Keyword: greatdepression

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  • Unsustainable model: Economist says 'balanced budget' adage doesn't work

    01/22/2017 7:13:32 PM PST · by Tolerance Sucks Rocks · 39 replies
    The Montana Standard ^ | January 22, 2017 | Tom Lutey
    BILLINGS -- As bipartisan crowd-pleasers go, few get Montanans nodding more approvingly than calls for a balanced federal budget, which is why U.S. Sen. Steve Daines recently offered a bill forcing his peers to go unpaid unless they reign in spending. “As I travel around Montana, as I did in December wrapping up a 56-county tour, when I talk about this bill, it’s a bill that will literally bring applause from across the state,” Daines told The Gazette. The state of Montana balances its budget. The federal government should do the same, or so goes the narrative that literally every...
  • The Smoot-Hawley Tarrif and the Great Depression

    12/23/2016 5:08:47 PM PST · by Crucial · 47 replies ^ | 02/29/2012 | Thomas Phalan, Deema Yazigi, Thomas Rustici
    Few areas of historical research have provoked such intensive study as the origins of America’s Great Depression. From 1929 to 1933 America suffered the worst economic decline in its history. Real national income fell by 36 percent; unemployment increased from 3 percent to over 25 percent; more than 40 percent of all banks were permanently closed; and international investment and trade declined dramatically. The dimensions of the economic catastrophe in America and the rest of the world from 1929 to 1933 cannot be captured fully by quantitative data alone. Tens of millions of humans suffered intense misery and despair. Because...
  • The Humungous Depression

    05/19/2016 8:32:54 AM PDT · by Lorianne · 7 replies
    Burning Platform, the ^ | 16 December 2015 | Robert Gore
    We are not in a recession. We are in a depression, and have been since the turn of the century ___ Economic depressions unfold slowly, which obscures their analysis, although they are simple to understand. Governments and central banks turn recessions into depressions, which are preceded by unsustainable expansions of debt untethered from the real economy. The reduction and resolution of excess debt takes time, and governments and central banks usually act counterproductively, retarding necessary adjustments and lengthening the adjustment, and consequently, the depression. If one dates the beginning of a depression from the beginning of the unsustainable expansion of...
  • No, Really. It’s a Depression

    04/12/2016 6:06:25 PM PDT · by Sean_Anthony · 5 replies
    Canada Free Press ^ | 04/12/16 | Dr. Bruce Smith
    Remove the burden of government • Restore the Constitution, rule of law • Limit the power of the Federal Reserve, regulatory agencies • Stop redistributing wealth It was my great good fortune to be a son of depression parents. My mother and father were born in the early 1920s. They were observant, sensitive, thoughtful parents who took the time to tell stories. They reflected on and spoke of their early years often to their sons, sharing the hopes and fears of their upbringing as we grew up ourselves. They showed us how to observe the world around us. One set...
  • Who is "Economy in Crisis"?

    03/30/2016 1:21:12 PM PDT · by Uncle Miltie · 50 replies
    Economy In Crisis ^ | 03-30-2016 | Economy in Crisis Website
    The rapid deterioration of our economy is attributable to the wholesale liquidation of our best companies to foreign interests. The U.S. has sold more than 16,000 of our best companies in the last 30 years to these foreign interests. This trend erodes our ability to generate earnings, and tax revenues to sustain our current standard of living – resulting in our reliance on imports thus creating uncontrolled and escalating foreign debt. Holding our debt our jobs and the production of our goods, foreign countries have ultimate leverage over our policies and our future. If we allow this to continue, it...
  • Opinion: Chilling ways the global economy echoes 1930s Great Depression era

    02/19/2016 5:55:43 AM PST · by John W · 22 replies ^ | February 19, 2016 | John Coumarianos
    One view of what caused the Great Depression in the 1930s is that the Federal Reserve failed to prevent a collapse in the money supply. This is the famous thesis of Milton Friedman's and Anna Schwartz's A Monetary History of the United States, 1867-1960, and it was, more or less, the view of Ben Bernanke when he was chairman of the Federal Reserve. The global economy today resembles that of the 1930s in several ominous ways. Financial author Edward Chancellor recently called attention to a paper written by Caludio Borio, head economist at the Bank of International Settlements, that provides...
  • Pearl Harbor 2.0

