FDR Prolonged the Depression

[Bonestorm]

Gawd is us, therefore Gawd can't help but to 'save us' if any saving was done.

Again, I'll restate for Dung, if he does in fact want to participate in a side conversation.

It is my opinion that FDR, by doing something, did in fact help the economy recover. That Hoover started too late. Even though FDR continued the same processes started by Hoover he still gets the credit for them, which is all well and good.

I believe that he helped rather than hindered because people began to believe that there would be an end to the Depression and that became a self-fulfilling prophecy. Had he not spent in deficit but found some other way to get that belief out to people it would have had the same effect.

I respectfully decline.

 

[Damocles]

I respectfully decline.

Fair 'nuff.

 

[FUCK THE POLICE]

Well that's impressive if it's true. The Fountainhead doesn't really explain the why in terms of what's behind leftist thought.
Atlas Shrugged is required to really understand Rand, "We the living" and Anthem are not necessary.

Rand was anti-populist, so she'd despise the right of today.

 

[FUCK THE POLICE]

Just about the only thing Rand and I agree on is anti-populism.

 

[KingCondanomation]

Blame for Great Depression:

Monetary Policy = 70%
Hoover = 10%
FDR = 10%
Free Markets = 10%

So in my detailed scientific reserch Government policy is responsible for 90%.

But right after the Great Stock crash that bad Federal Monetary policy caused, the unemployment rate was only 7.8% (1930),
when the Smoot-Hawley tariff was passed, it jumped to 16.3% in 1931, 24.9% in 1932, and 25.1% in 1933.

Imports plunged 66% from US$4.4 billion (1929) to US$1.5 billion (1933), and exports fell 61% from US$5.4 billion to US$2.1 billion, both drops far more than the 50% fall in the GDP.

Not that I'm arguing that monetary policy wasn't a cause, it resulted in a downturn and a likely recession but it was Smoot-Hawley that effectively shut down trade and turned the normal ebb and flow of the market into a depression, and prolonged by FDR with more policies that further expanded government's role in the economy.

 

[Obfuscate]

The Fed was easy money in the 20's which caused the bust in the first place then they allowed the money supply to decrease by a third.

 

[DamnYankee]

No question? We get one paper from 2 UCLA economists and suddenly there is "no question" about this even though almost all other economists disagree with their conclusions?

Interesting.

You act like this was the only time its been discussed. People have been talking about this since the thing ended. Liberal economists disagree with me.

 

[DamnYankee]

What a moron! The Great Depresion was nearly 4 years old when FDR took office.

It took FDR about 3 years of hit or miss policies untill he adopted the economic policies of John Meynard Keynes and noted how the Swedish used deficit spending by the government to put money back in circulation. They were the first nation to recover from the Great Depresion by doing so.

I love these ideological second guessings of people who don't kwow what their talking about and haven't studied their history.

Keynesian economics. Yeah that works.

 

[FUCK THE POLICE]

Keynesian economics. Yeah that works.

You're an idiot if you think Keynesian economics has been "disproven". In fact, the tools Keynesians used correctly predicted that the market would pick up in 82, and Volker used these tools to correct the market, because he, like every serious modern economist, is neo-Keynesian.

 

[uscitizen]

And the those key dudes predicted the market would flop about now ? Maybe into depression ?