the fact that government did not respond correctly is what prolonged the effect and that is why the government has done what it's been doing in our current crisis.
So, it does appear that some have learned lessons...
Last edited by World Citizen; 12-22-2009 at 01:12 PM..
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