Quote:
Originally Posted by Lord T Hawkeye
Since you asked so nicely...oh wait, no you didn't. You spewed insults in lieu of putting anything of value on the table. For that, I'd be entirely justified in blowing off your post.
There you go, history lesson for the day. Take note that the great depression started off not quite as bad as the previous two. |
Yes, monetary policy is a huge factor in the economy. (Well, duh), but the implication that hands off would solve all economic problems is BS.
If you measure the depression by GDP, Roosevelt's techniques DID start to turn things around, however slowly..
There is genuine debate on what caused the depression and how we got out.
If you read the imperfect wikipedia article, you will see a lot of debate on the topic and it's not 100% agreed on. shanedk is showing his point of view on the topic, not a true history.
http://en.wikipedia.org/wiki/Great_Depression
Here is another list of the causes...
http://americanhistory.about.com/od/...depression.htm
Another thing Cons and Libertarians seem to not care about
: Familes and kids starving and dying isn't the same as hitchhiking or having to walk to work, while your car is in the shop. Best do anything you can to try to save people. I've read that it's estimated a combined total of close to 12 million Americans died from starvation in Depression. A lot more would have died if nothing was done.
Yeah, the car was in the shop:
Another point is the claim that the unemployment rate after the crash was mild. Perhaps it was only mild because it was just the beginning?
And morphing Obama to Hoover and Bush is frankly idiotic, especially since it's the unregulated free marked that got us to our current "Great Recession." Conservative policy got us here. So, it's VERY misleading to say this is a history lesson, when it's clear the creator of the video has a very specific agenda and has twisted a few but not all of the facts.
I notice shanedk's GNP chart is a little off from the official one. How convenient.
Here's another one, showing that Shanedk's chart exaggerate's the 1937 recession.
However, the 1937 recession within a depression was partly caused by FDR's trying to balance the budget after his increased spending previously.
http://articles.moneycentral.msn.com...s-of-1937.aspx
Meanwhile, so far, Hoverbushbama as this tool would like to think of him, seems to have averted another great depression, perhaps by using the tools shandedk hates.
But, of course, the worst point he had was showing Astaire/Rogers and labelling it the roaring twenties. How dare he! HAHA Astaire/Rogers were musical stars in the 1930s. The first feature-length movie originally presented as a talkie was The Jazz Singer, released in October 1927. Sound movies didn't take over until... coincidentally around the start of the depression... Hmmmm... .