    12/07/2012 6:18:42 PM PST · by Theoria · 14 replies
    Time ^ | 07 Dec 2012 | John Koster
    The “infamy” of December 7, 1941, is deeper than most Americans have ever imagined. The Japanese attack on Pearl Harbor was almost certainly the result of a Soviet plot—“Operation Snow”—carried out by Harry Dexter White, a figure of enormous influence in the Roosevelt administration and a known Soviet spy. Americans remember Pearl Harbor as the work of a Japanese military machine hell-bent on a war of conquest. The truth is more complicated. The imperial regime had faced severe political shocks throughout the 1930s. Two attempts on the life of Emperor Hirohito—one by a Japanese communist whose father was a member...
  • Millennials Are Coming of Age in a Depression -- They Just Don't Know It (Rush Limbaugh)

    10/14/2015 9:14:02 PM PDT · by Vision Thing · 38 replies
    Rush Limbaugh ^ | October 14, 2015 | Rush Limbaugh
    BEGIN TRANSCRIPT RUSH: I mentioned to you last week that I had a story about how what we are living through right now is actually worse than the Great Depression and why nobody knows. I went back to my archives, and I got that story, and I have it here. Open borders, bigger government, free college for everybody. How many people already have free college by virtue of having their student loans forgiven or what have you? Everything these people have tried has not worked, so they want to try even more of it. "Bigger welfare state. Get rid of...
  • Pin the Tale on the Donkey: Democrats' Horrible Racist Past

    07/05/2015 9:22:39 PM PDT · by Enlightened1 · 17 replies
    PJ Media via Youtube ^ | 07/02/15 | Bill Whittle
    The Dems want to pin the Confederate Flag, KKK, Great Depression, urban decay, and harsh marriage laws on the GOP... pin the tale on the Donkey instead!
  • $100 Trillion American Economic Collapse with Jim Rickards

    12/11/2014 8:11:12 AM PST · by Ghost of SVR4 · 11 replies
    Youtube ^ | Oct 21, 2014 | Jim Rickards
    I don't know too much about Jim Rickards, just found this to be an interesting video about the overall economy and some tidbits about what our government agencies are up to. The video is a 45 minutes long interview of sorts and discussion. Just posting in the event other are interested.
  • A Book for the People of Ferguson -- And Oppressed People Everywhere (Book review & article)

    09/15/2014 2:59:42 AM PDT · by 2ndDivisionVet · 3 replies
    The American Prospect ^ | September 14, 2014 | Peter Dreier
    Fred Ross's change-making Axioms for Organizers is updated for the Internet age, and for a new generation battling discrimination and police brutality.Most residents of Ferguson, Missouri, have probably never heard of Fred Ross, Sr., but they could use his help now. Ferguson's population is two-thirds African American, but the mayor, almost all members of the city council and school board, and 95 percent of the police department is white, and in last year's municipal election only 7 percent of blacks came to the polls. Ross—perhaps the most influential (but little-known) community organizer in American history—had a successful career mobilizing people...
  • Cashin: Excess bank reserves are a worrying 1930s parallel

    08/26/2013 8:18:41 PM PDT · by upbeat5 · 21 replies ^ | August 26, 2013 | Paul Toscano
    Inflation has been notably absent from the economy this summer, despite bullish moves in gold and a continued debate over the tapering of asset purchases by the Federal Reserve. According to Art Cashin, director of floor operations at UBS Financial Services, the central bank's effect on the financial system has worrying parallels to the period leading up to the Great Depression. "The weak data that we've gotten, particularly the housing on Friday, hints that tapering may be held back or may not be a factor, " Cashin told "Squawk on the Street" on Monday. "Many of the proponents of gold...
  • Employment Doom Rattling Media

    08/25/2013 1:45:52 AM PDT · by Kaslin · 28 replies ^ | August 24, 2013 | John Ransom
    Unemployment is not getting better, it’s getting worse. Even the establishment media is taking notice. “Widely followed pollster Gallup puts the nation's unemployment rate at an ugly 8.6 percent in August,” reports CNBC, “a startling jump from the 7.8 percent the organization recorded for July. When counting the underemployed, the rate zooms to 17.7 percent, off its 2013 high of 18.2 percent.” If you count in those who have dropped out of the work force, you get closer to 24 percent unemployment. Gee, and all this time I thought that the job situation was getting better. That’s what we were...
  • This Administration Comes With a Laugh Track

