Posted on 09/28/2022 8:32:52 AM PDT by TigerClaws
In his first inaugural address in March 1933, President Franklin D. Roosevelt said: “So, first of all, let me assert my firm belief that the only thing we have to fear is fear itself.”
It was the Great Depression. The unemployment rate was over 25 percent. An estimated 12 million people were out of work, about one-fourth of the civilian labor force. “More than 11,000 of 24,000 banks had failed, destroying the savings of depositors,” according to the National Archives. 7 ways to lower your credit card debt after the Fed rate hike Fast forward to now, and as bad as things are — rising interest rates, high inflation, stock market tumbling — the economy hasn’t imploded as it did during the Great Depression.
(Excerpt) Read more at msn.com ...
A recession with inflation is dangerous. MSN needs to be disbanded and hang.
Read this 2009 article on “funemployed” about Obama’s economy.
“For the ‘funemployed,’ unemployment is welcome”
https://www.latimes.com/local/la-me-funemployment4-2009jun04-story.html
This is beyond the pale.
The Great Depression and a World War did wonders for extending the misrule of FDR from one term to four . . . and in growing and centralizing the reach of Fedzilla. Just sayin’
Everybody said home prices were out of control.
Now they are having a fit as price increases are moderating.
Everybody said interest rates were too low for years.
Now they are having a fit over interest rates going up.
Everybody said the boom would go bust.
Now they are having a fit because finally the required recession is here to clean up the excesses. What always follows booms? What always follows busts?
This is why most people don’t build an economic foundation. They are woefully uneducated about financial matters.
Just like Obama’s “funemployment”
And inflation "is an asset!"
-Brandon
Regards,
Hmmm....I wonder which government entity was mostly responsible for this? Hmmm...I wonder which one?
It can happen again, and very soon, perhaps next month into year-end. If you have large deposits, withdraw cash now. Before the banks deny you access to your savings. As they fail, they will claim bail-in rights and convert your cash accounts to shares of the bank - which will guarantee destruction of your savings. Always good to have cash on-hand at home when the banks go under.
Friday at PMSNBC: “7 positive benefits to castration with a rusty, dull knife”
Agree
Media = Democrat Party Owned
The great depression was massive DEFLATION.
This time it’s different.
That said, a lot of people got rich off the great depression. And some industries thrived.
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