Re: Doonesbury Feb 2008 - last week

On 01 Mar 2008, sanford sklansky said the following in
news:XRmyj.11319$Ru4.7346@xxxxxxxxxxxxxxxxxxxxxxxxxxx

"Dann" <detox665@xxxxxxxxxxx> wrote in message
news:Xns9A54B4B8C8BB1detox665hotmailcom@xxxxxxxxxxxxxx
On 01 Mar 2008, Carl Fink said the following in
news:slrnfsjdb0.pdq.carlf@xxxxxxxxxxxxxxxxx

On 2008-03-01, Antonio E Gonzalez <AntEGM111@xxxxxxx> wrote:

Yeah, look at the way the New Deal undermined th- . . . oh
right,
it actually ended the Great Depression . . .

In the sense of not actually ending the Depression. It surely made
it less horrible for the people at the very bottom, but World War
Two and the natural economic cycle ended it.

Much like as the current proposed economic policies [tax rebate
stimulus, lower interest rates, deficit spending] are ill-informed
economic interventions, the New Deal actually made matters worse by
forcing the Depression to last many years more than would have
otherwise been the case. I would also argue that the world war that
brought the world out of that economic depression more than natural
economic cycles.

Sure, the handouts helped people survive a 10 year depression, but
they might have found survival easier if it had only lasted the 1 to
3 years that was typical up until that point.

If you want to pinpoint the start of the depression from the day the
stock market crashed until Rooesevelt was inaugerated it was over 3
years already, so that puts it in to the 1 to 3 years you quote. By
the time Roosevelt took over the country was in pretty poor shape.

Absolutely correct. An accurate reading of history indicates that FDR
did nothing more than take the Hoover administration's harmful
initiatives and put them on steroids. It was the continuation of the
Hoover administation's bad ideas, coupled with FDR's substantially flawed
ideas about initiating a command ideas that caused the damage.

People where already out of work, there were lines for soup kitchens,
people had lost their homes and there were plenty of bank runs. That
is why after Roosevelt was inaugerated the banks were closed for a
short time. I think Roosevelt was just trying to do what ever he
could to get the economy going again.

That's a different critter. The banking and investment system needed
considerable overhaul/regulation/reform. FDR's administration
established an impressive framework for reform that has created ever
growing transparency in investments and banking.

Had FDR limited his administration's corrective actions to those reforms,
the depression would have ended years earlier.

--
Regards,
Dann

blogging at http://web.newsguy.com/dainbramage/blog.htm

Freedom works; each and every time it is tried.
.

Relevant Pages

  • Re: dow highs vs. crumbling economy
    ... and the conservative policies that wrecked america. ... TIMELINES OF THE GREAT DEPRESSION: ... However, the war economy ... Congress passes the Federal Home Loan Bank Act and the Glass-Steagall ...
    (sci.research.careers)
  • Re: Doonesbury Feb 2008 - last week
    ... the 1929-42 Depression to any previous ones is nigh on impossible, ... because of the change to a globally connected economy in the first ... the thing about that war ... that ended the Depression was MASSIVE government spending and MASSIVE ...
    (rec.arts.comics.strips)
  • Here comes the next rightwing lie: The New Deal prolonged the Great Depression
    ... Republicons and using Fox as the lead liars -- is telling us that this ... much agree" that Franklin Roosevelt prolonged the Great Depression, ... When I say Fox News' assertion about historians is patently false, ... the U.S. economy grew at ...
    (alt.politics)
  • We need to know this.
    ... How to Handle Your Job and Finances If There's a Depression ... What if the already terrible economy gets ... Harvard University economist Robert Barro has found that big market ... And what if you're in the retirement "red zone" and don't have decades ...
    (soc.culture.hmong)
  • Re: Wealth Does Not Pass Three Generations
    ... Wealth Does Not Pass Three Generations ... Microsoft Chief Executive Steve Ballmer likens economy to depressions ... unemployment, and a depression. ... The family income generators ...
    (misc.invest.stocks)