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That is also when many manufacturing jobs were right here in the US, not shipped off to foreign countries. I read just yesterday that the new MLK statue for the Washington DC Mall was made in China, sign of the times.
that is truly pathetic...
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A former adviser for the memorial has accused the Martin Luther King Jr. National Memorial Project Foundation Inc. of promoting Lei to head artist in the hopes of getting a $25 million donation from the Chinese government to make up for a shortfall in funding. In a 13-page critique, Ed Dwight, a sculptor who has created seven King memorials, called Lei's proposed statue a "shrinking, shriveled inadequate personage." A King Statue 'Made in China'? - washingtonpost.com
But like wehotex pointed out - there were manufacturing jobs to come back to, that would bring back the economy. All that's gone now. Not much is made in the USA, nor will there be anytime soon.
That clip sure brings back memories. I wonder if that cafe is still in business, or sold, closed, name changed? It is true that, judging by the unemployment rate, the 82-83 recession was worse, at ove 10 percent for six months. But the key differences between now and then: 1) In that recession the job losses were concentrated on those without college degrees. A much higher percentage of the unemployed today have at least a college education. 2) The population is older, so more have the option of retiring, albeit at reduced benefits, after a fruitless job search. Yes, manufacturing is less important to the economy, continuing a 50-year trend.
Time to turn around manufacturing and recover our position as the leading exporter. Germany is about the most expensive place to produce manufactured goods on the planet. How can they export more then us? Ever wonder why people will buy a BMW instead of a Ford? Perceived, and in many cases actual, quality is why.
I can say one thing, it's the worst in a generation, but not up there with the Great depression. People were starving to death then.
Is that true?
Today we can verify the BS and spin of the state run media through various other sources to include the Internet. In the thirties the media was very limited and likely the only reason it wasn't scrutinized the way it is today is because ordinary people didn't have the means. If the government, eager to seize greater power as they are today, said people were starving, the justification for expanding government's grasp was simply accepted as true.
I can round up a dozen anorexics for a photo and claim Americans are starving, but the reality is that the poorest Americans are typically obese. Personally, I don't believe everything the in the paper and verify everything our hopelessly corrupt federal government says.
Were you or any of your relatives alive in the 30's? I have spoken with people who were and they were really hard times because people were literally starving after they lost their employment, their savings and their shelter. There were no government programs like unemployment or food stamps to keep some money circulating. There was no government guarantee on your savings accounts so they lost everything when the banks collapsed.
I prefer the support systems we have in place and would prefer to see them extended until the recovery is obvious.
I was only 7 years old in 1983 but I have a lot of good memories from that time, I remember going to my neighbor's house everyday to play Atari 2600, I remember listening to the radio around that time and truly enjoying so many good songs, life was a lot simpler, there were no cell phones, or Ipod's but people lived just fine. Music, TV shows and movies were so much better than they are today. I really feel sorry for the 20-something kids that are just graduating from college, life in this country used to be a lot better some 27 years ago.
You are absolutely right OP. They are in no way shape or form the same. Reagan inherited a functioning economy, no outright wars, no financial meltdown and no closing or cleaning up a faulty and broken government left by the previous administration.
Reagan inherited an economy which had 22% interest rates and 13% inflation rates.
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And most of all Reagan burdened this country with a MASSIVE debt and deficit.
Incorrect. The Democratic-controlled Congress burdened this country with a massive debt.
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Reagan also never, ever submitted a balanced budget.
Yes, he did. And when he did, it was declared DOA by Tip O'Neil.
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