    08/19/2013 3:23:42 AM PDT · by Kaslin · 4 replies ^ | August 19, 2013 | John Ransom
    For staggering sum of $47 trillion dollars, one would think that perhaps this administration could afford a soundtrack under their reckless spending, like the 1970’s Bionic Man had when his binary powers took over. An original-score sound bed would add drama and color to the spending. The theatrical effect would be that it would make us feel like the spending was doing something. Instead, all Obama got us was the royalty-free laugh track. Through 2023 the Office of Management and Budget reports that the accumulated spending by the federal government since the One took over will be $46.5 trillion under...
  • Milton Friedman and Restraint: The Fed failed as lender of last resort in the Great Depression

    08/12/2013 7:38:40 AM PDT · by SeekAndFind · 18 replies
    National Review ^ | 08/11/2013 | Rand Paul
    Lovers of Big Government and apologists for debt like Paul Krugman have tried to paint Milton Friedman as a contradiction. They say that Friedman’s insight that more Fed intervention might have mitigated the Great Depression is inconsistent with his view that the Depression would have been less severe without the Fed. Krugman can typically be discounted because his partisanship diminishes his perceptiveness. It is, however, disappointing when National Review joins the fray and publishes opinion claiming that Friedman “would likely have supported a much more aggressive monetary response to our economic downturn.” Professor Ivan Pongracic of Hillsdale College explains that...
  • Harding Dies — Coolidge Takes Charge

    08/02/2013 8:54:03 AM PDT · by Kaslin · 12 replies ^ | August 2, 2013 | David Stokes
    Ninety years ago today, on August 2, 1923, President Warren G. Harding died at the Palace Hotel in San Francisco, California. It was sudden, shocking, and has been fodder for conspiracy theorists ever since. His wife, Florence—described derisively by some as “The Duchess”—didn’t allow an autopsy, so we’ll never know exactly what caused the demise of the 29th President of the United States. It might have been congestive heart failure, or food poisoning, or even something more sinister. Seen in retrospect, through the prism of the scandals associated with his White House tenure, Harding is usually ranked well toward the...
  • Obamanomics to Blame for Worst Recession Since the Great Depression

    06/07/2013 10:17:17 AM PDT · by Perseverando · 13 replies
    The New American ^ | June 4, 2013 | Bob Adelman
    When libertarian scholar Peter Ferrara asked rhetorically in Sunday’s issue of Forbes, “Economically, Could Obama Be America’s Worst President?” he relied heavily on statistics provided by the chief enabler of the Great Recession, the Federal Reserve. Noting that the policies of President Obama have done nothing to stimulate the economy but plenty to keep it from growing, he used recent economic recoveries as prime examples of what recoveries would look like if government would stay out of the way: The right measure and comparison for Obama’s record is not to compare the recovery to the recession, but to compare Obama’s...
  • What Will Happen When The Government Collapses?

    04/29/2013 9:11:55 AM PDT · by Perseverando · 109 replies
    The Western Center for Journalism ^ | Arpil 27, 2013 | Floyd Brown
    Yesterday, my colleague, Marty Biancuzzo, explained why America is on a path to inevitable economic and government collapse. After reading Marty’s piece, another colleague asked me: What will America look like after a government collapse? It’s an important question, and I want to give a satisfactory answer. But I can’t do that in one short column, so I plan to return to this topic several times over the next few weeks. I hope that when I’m done, you will have a better understanding of where the country is headed. Now, consider our current situation… It’s clear that Barack Obama and...
  • Europe’s Second Depression: A Correction (Worse Than Great Depression)

    03/30/2013 9:46:08 AM PDT · by blam · 4 replies
    NYT ^ | 3-30-2013 | Paul Krugman
    <p>Europe in 2013 has recovered worse from its slump than Europe in 1935. Again, great work, guys.</p>
  • Millennials Are Starting To Act Like The Great Depression Generation

