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Keyword: greatdepression

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  • History Repeating Itself and Not in a Good Way

    02/13/2010 7:15:26 AM PST · by timesthattrymenssouls · 21 replies · 565+ views
    Constitutional Guardian ^ | 2/13/10 | Nancy Tengler
    Do yourself a favor and get a copy of Amity Shales' The Forgotten Man, A New History of the Great Depression. Barack Obama's presidency and his economic policies are placed in context once you read Shales' account of FDR and his policies. Written in 2007, there is no way Shales could have manipulated the similarities. Consider this account of the Roosevelt Administration in 1937, four and a half years after the New Deal was introduced and the economy refused to budge. She refers to this time as "a depression within the Depression. " "...the Economist would conclude...that the United States...
  • How FDR and the New Deal failed (Video)

    01/09/2010 11:58:11 AM PST · by mainestategop · 2 replies · 388+ views Check it out! Rate and comment and enjoy before it gets flagged and ban by the libtards. Also check out MY CHANNEL MAINESTATEGOP ON YOUTUBE For more fun amazing videos!
  • The Great Recession: A Hidden Depression?

    01/03/2010 9:39:35 PM PST · by FromLori · 16 replies · 1,611+ views
    Daily Finance ^ | December 31, 2009 | BRUCE WATSON
    The story of the Great Depression is often told in pictures: while few people recognize the names "Smoot-Hawley" or "Schechter Poultry," photographs of bank runs and bread lines continue to pack a punch, almost 80 years after they were first snapped. But the Great Depression's position as our absolute standard for economic disaster carries an unintended consequence: The power of its images seem to overwhelm -- and minimize -- the economic troubles of our own time. After all, if it doesn't look like a Depression, how tough could things be? The problem is that Walker Evans' and Dorothea Lange's famous...
  • Bernanke: haunted by fear of another Great Depression

    12/03/2009 8:18:54 PM PST · by Flavius · 10 replies · 761+ views
    afp ^ | 12/2/09 | afp
    Federal Reserve Bank chairman Ben Bernanke, who appears at a confirmation hearing Thursday for a second term, is a renowned expert on the Great Depression of the 1930s and is driven to avoid a repeat of such devastation.
  • It's all in your head...

    11/25/2009 8:16:47 PM PST · by CutePuppy · 15 replies · 802+ views ^ | November 21, 2009 | Robert J. Shiller
    <p>Beyond fiscal stimulus and government bailouts, the economic recovery that appears under way may be based on little more than self-fulfilling prophecy.</p> <p>Consider this possibility: after all these months, people start to think it’s time for the recession to end. The very thought begins to renew confidence, and some people start spending again — in turn, generating visible signs of recovery. This may seem absurd, and is rarely mentioned as an explanation for mass behavior late in a recession, but economic theorists have long been fascinated by such a possibility.</p>
  • Where is THIS Republican Party?

    11/19/2009 9:56:30 AM PST · by Mobile Vulgus · 6 replies · 537+ views
    Publius Forum ^ | 11/19/09 | Warner Todd Huston
    An excerpt of the 1924 Republican Party Platform: The prosperity of the American nation rests on the vigor of private initiative which has bred a spirit of independence and self-reliance. The republican party stands now, as always, against all attempts to put the government into business. American industry should not be compelled to struggle against government competition. The right of the government to regulate, supervise and control public utilities and public interests, we believe, should be strengthened, but we are firmly opposed to the nationalization or government ownership of public utilities. In 1924 the GOP ran Calvin "Silent Cal" Coolidge...
  • Time Line of the Great Depression

    11/15/2009 4:46:25 PM PST · by Kartographer · 19 replies · 966+ views
    1931 January -- Texas congressman Wright Patman introduces legislation authorizing immediate payment of "bonus" funds to veterans of World War I. The "bonus bill" had been passed in 1924. It allotted bonuses, in the form of "adjusted service certificates," equaling $1 a day for each day of service in the U.S., and $1.25 for each day overseas. President Hoover was against payment of these funds, saying it would cost the Treasury $4 billion. February -- "Food riots" begin to break out in parts of the U.S. In Minneapolis, several hundred men and women smashed the windows of a grocery market...
  • This is not a recession or another Great Depression, it is the beginning of The Great Collapse

