FDR's Inaugural speech

Stop being such a stupid fuck. I know you know that Hoover was one of our LEAST laissez-faire presidents. He instituted price controls and tried to orchestrate government intervention, worsening the Depression.

Blaming the Depression on "free markets" or "laissez-faire" is ignorant at best and dishonest revisionism at worst.
 
Epicurus said:
Stop being such a stupid fuck. I know you know that Hoover was one of our LEAST laissez-faire presidents. He instituted price controls and tried to orchestrate government intervention, worsening the Depression.
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You're right Epi. The Hoover dam caused the great depression. It was the greatest government intervention in history.
 
Read up or shut up.

[ame]http://en.wikipedia.org/wiki/Herbert_Hoover[/ame]

As the United States Secretary of Commerce in the 1920s under Presidents Warren Harding and Calvin Coolidge, he promoted government intervention under the rubric "economic modernization"

That position was challenged by the Great Depression, which began in 1929, the first year of his presidency. Hoover tried to combat the Depression with volunteer efforts and government action, none of which produced economic recovery during his term. The consensus among historians is that Hoover's defeat in the 1932 election was caused primarily by failure to end the downward spiral into deep Depression, compounded by popular opposition to prohibition.

A dedicated Progressive and Reformer, Hoover saw the presidency as a vehicle for improving the conditions of all Americans by regulation and by encouraging volunteerism. Long before he entered politics he denounced laissez-faire thinking.[11] As Commerce Secretary he had taken an active pro-regulation stance. As President he helped push tariff and farm support bills through Congress.

At the outset of the Depression, Hoover claims in his memoirs that he rejected Treasury Secretary Mellon's suggested "leave-it-alone" approach,[13], critics, on the other hand, accuse Hoover of sharing Mellon's laissez-faire viewpoint. It is often inaccurately stated that Herbert Hoover did nothing while the world economy eroded. President Hoover made several attempts to stop "the downward spiral" of the Great Depression, however his policies had little or no effect. He organized a number of voluntary measures with businesses, encouraged state and local government responses, and accelerated federal building projects. Only toward the end of his term did he support a series of legislative solutions.
 
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The key, however, is the statement:

As the economy quickly deteriorated in the early years of the Great Depression, Hoover declined to pursue legislative relief, believing that it would make people dependent on the federal government.
 
... You're a fucking moron. We're done here.

Anyone who is actually interested in educating themselves about the root causes of the Great Depression can read for themselves.
 
Epicurus said:
... You're a fucking moron. We're done here.

Anyone who is actually interested in educating themselves about the root causes of the Great Depression can read for themselves.
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Epi, I wrote an entire ten page report critiscizing FDR's handling of the economy. I know the ups and downs of the New Deal, and I know that Hoover did practically nothing.
 
Watermark said:
Epi, I wrote an entire ten page report critiscizing FDR's handling of the economy. I know the ups and downs of the New Deal, and I know that Hoover did practically nothing.
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Pantie-wetting stuff, kid.

Then you know that Hoover should NEVER be described as laissez-faire.
 
He organized a number of voluntary measures with businesses, encouraged state and local government responses, and accelerated federal building projects. Only toward the end of his term did he support a series of legislative solutions.
 
Watermark said:
LOL

You know, most conservatives today have abandoned hating FDR. Not DANO! If we would've just left Hoover in power longer the great depression would've suddenly ended.
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Of course not, Hoover was almost as bad as FDR, Coolidge was the one who had it right.

When Hoover faced a downturn with unemployment increasing to nearly 8%, he caved into stupid leftwing populism and approved the Smoot-Hawley Tariff Act which effectively shut down trade.
http://en.wikipedia.org/wiki/Smoot-Hawley_Tariff_Act
Over 1000 economists signed a petition against it and for good reason as unemployment shot up to double digits and stayed there.

Unemployment was at 7.8% in 1930 when the Smoot-Hawley tariff was passed, but it jumped to 16.3% in 1931, 24.9% in 1932, and 25.1% in 1933.[11]

Do not buy the left's popular version of FDR's Socialism saving America from the Repubs Capitalism, it was a myth and the numbers show it.
 