    02/22/2013 8:32:32 AM PST · by SeekAndFind · 20 replies
    Business Insider ^ | 02/22/2013 | Monica Nickelsburg
    Unofficial millennial spokesperson Lena Dunham, while incisive and entertaining, is not the voice of my generation. On Dunham's buzzy dramedy Girls, self-involved twenty-somethings balk at $12 salads by day and guzzle $14 cocktails by night while parents bankroll their "groovy lifestyles." It's an enticing narrative. But these stereotypes fail to recognize some rapidly evolving trends among young echo boomers entering adulthood. Millennials, typically defined as anyone born after 1980, make up an enormous and diverse generation, but many of them share a common experience — entering adulthood during the country's greatest economic downturn since the 1930s. The financial duress of...
  • In 1929, Deflation Started In Europe Before Overtaking The U.S.

    11/30/2012 3:50:10 PM PST · by blam · 23 replies
    EWI ^ | 11-30-2012 | EWI
    In 1929, Deflation Started In Europe Before Overtaking The U.S. Economics / DeflationNov 30, 2012 - 05:23 AM By: EWI What Happens in Europe Will Not Stay in Europe More than 1,500 years after the fact, scholars still debate the causes of the Roman Empire's fall. What historians do agree on is that the crumbling empire's final days were marked by economic contraction, a struggle to fund Rome's routine affairs and excessive debt. Sound familiar? Mark Twain said, "History doesn't repeat itself, but it does rhyme." That quote seems to apply when economically comparing the Roman Empire and the United...
  • Iconic NY Steakhouse "Gallagher's", Which Survived The Great Depression, Is Closing

    10/26/2012 7:46:56 AM PDT · by Qbert · 8 replies
    Zero Hedge ^ | 10/25/2012 | Tyler Durden
    The Department of Labor's WARN (Worker Adjustment and Retraining Notification) website may have been exempt from layoff notices related to the fiscal cliff, but it still provides a sufficiently (bleak) complete picture about the real nature of layoffs and business cycle in general in America's busiest city. Which is why it was precisely using the WARN website that we learned that one of New York's most historic steakhouses, "NY's Prime Steakhouse since 1927" Gallagher's, located on 52nd street, and which survive the great depression, is shutting down on January 16. Surely neither the surging price of meat, nor the ability...
  • How America Got Rich

    09/13/2012 11:13:17 AM PDT · by neverdem · 19 replies
    Commentary ^ | September 2012 | Arthur Herman
    If you want to understand how the United States became the most prosperous society in the world, start with the ballpoint pen. László Bíró, a Hungarian who had fled the Nazis and gone to Argentina, invented the first working solid-ink pen. When the owner of Goldblatt’s department store in Chicago showed the contraption to a passing salesman named Milton Reynolds, Reynolds decided he could do it better. The year was 1944. American factories were producing a warplane every five minutes, 150 tons of steel every hour, eight aircraft carriers a month. Milton Reynolds knew nothing about this kind of heavy...
  • Thanks Obama - Here Are 24 Stats That Show How Much You Have Royally Messed Up Our Economy

    08/23/2012 9:44:46 AM PDT · by blam · 16 replies
    TAD ^ | 8-23-2012 | Michael Snyder
    Thanks Obama - Here Are 24 Stats That Show How Much You Have Royally Messed Up Our Economy By Michael Snyder August 23st, 2012 Under Barack Obama, the U.S. economy has performed worse than it did under any other president since the end of the Great Depression. After every other recession since World War II, the U.S. economy always regained what was lost and got even stronger before the next recession began. During this "economic recovery", we have not even come close to getting back to where we were in 2008. In fact, the number of Americans living in poverty...
  • Fiscal Cliff = “Enormous Hit” to the Economy, Holtz-Eakin Says

    07/20/2012 12:34:42 PM PDT · by Kartographer · 7 replies
    Yahoo The Daily Ticker ^ | 7/20/12 | Stacy Curtin
    America is headed for a fiscal cliff if members of Congress fail to act before the end of the year. Many economists agree that if no action is taken, 2013 will begin with a $600 billion drag on the economy, or a 4 to 5 percent hit to GDP, due to a combination of tax hikes and budget cuts set to take effect. To put that in perspective, the knock to economic growth could be twice as much as current GDP growth forecasts for all of 2012 and more than any annual GDP growth in the last decade. Former Treasury...
  • Obama Redux? Welcome to Argentina