    11/06/2009 10:17:40 AM PST · by rrdog · 19 replies · 1,657+ views ^ | 11/06/2009 | Eric Gurr
    The current economic crisis is considered a recession, on the verge of depression. The reality is that we are not entering another great depression and the more proper term is "The Great Collapse". What has happened in the past, usually will happen in the future. I approach this problem not with the fuzzy mathematics of the economist but with the certainty and empirical evidence of the historian. Recessions and Depressions are trying times for the citizens of a nation. Collapses are a completely different situation. An economic collapse is followed by exponential increases in misery. The more comfortable the population...
  • Be Prepared for the Worst (Ron Paul)

    11/01/2009 4:38:31 PM PST · by reaganaut1 · 71 replies · 3,056+ views
    Forbes ^ | October 29, 2009 | Ron Paul
    Any number of pundits claim that we have now passed the worst of the recession. Green shoots of recovery are supposedly popping up all around the country, and the economy is expected to resume growing soon at an annual rate of 3% to 4%. Many of these are the same people who insisted that the economy would continue growing last year, even while it was clear that we were already in the beginning stages of a recession. A false recovery is under way. I am reminded of the outlook in 1930, when the experts were certain that the worst of...
  • History Lesson From the 'Twenties (how government policies caused the Great Depression)

    11/01/2009 3:52:19 AM PST · by reaganaut1 · 6 replies · 697+ views
    Barron's ^ | November 2, 2009 | Thomas. G. Donlan
    ... The Great Depression was caused by misguided government policies adopted to avoid the "unsatisfactory conditions" signaled by the crash. The run-of-the-mill recession that ought to have followed the crash was magnified by the policies of the federal government during the administration of Herbert Hoover. In a paper for the National Bureau of Economic Research published last August, Lee E. Ohanian examines a continuing mistake during the Hoover administration that helped transform difficulty into calamity. An economics professor at UCLA, Ohanian has written numerous papers on the Depression. In one earlier paper, he pinned the persistence of high unemployment on...
  • Looking Back At the Great Depression – Tax Rates And More

    09/22/2009 10:20:47 AM PDT · by Biggirl · 4 replies · 435+ views ^ | September 22, 2009 | Steve McCough
    This is not inside-baseball economics stuff -- don’t be afraid. Arthur B. Laffer at the Wall Street Journal has a good historical review of the Great Depression and what happened with tax rates during the period. Laffer defines the beginning of the problem, the Smoot-Hawley tariff implemented in 1930.
  • Explaining Two Trade Busts: Output VS. Trade Costs In The Great Depression And Today

    09/20/2009 4:03:42 PM PDT · by blam · 43 replies · 1,062+ views
    VOX ^ | 9-19-2009 | Douglas L. Campbell David Jacks Christopher M. Meissner Dennis Novy
    Explaining Two Trade Busts: Output VS. Trade Costs In The Great Depression And Today Douglas L. Campbell David Jacks Christopher M. Meissner Dennis Novy 19 September 2009 Trade has declined massively during the crisis. This column assesses the relative roles of falling demand and rising trade costs in explaining the collapse and compares it to the Great Depression. Surprising, the increase in trade costs today is as large as in 1929, despite the absence of any modern protectionism resembling Smoot-Hawley. It appears that reviving global demand alone will be insufficient to revive world trade. If the world economy is now...
  • Rare Coins: Family Treasure or Ill-Gotten Goods?[1933 Double Eagle]

    09/17/2009 10:35:27 AM PDT · by BGHater · 65 replies · 3,116+ views
    The New York Times ^ | 15 Sep 2009 | JOHN SCHWARTZ
    Roy Langbord had guessed that someone in his family might have hidden away a great treasure decades before, but not until his mother had him check a long-neglected safe-deposit box did he realize just how great it was. Inside the box, opened in 2003, he found an incredibly rare coin, wrapped in a delicate paper sleeve. It was a gold $20 piece with Lady Liberty on one side, a bald eagle flying across the other and, at Liberty’s left, the four digits that made it so valuable: 1933. The famous “double eagles” from that year were never officially released by...
  • The Current Recession versus the Great Depression : A side by side comparison for perspective

