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Even Worse Than the Great Depression
Smart Money ^
| March 6, 2009
| Donald Luskin
Posted on 03/06/2009 9:24:14 PM PST by FocusNexus
So let me do the preachers of Armageddon one better. Today's stock market isn't just the âworst since the Great Depression,â like they're so fond of saying. No, it's even worse than the Great Depression.
Take a look at the chart, below. It shows the daily progress of the S&P 500 in terms of percentage change from the very top. The brown line is the change from the recent all-time highs on October 9, 2007. The blue line is the change from the all-time highs just before the Great Depression, September 6, 1929.
As of yesterday's close (Thursday, March 5), the S&P 500 has lost 56.4% from its all-time highs 513 days ago. At the same point in the bear market associated with the Great Depression, that is at the 513 day mark, the S&P 500 had only lost -- only! -- 49%.
(Excerpt) Read more at smartmoney.com ...
TOPICS: Business/Economy; Editorial; Government; Politics/Elections
KEYWORDS: bho44; bhoeconomy; bhomarketcrash; bhorecession; donluskin; economy; greatdepression; greatoppression; greatopression; luskin; market; obama; obamabearmarket; obamamarketcrash; opression; recession; stockmarket
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To: FocusNexus
Welcome to the Great O-Pression.
2
posted on
03/06/2009 9:27:00 PM PST
by
bigcat32
To: bigcat32
3
posted on
03/06/2009 9:28:51 PM PST
by
TAdams8591
(Bush's recession, Obama's depression.)
To: FocusNexus
4
posted on
03/06/2009 9:29:07 PM PST
by
FocusNexus
("Good and evil are present in this world, and between the two there can be no compromise." GW Bush)
To: FocusNexus
We're in the Obama Depression.
Lamh Foistenach Abu!
5
posted on
03/06/2009 9:29:09 PM PST
by
ConorMacNessa
(HM/2 USN, 3/5 Marines, RVN 1969. St. Michael the Archangel defend us in battle!)
To: FocusNexus
No matter how bad he says it is, it will be 1,000,000 times worse.
Radioactive mutants. Radroaches. A barren wasteland with scorched trees and horrid scrub brush will hid the mangled corpses and gnawed bones of the lucky -- those who died early.
This is the reality. We will scavange bent-tin cans for a few coins, as the radioactive wind howls over us. Get used to it.
6
posted on
03/06/2009 9:30:23 PM PST
by
Lazamataz
("We beat the Soviet Union, then we became them." -- Lazamataz, 2005)
To: FocusNexus
FDR’s policies prolonged Depression by 7 years, UCLA economists calculate
http://newsroom.ucla.edu/portal/ucla/FDR-s-Policies-Prolonged-Depression-5409.aspx
“The fact that the Depression dragged on for years convinced generations of economists and policy-makers that capitalism could not be trusted to recover from depressions and that significant government intervention was required to achieve good outcomes,” Cole said. “Ironically, our work shows that the recovery would have been very rapid had the government not intervened.”
7
posted on
03/06/2009 9:31:17 PM PST
by
FocusNexus
("Good and evil are present in this world, and between the two there can be no compromise." GW Bush)
To: Lazamataz
8
posted on
03/06/2009 9:33:02 PM PST
by
Enterprise
(A Representative Republic - gone now. Foolish people.)
To: FocusNexus
I'm trying to figure out how NOT to PARTICIPATE........crickets.....
9
posted on
03/06/2009 9:33:04 PM PST
by
goodnesswins
(Conservative and fighting for freedom and liberty....whether you like it or not.)
To: FocusNexus
And if our government had learned anything from the "Great Depression," they'd be cutting taxes all over the place.
Reagan did it, but, hey, liberals hate him.
I was there and Reagan's plans worked. Obama's an idiot.
10
posted on
03/06/2009 9:34:14 PM PST
by
HoosierHawk
(Democrats - Looting American citizens for generations to come.)
To: Enterprise
Barack Obama welcomes you into the Oval Office.
11
posted on
03/06/2009 9:35:41 PM PST
by
Lazamataz
("We beat the Soviet Union, then we became them." -- Lazamataz, 2005)
To: bigcat32
12
posted on
03/06/2009 9:36:31 PM PST
by
null and void
(We are now in day 44 of our national holiday from reality.)
To: Lazamataz
Is that Fallout?
If it is i got it, how is it?
13
posted on
03/06/2009 9:38:06 PM PST
by
mowowie
To: Lazamataz
14
posted on
03/06/2009 9:38:06 PM PST
by
Boucheau
To: Lazamataz
...cats sleeping with dogs...
15
posted on
03/06/2009 9:38:29 PM PST
by
null and void
(We are now in day 44 of our national holiday from reality.)
To: FocusNexus
To: Lazamataz
LOL. You got some great pictures there of my old neighborhood.
17
posted on
03/06/2009 9:39:45 PM PST
by
Enterprise
(A Representative Republic - gone now. Foolish people.)
To: null and void
“Im stealing that.”
Spread the sentence. It’s catchy, it’s appropriate and I stole it.
18
posted on
03/06/2009 9:40:19 PM PST
by
bigcat32
To: bigcat32
19
posted on
03/06/2009 9:40:52 PM PST
by
null and void
(We are now in day 44 of our national holiday from reality.)
To: HoosierHawk
From the UCLA professors' study:
"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- to 15-year economic slump," said Ohanian, vice chair of UCLA's Department of Economics. "We found that a relapse isn't likely unless lawmakers gum up a recovery with ill-conceived stimulus policies."
And guess what the Dems are doing-- exactly enacting "ill conceived stimulus policies" that prolonged the great depression and is pushing us into a "greater depression" right now.
The worst part is that most people don't understand what Obama is doing to us, they still cling to him as a "savior".
20
posted on
03/06/2009 9:41:17 PM PST
by
FocusNexus
("Good and evil are present in this world, and between the two there can be no compromise." GW Bush)
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