    07/12/2012 8:04:35 AM PDT · by Kaslin · 2 replies ^ | July 12, 2012 | Peter Ferarra
    With a second term for Obama, the world-leading America we have known and hoped to leave to our children will be gone. Last Friday's jobs report confirms that Obama is well on his way to transforming America into a third world country, with declining living standards and perpetual economic stagnation. Argentina enjoyed the world's fourth highest per capita GDP in 1929, on par with America at the time. But then the nation lost its way in embracing a leftist, union allied government, which took control of the economy and imposed wildly irresponsible taxes, spending, deficits, and debt. After World War...
  • From Soup To Nuts.

    06/11/2012 11:23:38 AM PDT · by ^ | June 11 2012 | Skip MacLure
    Some of the most enduring images of the great depression of 1929-1939 are those of long lines of obviously beaten-down men in soup lines… hungry women and children with haunted eyes. Shantytowns sprang up all over the country, called Hoovervilles in mocking derision of the disastrous policies that engendered the crash and the even worse schemes which perpetuated the depression until 1939 and the advent of the Second World War. Twenty five per cent unemployment… some eleven million three hundred thousand people lost their jobs, homes and farms, out of a pre-depression population of 120 million. Contrast that to today,...
  • Never-before-seen pictures capture everyday life of destitute Americans during the Great Depression

    06/09/2012 9:30:09 AM PDT · by djone · 80 replies
    Mail Online ^ | 6/8/12 | SNEJANA FARBEROV
    "And you thought it was bad now... Since the onset of the recession in 2007, pundits have compared the crisis to the Great Depression of the 1930s - but this week's release of 1,000 photographs from that bygone era serves as a reminder of how truly harsh that period was. "
  • The Great Road: The Story of Frederick Road

    01/22/2012 10:17:21 PM PST · by Tolerance Sucks Rocks · 8 replies
    Montgomery Village Patch ^ | January 22, 2012 | Susan Soderberg
    Traveled by Native Americans, presidents, generals, gypsies and families seeking a new life in the west, “The Great Road,” known today as Frederick Road or Route 355, provided a path for both the adventurer and the entrepreneur. As the main route northwest from Georgetown, the last port on the Potomac River, it was heavily traveled from the mid 18th century until it was replaced by Interstate 270 in the 1960s. It began as an Indian trail leading from the Piscataway settlement at the mouth of Rock Creek to the great “Conestoga,” a trail that included footpaths and waterways (what we...
  • Fed Warns Unemployment May Double Great Depression

    11/27/2011 5:29:36 AM PST · by radioone · 103 replies
    Big Government ^ | 11-25-11 | Chriss W. Street
    I warned last week that a recession and higher unemployment were about to hit the U.S. economy. On Tuesday, the Bureau of Economic Analysis cut their estimate of growth in the third quarter ending September from 2.5% to 2%. Then on Wednesday, the Federal Reserve rocked financial markets by forcing America’s 31 largest U.S. banks to “stress test” balance sheets to determine their capability to withstand an 8% drop in the economy; which would cause home prices to plunge by 21%, and unemployment rate to jump to 13%.
  • 10 Lessons From People Who Lived Through The Depression

    11/21/2011 7:22:27 PM PST · by Kartographer · 58 replies
    Wanda Bridgeforth was hit hardest on the home front as a child, when her parents couldn't afford to keep her with them. At one point she lived with 19 people—in a six room house. It was in these situations that she learned to conserve what she had, and reuse what she found.
  • Obama: Campaigning Like It's 1936

    11/01/2011 3:21:58 AM PDT · by TYVets · 13 replies
    Forbes ^ | 10/28/2011 | Merrill Matthews
    By August of 1935, Roosevelt had achieved some of his signature pieces of legislation: a new entitlement program known as Social Security, banking reform, pro-union reform, infrastructure expansion and massive transfers of wealth to the poor and middle classes. Sound familiar?
  • Slouching toward the 1930s (We are headed for an unavoidable event worse than the Great Depression)

