Posted on 12/22/2008 9:07:58 PM PST by jazusamo
Gerald Celente predicts food riots by 2012. It makes one wonder.
Most likely with Iran.
NAFTA trade with Mexico has really elevated both of our economiesIndeed it has.
At the onset of an inflation, the price level can actually fall because people, as their estate begins to lose value, contract spending and prices of goods that remain unsold in larger amounts must be reduced in price, often at a rate that more than offsets tha inflation in order to clear the market. That flood of new nominal money reverses that apparent trend after a short time.
A mild deflation, such as we had from the mid eighties until 2001 or so can be politically beneficial because labor "unrest" largely disappears when wage earners do not feel pressed by rising prices and stagnant wages. Their wages, while not increasing nominally, continually buy a little more. In an inflation wages do not keep up with prices and labor "unrest" - strikes and the like, tend to increase.
Why do we think Roosevelt's spending on the economy worsened the depression, but the war spending helped lift us out?Unemployment vanished with war spending.
China will be the new Japan.
No argument from me about the AP. It is totally a propaganda agency. Absolutely worthless, and that is why the Newspapers are dying. It is about content, not media.
Unfortunately they “own” the print media. Very few papers understand that this is killing them. Those that do feel powerless to fix it, because they can only fix it with employees who think, are informed, and give an honest effort at expressing where we really are.
Downsizing, cost cutting, efficiency only mentality have destroyed worthwhile content.
There are exceptions that are often referenced here. For the most part: IBD, WSJ, and a few Regional Papers.
The Vedder and Gallaway statistics allow us to follow unemployment month by month. They put the unemployment rate at 5 percent in November 1929, a month after the stock market crash. It hit 9 percent in December-- but then began a generally downward trend, subsiding to 6.3 percent in June 1930.That was when the Smoot-Hawley tariffs were passed, against the advice of economists across the country, who warned of dire consequences.
Five months after the Smoot-Hawley tariffs, the unemployment rate hit double digits for the first time in the 1930s.
These are stats that are small enough for me to commit to memory, for the next time someone mentions the great FDR.
This stuff can’t be repeated often enough and it is to the ever lasting shame of educators in the US, dating from the time of FDR, that this wasn’t taught in school. Fat chance of anything like this being taught now!
He has a war. He just needs to fight it, and rally the American people.
If Bush had rallied the country to fight rather than tell us to go to the Mall we wouldn’t be discussing the next Great Depression.
Obama needs to ask for sacrifices from all America so we can defeat Islam once and for all. Yeah...that means we ration. That means we form civilian defense. That means we start growing our own food.
It is just a matter of time before this koranimals start attacking us here. I suspect when we finally get our Beslan here in the US that government will finally get serious. The people will demand it.
ping
Very good point in regards to the four years or more ahead which don't look good. It is so frustrating that Dr. Sowell and people like him are ignored by our so called leaders, how ignorant and arrogant they are!
Thanks for you previous post and the link to The New Dealers' War.
Good point...It always irks me when someone speaks of the great FDR and how he saved the country.
It may have made a difference assuming Smoot-Hawley never passed. You still had the death of the Federal Reserve governor that allowed interest rates to be raised. The balanced budget gospel back then was also a problem.
Slightly OT, but can anyone give me a quick review of Dr Sowell’s book “Applied Economics”? I’m considering using my Barnes & Noble gift card for it (I do already have “Basic Economics”)
Merry Christmas/Happy Chanukah!
Bump for later perusal...
Thomas Sowell Ping
Thankya, an enlightening thread indeed!
It;s not ther banks which have led to this debacle.
It’s rest with the regulations and mandates forced on to the banks. Sub prime loans.
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