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Another Great Depression? (Thomas Sowell)
Townhall.com ^ | December 23, 2008 | Thomas Sowell

Posted on 12/22/2008 9:07:58 PM PST by jazusamo

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1 posted on 12/22/2008 9:07:58 PM PST by jazusamo
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To: jazusamo

What was so great about the first one?


2 posted on 12/22/2008 9:08:58 PM PST by Yo-Yo
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To: AbeKrieger; abigail2; Alia; Amalie; American Quilter; arthurus; awelliott; Bahbah; bamahead; ...



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3 posted on 12/22/2008 9:09:50 PM PST by jazusamo (But there really is no free lunch, except in the world of political rhetoric,.: Thomas Sowell)
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To: Yo-Yo

I’ve wondered why it’s named the Great Depression because it wasn’t great for those who went through it.


4 posted on 12/22/2008 9:12:42 PM PST by jazusamo (But there really is no free lunch, except in the world of political rhetoric,.: Thomas Sowell)
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To: jazusamo

That means Obama is going to need a war to get us out of the next depression, and save his ass.


5 posted on 12/22/2008 9:15:20 PM PST by Republic of Texas (Socialism Always Fails)
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To: Yo-Yo

The Great Depression was not like this one. “Great” means big.
This depression was caused by trying to create a “World Wide” Financial Network. It is world wide, and it is into our food supply, manufacturing and everything that there is.

Greenspan, Bernanke, and Henry Paulson had never done anything like this before, and they did not know what they were doing. If it were up to me, I would try them for treason. They have endangered the USA with their stupidity.


6 posted on 12/22/2008 9:17:02 PM PST by tessalu
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To: Republic of Texas

We are headed for a socialist authoritarian state. GWB planted the economic seeds and O will assure that the Constitution exists in name only.


7 posted on 12/22/2008 9:18:09 PM PST by Comparative Advantage
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To: Comparative Advantage

Headed? We are already a socialist state, and the authoritarian is about to be sworn in.

Welcome to the Dark Ages!


8 posted on 12/22/2008 9:20:08 PM PST by Republic of Texas (Socialism Always Fails)
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To: Republic of Texas

You are SO correct...


9 posted on 12/22/2008 9:21:04 PM PST by sionnsar (Iran Azadi|5yst3m 0wn3d-it's N0t Y0ur5 (SONY)|http://trad-anglican.faithweb.com/|RCongressIn2Years)
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To: Yo-Yo

This one will be wonderful.


10 posted on 12/22/2008 9:21:58 PM PST by tired1 (responsibility without authority is slavery!)
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To: jazusamo

(superl.) Long continued; lengthened in duration; prolonged in time; as, a great while; a great interval.
(superl.) More than ordinary in degree; very considerable in degree; as, to use great caution; to be in great pain.


11 posted on 12/22/2008 9:22:19 PM PST by eyedigress (All I want for Christmas is a nice blue barrel rifle.)
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To: jazusamo

The article said — “Five months after the Smoot-Hawley tariffs, the unemployment rate hit double digits for the first time in the 1930s.”

We don’t have to have anything like Smoot-Hawley tariffs now — because the banking and financial system is doing the same thing that Smoot-Hawley did before. Look for the double digits unemployment to happen in 2009 and the Great Depression to take hold then...


12 posted on 12/22/2008 9:22:48 PM PST by Star Traveler
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To: jazusamo

bump


13 posted on 12/22/2008 9:23:51 PM PST by VOA
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To: jazusamo

Barack Obama: Re-arranging deck chairs on the Titanic...


14 posted on 12/22/2008 9:24:37 PM PST by swordfishtrombone
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To: Star Traveler

“Look for the double digits unemployment to happen in 2009”

I’d be shocked if we don’t see 10%+ unemployment in 2009, particularly in the Northeeast and Midwest. Then, in 2010, inflation will begin it’s assent when all of this phoney money is disseminated into the marketplace by banks being coerced by Washington to lend.


15 posted on 12/22/2008 9:29:43 PM PST by Comparative Advantage
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To: Republic of Texas

I wonder who’s going to play the parts of Tojo and Yamamoto?


16 posted on 12/22/2008 9:30:07 PM PST by Emperor Palpatine ("I love democracy. I love Free Republic")
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To: Comparative Advantage

And, people wonder why I cried on Nov 4th.


17 posted on 12/22/2008 9:30:23 PM PST by goodnesswins ("Dissent is the highest form of patriotism" said Hillary Clinton. I'll be REALLY patriotic!)
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To: jazusamo

These government interventions are scaring the heck out of me. I have no doubt if it continues, there will be another great depression. Sadly, a great last line by Dr. Sowell.


18 posted on 12/22/2008 9:31:00 PM PST by TAdams8591 (The US is now a Bamana Republic!)
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To: swordfishtrombone
Barack Obama: Re-arranging deck chairs on the Titanic...

Were it so benign as that. It's more like he's ordering full steam ahead and a turn into the direction of the hole in the hull, while ordering all hatches open to facilitate movement of the crew.

19 posted on 12/22/2008 9:31:56 PM PST by El Gato ("The Second Amendment is the RESET button of the United States Constitution." -- Doug McKay)
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To: goodnesswins

Many Americans are just like small children, they have to learn the hard way. Unfortunately, they will be taking us all down with them.


20 posted on 12/22/2008 9:32:05 PM PST by Comparative Advantage
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