    10/31/2011 6:49:53 AM PDT · by SeekAndFind · 23 replies
    American Thinker ^ | 10/30/2011 | Monty Pelerin
    The current economic crisis rivals the one of the 1930s.  Despite shameless propaganda by government and its cronies in the media, people understand that the situation is getting worse.  Consumer confidence continues to decline as does confidence in the future.We are headed for an event that history will record as worse than the Great Depression.  It is unavoidable.The Level of DebtThe principal reason for the dire prediction is the level of debt outstanding.  Current debt levels are simply not sustainable.  Assets and cash flows cannot support or service this debt.No economic recovery can occur without massive debt reduction.  As...
  • Zuccotti perv: Fiend attacks protester in her tent (Sex assault last night, rape coverup earlier...)

    10/30/2011 5:04:35 AM PDT · by jimbo123 · 47 replies
    NY Post ^ | 10/30/11 | KEVIN FASICK and CANDICE M. GIOVE
    Wall Street protesters in Zuccotti Park battened down the hatches yesterday as the early October snow turned their tents into igloos, but the close quarters also made easy pickings for one predator. A sex fiend barged into a woman’s tent and sexually assaulted her at around 6 a.m., said protesters, who chased him from the park.
  • A Repeat of the Great Depression Is Our Best Case Scenario

    09/20/2011 10:32:40 AM PDT · by Kartographer · 23 replies
    SHTF ^ | 9/20/11 | Mac Slavo
    The mood in the room was definitely that this country is heading towards some kind of collapse, some kind of significant disaster. That everything kind of is lined up and nobody, really, in the political realm, out there in the culture seems to have solutions… … If we look long-term. If we look at the structural problems of the United States, at over $100 Trillion in unfunded liabilities, of ongoing deficits, of no political solutions, of nobody talking about real cuts, where does this all lead? … Unless we have real structural change I think it will [lead to disaster]…...
  • No, Paul Krugman, WWII Did Not End The Great Depression

    08/26/2011 9:19:33 AM PDT · by SeekAndFind · 39 replies
    Forbes ^ | 08/25/2011 | Bill Flax
    It’s a recurring fantasy for left wing academics fascinated by central planning that in cyclical downturns government should act decisively on a scale equivalent to war. Nobel Prize recipient Paul Krugman exemplifies this intellectual longing to steer our lives. Krugman effortlessly slides into a war footing espousing intervention comparable to America’s crusade against Hitler, who, take note, centrally planned an economy himself: “World War II is the great natural experiment in the effects of large increases in government spending, and as such has always served as an important positive example for those of us who favor an activist approach to...
  • Great Myths About the Great Depression Still Abound

    08/22/2011 12:24:02 PM PDT · by MichCapCon · 35 replies
    Capitol Confidential ^ | 8/21/2011 | Tom Gantert
    “FDR fixed the economy with make-work jobs,” a recent headline stated. Jennie Phipps, an contributor, wrote in her Aug. 15 story: “When I was growing up, my mother thought Franklin Delano Roosevelt sat at the right hand of God, mostly because he found a way out of the Great Depression by putting people to work through such government programs as the Civilian Conservation Corp. and the Works Projects Administration.” (Editor's Note: The actual names of the programs were the Civilian Conservation Corps and the Works Progress Administration.) But some economic historians believe Phipps has bought into one of...
  • FDR's Policies Prolonged The Great Depression By 7 Years

    08/22/2011 8:44:06 AM PDT · by To-Whose-Benefit? · 21 replies
    UCLA Newsroom ^ | August 10, 2004 | Meg Sullivan
    Government Bailouts, Pump Priming, Interference, Whatever you want to call it, it Doesn't Work, & the numbers have already been crunched, & documented. By Meg Sullivan August 10, 2004 Two UCLA economists say they have figured out why the Great Depression dragged on for almost 15 years, and they blame a suspect previously thought to be beyond reproach: President Franklin D. Roosevelt. After scrutinizing Roosevelt's record for four years, Harold L. Cole and Lee E. Ohanian conclude in a new study that New Deal policies signed into law 71 years ago thwarted economic recovery for seven long years. "Why...
  • How Hitler and FDR actually ended the Great Depression

