Posted on 04/21/2009 6:09:11 PM PDT by pissant
One of the biggest problems in understanding today's economic conditions is figuring out how to place the Bush-Obama bailouts in proper perspective.
Comparisons with the Great Depression have become commonplace. Occasionally, for variety, we're told that the Panic of 1873 is relevant, or that the stagflation of the 1970s may have lessons to impart today.
Then there's Japan's circa-1990 crash and extensive experimentation with deficit spending and public works "stimulus," which ultimately left the Nikkei 225 average at less than one-quarter of its all-time low: 8,700 as of early Tuesday, down from an all-time high approaching 40,000 a generation ago.
(Excerpt) Read more at cbsnews.com ...
Had he really wanted to do something constructive (or least destructive among the destructive options of the left) he’d have just sent a check for $40,000 to every American. Same intergenerational debt but 100 times less boondoggle.
It is time for Americans to start thinking seriously about impeaching this so-called president. Wonder boy is incompetent. He is wasting TRILLIONS of our taxpayer dollars on an economic plan that has absolutely NO CHANCE of ever working.
Thanks for posting! I had seen comparisons like this to other recessions, but this is the first time I’ve seen comparison figures for the Great Depression. It’s pretty alarming.
Hummm... CBS must not want Obamarama to take the fall alone.
I finally got my OH?Bama stimulus package today. A pack of watermelon seed, six baby chicks and food stamps for a pound of surplus lard at the food bank...
And if I recall, Bush intended them as loans. There was even talk of making a profit for the feds. We’ve come a long way baby...
Obamaviagra, the stimulus that lasts more than four hours and will keep things stirred up for decades.
You better stash the lard before they ban it!
GADZ! Gramps is probably rolling over in his grave...the ground is probably shaking. I don’t think so. 80% of the people who have been laid off are men...it’s a sexist depression...besides, Gramps used to work for the Pennsy Railroad. During a flood after he went back to work in 1936, they tied him to the cow-catcher to push debrise off the track so the train could get through. OSHA would have had a fit. The EPA would be fining the railroad. The Unions would have said it was not his job... There is too much government today for it to be like the Great Depression of the 1930’s. Back then, people did have character.
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