    09/14/2009 4:11:50 PM PDT · by SeekAndFind · 13 replies · 1,615+ views
    Townhall ^ | September 14, 2009 | J. T. Young
    The economy's mild second quarter contraction has many proclaiming the recession over. Now is therefore a good time to survey the current recession so frequently compared to the Depression. It's natural to ask: how do these economic heavyweights measure up? When prizefighters step into the ring – a tale of the tape – a comparison of their primary physical attributes is revealing. A comparison of the economic and fiscal attributes is equally illustrative here.
  • Economists Worry POTUS Making Same Mistakes as FDR, Could Lead to Depression

    09/07/2009 4:07:42 PM PDT · by Shellybenoit · 16 replies · 848+ views
    UK Telegraph/The Lid ^ | 9/7/09 | The Lid
    One of the biggest myths about the great depression is that FDR's NEW Deal and the related government intervention and public works projects got us out of the Great Depression. The truth is that the New Deal did not work. Instead of creating growth in the private sector, it created government growth that squeezed out the private sector. Of course, the number one public golf course in the country Bethpage Black (where the US Open played this year) was a was a New Deal Federal works project, but that only cures MY depression, it did little for the country. As...
  • Blaming Hoover (for Helping Workers)

    08/31/2009 12:06:24 PM PDT · by reaganaut1 · 16 replies · 958+ views
    New York Times ^ | August 31, 2009 | Floyd Norris
    What caused the Great Depression? There are plenty of theories and arguments out there, and I don’t plan to review them. But a new one (at least new to me) is contained in a paper by Lee Ohanian, a U.C.L.A. economist, that was released today by the National Bureau of Economic Research. He blames Herbert Hoover. That is not exactly original; the Democrats ran against Hoover for a generation after he left office, much as some would now like to run against George W. Bush. But his criticism is that Hoover was too kind to workers, which is not exactly...
  • A Warning For Obama: President Hoover’s Fealty to Unions Worsened Great Depression

    08/30/2009 10:28:19 AM PDT · by Mobile Vulgus · 9 replies · 583+ views
    Publius Forum ^ | 08/30/09 | Warner Todd Huston
    An economist is saying that President Hoover set the stage to worsen The Great Depression because of his pro-labor union stance. Pro-labor policies pushed by President Herbert Hoover after the stock market crash of 1929 accounted for close to two-thirds of the drop in the nation's gross domestic product over the two years that followed, causing what might otherwise have been a bad recession to slip into the Great Depression, a UCLA economist concludes in a new study. Lee E. Ohanian, a UCLA professor of economics, lays the worst of the Depression at the feet of Hoover who, in his...
  • An Even Greater Depression?

    08/25/2009 8:35:11 PM PDT · by h20skier66 · 6 replies · 597+ views
    Commodity News Center ^ | 8/25/09 | Bud Conrad and David Galland
    While we aren't contrarian for the sake of being contrary, more often than not that is the position in which we find ourselves. Today, with the media falling all over itself to paint a rosy outlook for the economy while simultaneously voicing encouragement to the new administration in its remake of the nation in previously unimaginable ways, it's hard not to question our conviction that the worst is yet to come. Could the economy really recover this quickly from the traumatic trifecta of a record real estate bubble, leviathan levels of debt, and a global credit collapse? We don't see...
  • Bernanke: haunted by fear of another Great Depression

    08/25/2009 12:49:30 PM PDT · by Cheap_Hessian · 21 replies · 790+ views
    Breitbart (AFP) ^ | August 25, 2009
    Federal Reserve Bank chairman Ben Bernanke, who was reappointed to a second four-year term Tuesday, is a renowned expert on the Great Depression, driven to avoid a repeat of such devastation. Bernanke has earned plaudits for helping steer the US economy through one of its most perilous periods and toward recovery, with President Barack Obama repeatedly thanking him for his contribution. He was aided in his bid for a second term at the helm of the Fed by the strong working relationship he has forged with Democrat Obama's economic team -- despite being a holdover from George W. Bush's Republican...

    08/25/2009 7:03:34 AM PDT · by UncleVanya · 9 replies · 880+ views ^ | 08/24/09 | John Lounsbury
    Excerpt ... Assets for failures for [the current] crisis total $7.1 trillion to date. This is nearly eight times the assets compared with the inflation-adjusted total for the S&L crisis. The data for bank failures in the Great Depression is shown in the following table. The total deposits involved were about $7.6 billion over a span of 13 years. Adjusted for inflation, that is $100 billion in 2009 dollars. The size of the crisis today, adjusted for inflation, is more than 70 times larger than the entire Great Depression. It's unlikely that bank failures can peak until we are close...