    08/18/2011 11:51:30 AM PDT · by markomalley · 54 replies
    WaPo ^ | 08/18/2011 | Ezra Klein
    I’m a bit late to commenting on Christina Romer’s Sunday op-ed on monetary policy and the Great Depression, but it makes a point that bears repeating. The story most of us know about the Great Depression, the one in which Herbert Hoover screws up but then Franklin Delano Roosevelt comes in and hires people to paint murals and repair roads and defeat Hitler and that solves the problem, is wrong, or at least incomplete. Monetary policy — Boring, hard-to-understand, no-one-likes-to-talk-about-it, increases in the money base — was really the key to getting the economy back on track.To get even more...
  • Obama's Depression by Other Means

    08/05/2011 1:28:20 PM PDT · by Kaslin · 13 replies
    Townhall. ^ | August 5, 2011 | Bill Tatro
    Having used the “D” (depression) word for what we will experience over the next few years instead of the “R” (recession) word, I’ve been inundated with emails and texts that say I’m simply out of touch with reality. So, for everyone who disagrees with me, let me provide a clear dose of reality by revisiting the past. Most people have an image of the 1930’s and the Great Depression as a time period of monumental job loss, vast family dislocation, widespread famine, and severe uncertainty. The typical head of household toiled daily in order to put bread on the table...
  • FDR's policies prolonged Depression by 7 years, UCLA economists calculate (warning from 2004)

    08/04/2011 3:49:15 PM PDT · by Lou Budvis · 28 replies
    UCLA Newsroom ^ | August 10, 2004 | Megan Sullivan
    Two UCLA economists say they have figured out why the Great Depression dragged on for almost 15 years, and they blame a suspect previously thought to be beyond reproach: President Franklin D. Roosevelt. After scrutinizing Roosevelt's record for four years, Harold L. Cole and Lee E. Ohanian conclude in a new study that New Deal policies signed into law 71 years ago thwarted economic recovery for seven long years. "Why the Great Depression lasted so long has always been a great mystery, and because we never really knew the reason, we have always worried whether we would have another 10-...
  • Could You Survive Another Great Depression?

    07/21/2011 12:33:22 PM PDT · by Kaslin · 159 replies · 1+ views ^ | July 21, 2011 | Paul Kengor
    I just read two very interesting articles on the U.S. economy, written from historical perspectives. They compelled me to share my own historical perspective. And what I want to say is more about our changing culture than our economy. One of the articles, by Julie Crawshaw of, notes that the "Misery Index"—the combined unemployment and inflation rates—made infamous under President Jimmy Carter, has hit a 28-year high. It's also 62 percent higher than when President Obama took office. But that's nothing compared to Mort Zuckerman's article in U.S. News & World Report. Zuckerman measures the current situation against the...
  • CBS: Chronic unemployment worse than Great Depression

    06/06/2011 9:34:07 AM PDT · by Justaham · 48 replies ^ | 6-6-11 | Ed Morrissey
    The media began the weekend making unfavorable comparisons between Barack Obama’s economy and the Great Depression, and now they’re beginning the week with another one — and this one’s more accurate. CBS delved into the jobless numbers and discovered that the percentage of unemployed who have been out of work for more than six months now exceeds that of the 1930s economic collapse: There is an unfortunate adage for the unemployed: The longer folks are out of a job, the longer it takes them to find a new one. CBS News correspondent Ben Tracy reports that the chronically unemployed face...
  • Rare Library of Congress colour photographs of the Great Depression

    05/18/2011 8:08:53 AM PDT · by AnAmericanAbroad · 36 replies
    Daily Mail Online ^ | 05/18/2011 | Daily Mail Reporter (staff)
    It was an era that defined a generation. The Great Depression marked the bitter and abrupt end to the post-World War 1 bubble that left America giddy with promise in the 1920s. Near the end of the 1930s the country was beginning to recover from the crash, but many in small towns and rural areas were still poverty-stricken. These rare photographs are some of the few documenting those iconic years in colour. The photographs and captions are the property of the Library of Congress and were included in a 2006 exhibit Bound for Glory: America in Color. The images, by...
  • 43% Say Government Policy Mistakes Created Great Depression of 1930s, 26% Disagree

