We Must Not Repeat the Great Depression

Family Security Matters ^ | 20 September | Dick McDonald

[politicket]

This article is too laced with Republicans -vs- Democrats.

They have BOTH created a huge pile of mess. The author needs to focus on the real, present economic condition and the best solution for it, versus turning their article into a political rant. This economy doesn't currently have time for that.

[politicket]

P.S.: McCain and Palin will inherit Bush’s current $700 Billion dollar buyout fiasco. It will run for 2 years (and won’t solve anything).

[K-oneTexas]

Historically speaking the Great Depression had about a 25% unemployment rate ... today ours is near 5%. Historically the agricultural base of the country collapsed ... today it has not.

Just two things we could compare though there are many more. We do have a financial crisis (Fannie Mae, Freddie Mac, AIG just the latest) but not an economic crisis. Not on the scale of the Great Depression. We may be in a recession, I don't think so yet when compared with past ones economically speaking. It may get there, it may not ... we'll just have to wait and see.

The worst part of this is use by the government of the socialist/communist tool of 'Nationalization'. Truman tried it by Executive Order in 1953 and was shot down by the USSC as unconstitutional. The USSC never said anything about Congress doing it, however the Constitution says laws passed by Congress are the Law of the Land just like the Constitution.

Will the USSC strike this 'nationalization' down? Our government is now the biggest mortgage lender/backer and insurance company in the country. Not their job!

[K-oneTexas]

I agree with you ... I posted the article to make people think. If all we want to do is point the finger at all Dems and Pubbies for causing the mess, well okay.

Since they aren't talking at their level on solutions, I thought that discussion might ensure here with real thought and less vindictive.

Guess I was wrong.

[itsPatAmerican]

agree. It’s about greed not politics.

[Texas_shutterbug]

Fat chance. After the Wall Street bailout, that is not going to happen.

There's no way taxpayers are going to agree to privatization without reasonable, but solid, regulations on Wall Street. And they have to know those regulations are being ENFORCED.

[Paperdoll]

It’s not up to us. It’s up to the puppeteers who have been calling the worldwide shots who have orchestrated the downfall of America to concentrate power to fewer people.

Google David Icke and watch his presentation. It is long, but well worth the watch.

[VRWC For Truth]

McLiberal won’t do what the articvle descibes. He’s the grand poobah of the ONE PARTY CARTEL in DC.

[P.O.E.]

Part of the Depression was low prices. Companies didn’t need to hire people because of productivity (industrialization) gains, farmers couldn’t sell their surplus for what it cost them. People were willing to work for pennies a day (even then, that wasn’t much).

The question is, do today’s Americans have the make-do spirit, thrift, and grit to bear a Depression.

[Texas_shutterbug]

When you factor in underemployment, people are hurting more than that 5% unemployment figure indicates.

Not to mention a tightening economy. Just in our situation, we are having to pay more and more for our health insurance, gas, and groceries, which means we've "felt" no increase in income despite the fact that we've gotten a decent raise. In fact, we're doing worse.

[Chaguito]

Our government is now the biggest mortgage lender/backer and insurance company in the country

And Obama didn't even have to lift a finger.

[org.whodat]

The author needs to focus on the real, present economic condition and the best solution for it, versus turning their article into a political rant. This economy doesn't currently have time for that.

Worshiping the golden god of economic expansion is what lead to this mess. There is time for the market to do it's will. Supply and demand would correct the problem if left alone.

[penelopesire]

“It’s about greed not politics”

It is about Democrat greed! Follow the money...the bulk of it is in democrat coffers!! Plenty of threads about it all right here on FR!

[politicket]

Guess I was wrong.

Don't get me wrong. I wasn't shooting the messenger - just stating how off-base the author was.

I think it's great to discuss solutions on this thread.

My offer of a solution is to let the market run its course with no federal bailouts. This will bring on a mini-depression, there will be massive job layoffs, many people who are unprepared will lose savings, 401K's, homes, etc.

However, this will cleanse the system.

The economy is going into the tank on an international scale quite soon. We might as well get it over with now. The actions of Bush, Bernanke, and Paulson on Thursday just bought us a little time for the inevitable.

[dalereed]

A repeat of the depression is exactly what we need but without the government handouts!

[AndyJackson]

It will run for 2 years (and won’t solve anything).

Yes, it bails out the crooks who have made a killing putting us in this position.

[politicket]

It is about Democrat greed!

It's about Human greed.

Are you willing to tell me that the lemmings that jumped into the market on Thursday and Friday with their speculative greed were just Democrats?

[Texas_shutterbug]

Are we going to work for substantially less while our taxes bail out the thieves on Wall Street?

If that happens, republicans will be thrown out of power for a couple of decades.

As for me, I'm a conservative - not a republican.

[AndyJackson]

And they have to know those regulations are being ENFORCED.

With seizures of assets and lengthy jail sentences, and not in club fed.