Watermark said:
Epi, I wrote an entire ten page report critiscizing FDR's handling of the economy. I know the ups and downs of the New Deal, and I know that Hoover did practically nothing.
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Oh yeah, epi wrote an 11 page term paper about it in Jr high so there!

LOL. This thread is hysterical.

I have about half a shelf of books on the new deal years. But never wrote no term papers guys. You guys are cute.
 
KingCondanomation said:
Of course not, Hoover was almost as bad as FDR, Coolidge was the one who had it right.

When Hoover faced a downturn with unemployment increasing to nearly 8%, he caved into stupid leftwing populism and approved the Smoot-Hawley Tariff Act which effectively shut down trade.
http://en.wikipedia.org/wiki/Smoot-Hawley_Tariff_Act
Over 1000 economists signed a petition against it and for good reason as unemployment shot up to double digits and stayed there.

Unemployment was at 7.8% in 1930 when the Smoot-Hawley tariff was passed, but it jumped to 16.3% in 1931, 24.9% in 1932, and 25.1% in 1933.[11]

Do not buy the left's popular version of FDR's Socialism saving America from the Repubs Capitalism, it was a myth and the numbers show it.
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Protectionism was a squarely Republican position Dano. Have you ever heard of economic nationalism?

But the right-wing protectionist Smoot-Hawley was opposed by the left, who eventually repealed it. It didn't entirely cause the great depression though.
 
Epicurus said:
Stop being such a stupid fuck. I know you know that Hoover was one of our LEAST laissez-faire presidents. He instituted price controls and tried to orchestrate government intervention, worsening the Depression.

Blaming the Depression on "free markets" or "laissez-faire" is ignorant at best and dishonest revisionism at worst.
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They are doing it again this year with after mammoth growth in government involvement and spending, they are blaming current economic problems on the "free market" because we all know Bush is a Repub and they just MUST be free market Capitalists.

Obama will continue Bush's growth of government and blame him for the bad result he will get, just like FDR continued Hoover's and blamed him for ongoing shitty unemployment rate.

"We didn't admit it at the time, but practically the whole New Deal was extrapolated from programs that Hoover started." - Rexford Guy Tugwell (one of the architects of Franklin Roosevelt's policies of the 1930s)
 
Watermark said:
Protectionism was a squarely Republican position Dano. Have you ever heard of economic nationalism?

But the right-wing protectionist Smoot-Hawley was opposed by the left, who eventually repealed it. It didn't entirely cause the great depression though.
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That's why I said leftwing populist and not Democrat. Many of the Repubs at the time were leftwing populists advocating less trade and more tariffs. It was hardly just a Repub position, FDR never repealed it and it didn't start to end until after WWII.
 
The most hilarious thing to me is that it was the collapse of Fannie and Freddie (quasi-government entities) that really started this, and now it's being blamed on the free market.

As if the free market had anything whatsoever to do with buyers investing more and more in these securities, thinking they were backed by the Feds.
 
Epicurus said:
The most hilarious thing to me is that it was the collapse of Fannie and Freddie (quasi-government entities) that really started this, and now it's being blamed on the free market.

As if the free market had anything whatsoever to do with buyers investing more and more in these securities, thinking they were backed by the Feds.
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Actually, it was not Fannie and Freddie that really started this. Fannie and Freddie had little to do with subprime mortgages. Subprime mortgages are by definition non-Fannie and Freddie compliant. Fannie and Freddie did eventually get into the subprime game, but very late, and only purchased A- mortgages, not the lower grade mortgages. Fannie and Freddie didn't develop the subprime loans, lenders and brokers did. Fannie and Freddie didn't roll those loans into CDOs and other securities, bankers did. Fannie and Freddie didn't buy up the CDOs and leverage the shit out of them, bankers did. Fannie and Freddie suffered from the collapse of the value of the mortgages that they actually held, but were not the root cause of the collapse.
 
KingCondanomation said:
That's why I said leftwing populist and not Democrat. Many of the Repubs at the time were leftwing populists advocating less trade and more tariffs. It was hardly just a Repub position, FDR never repealed it and it didn't start to end until after WWII.
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During those times free trade was left wing. Even the socialists supported free trade.
 
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