    02/13/2011 9:05:00 AM PST · by reaganaut1 · 36 replies
    Rasmussen Reports ^ | February 10, 2011
    Economists still argue about what caused the Great Depression of the 1930s and what got the nation out of it. But 43% of Likely U.S. Voters think government policy mistakes converted a normal recession into an unprecedented Depression. A new Rasmussen Reports national telephone survey shows that just 26% disagree, and 31% are not sure. The Smoot-Hawley Tariff Act of June 1930, signed by President Herbert Hoover, dramatically raised U.S. tariff rates and is often cited as a contributing cause of the Depression. Within a few years, world trade fell by more than 50%. The Federal Reserve also dramatically cut...
  • The Not-So-Great Recession (Our present situation does not resemble the Great Depression)

    10/18/2010 8:24:07 AM PDT · by SeekAndFind · 27 replies
    National Review ^ | 10/18/2010 | Samuel R. Staley
    The National Bureau of Economic Research has declared that the Great Recession ended in June 2009. At first glance, some may see the end of the recession as vindication of the White House’s stimulus and its other aggressive fiscal-policy initiatives. But a closer look at the numbers suggests the president and his economic advisers may have significantly misdiagnosed the nature of the recession. President Obama frequently invokes the specter of the Great Depression in speeches to the public, knowing full well that the reference conjures up images of mass unemployment, breadlines, and despair. In one of his more recent high-profile...
  • Echoes of the Great Depression

    09/30/2010 11:57:13 PM PDT · by iowamark · 17 replies
    Wall Street Journal ^ | 10/.01/2010 | Phil Gramm
    As in the 1930s, policy uncertainty and hostility to business have retarded recovery. At least this time around the political price for economic failure promises to be swift. This may not be your grandfather's Great Depression, but many aspects of today's situation would remind him of the 1930s. If the recession that officially ended a year ago feels uncomfortably surreal to you yet familiar to him, it's probably because the recovery went missing. During the average recovery since World War II, gross domestic product (GDP) surpassed the pre-recession high five quarters after the recession began. It has never taken longer...
  • 1920: The Great Depression That Wasn't (How Warren Harding avoided it and what we can learn)

    09/22/2010 6:31:25 AM PDT · by SeekAndFind · 26 replies
    RealClearMarkets ^ | 09/22/2010 | CJ Maloney
    The Panic of 1920 started out as a contender for the greatest depression of all time, with a drop in prices and production during its first twelve months that dwarfed those of any other economic crash, and she piled on an unemployment rate that skyrocketed from invisible to 12% in a flash. Ignoring calls to do something, anything, to "help", Washington, DC simply allowed the economy to adjust wherever it chose to go. In tandem, Federal Reserve officials looked upon the rapid deflation in prices not with horror but with a declaration of its necessity. Yet, despite the lack of...
  • Rosenberg: Here Are 13 Signs That We're Actually In A

    09/07/2010 4:28:16 PM PDT · by Kartographer · 5 replies
    BusinessInsider ^ | 9/7/10 | Gregory White
    David Rosenberg has outlined, in his latest letter, the 13 reasons with this so-called recovery is actually a depression. Rosenberg sums it up like this: This is what a depression is all about — an economy that 33 months after a recession begins, with zero policy rates, a stuffed central bank sheet, and a 10% deficit-to-GDP ratio, is still in need of government help for its sustenance. Each one of these 13 reasons is more damning and highlights the true state of the economy: caught in a liquidity trap with little way out.
  • Catastrophic Failure Of Leadership: US Birthrate Falls To Lowest Level In 100 Years

    08/30/2010 4:13:54 PM PDT · by Michael Eden · 25 replies · 1+ views
    Start Thinking Right ^ | August 30, 2010 | Michael Eden
    Have you heard? America's birth rate is lower than at any time in the last last 100 years. There seems to be something profoundly wrong with Obama's central message of hope and change. There is something profoundly wrong with Obama's "fundamental transformation" of America. 22/08/2010 Recession effect? US birth rate lowest in 100 yrsMilkwujee [sic]: The US birth rate has dropped for the second year in a row, and experts think the wrenching recession led many people to put off having children. The 2009 birth rate also set a record: lowest in a century. Births fell 2.7 per cent last...