What Ended the Great Depression
- Thread starter GURPS
- Start date
Larry Gude
Strung Out
Not one word of where we were in 2008 and why. Not one.
Not one word of where we were and why prior to the depression.
It is no more accurate, or educational, to talk about FDR in a vacuum than it is to talk about Obama today as though the 5-10 years before him didn't happen and he just, magically appeared, like FDR, and just starting trashing the place.
The tax cut inspired 'super growth' of the early 20's are properly understood as a bubble growing. It has to burst at some point. If you moderate it before it bursts, the explosion isn't as bad. We had a bubble growing before 2008 and we even had a president who was aware of it, talked about it and said we needed to start letting some pressure out of it but, he didn't act until it was too late and then, he acted in the worst possible way, TARP, which had FAR more impact on the last 6 years than President Obama's absurd political payoff stimulus.
TARP may well have prevented the crash of 1929 and that is what Bernanke and Paulson and Geithner had in mind, especially Bernanke whose big claim is his knowledge of the Great Depression. Right solution, 79 years late. Like most generals, they fought the last war and used a 1929 solution to try and fix a 2008 problem and that, more than anything else, is why we have this destruction of the middle class today and huge growth on the top and the bottom.
FDR made enormous, long lasting mistakes. Obama is as well. But, neither of them, nor their times, just appeared out of thin air.
Not one word of where we were and why prior to the depression.
It is no more accurate, or educational, to talk about FDR in a vacuum than it is to talk about Obama today as though the 5-10 years before him didn't happen and he just, magically appeared, like FDR, and just starting trashing the place.
The tax cut inspired 'super growth' of the early 20's are properly understood as a bubble growing. It has to burst at some point. If you moderate it before it bursts, the explosion isn't as bad. We had a bubble growing before 2008 and we even had a president who was aware of it, talked about it and said we needed to start letting some pressure out of it but, he didn't act until it was too late and then, he acted in the worst possible way, TARP, which had FAR more impact on the last 6 years than President Obama's absurd political payoff stimulus.
TARP may well have prevented the crash of 1929 and that is what Bernanke and Paulson and Geithner had in mind, especially Bernanke whose big claim is his knowledge of the Great Depression. Right solution, 79 years late. Like most generals, they fought the last war and used a 1929 solution to try and fix a 2008 problem and that, more than anything else, is why we have this destruction of the middle class today and huge growth on the top and the bottom.
FDR made enormous, long lasting mistakes. Obama is as well. But, neither of them, nor their times, just appeared out of thin air.
I kept looking for ;
The Real Story About What Ended the Great Depression (Hint: It Wasn’t the New Deal)
the article only really says FDR's programs and 100% tax sucked
Larry Gude
Strung Out
It's an awful piece. It seems the only intention was to discuss what it could NOT have been and, lacking ANY context, that is absurd.
Really bad, awful piece.
LibertyBeacon
Unto dust we shall return
What is it you're looking for, Gomer? I'll see if I can accommodate.
Here you go. Your first problem is that you post something from Stephen Moore. Mr. Moore is not an economist he is a political operative for the right just like Robert Reich is a political operative for the left.
Your source, as usual, sucks.
God damn this is an idiotic article that is obviously written for idiots who have no concept of history...and certainly no concept of the economics.
Here's a hint for you and the rest of the morons who read dribble like this: The causes, duration and ultimate end of the Great Depression was much more involved than US taxes and spending as your asinine article suggests.
Did you even bother to notice that Mr. Moore never bothers to give his theory on what ended the Great Depression? (Probably not). His entire article is a masterful job of half truths and omissions...his employer, Fox News, should be proud.
The Great Depression didn't start in or only affect the US...the 20s growth had very little to do with tax cuts. There are a number of well written, non-conspiracy type books out there about the Great Depression...find some and read them.
Any Presidential Administration will make mistakes, but the "enormous mistakes" of the US in the 30s were made by our Federal Reserve and the "enormous mistakes" of 2008-current were made by Congress.
TARP was not , despite your repeatedly incorrect claims, an enormous mistake. There is no point in rehashing why you are wrong, but you are. The QE programs are much more debatable and controversial, but TARP isn't. There were a number of problems with the stimulus of 2009...the most critical were that is was too small and took long to get money into the economy.
TARP would not have prevented the stock market crash of 1929, that was a silly comment. A TARP-like program may have helped prevent the over 4000 banks that closed in 1931 or 1932. THAT was one of the lessons of the Great Depression. Our fledging Federal Reserve also needed to flood the system with money. We didn't do that either and in fact we raised interest rates just as the economy appeared to be pulling out of the Depressing (1937 maybe?) and we tumbled back down.
Like most topics discussed on this site, the Great Depression had in its causes, effects and solutions and GREAT many moving parts. The events are not as Mr. Moore puts forth in his silly article and you do with your constant ranting about TARP, simple occurrences that were the result of simple issues and could have been resolved with simplistic solutions.
BAM!, Larry....just BAM!. No way you could ever refute or argue a statement like that. 
Larry Gude
Strung Out
She is so HOT when she does that.
dontknowwhy
New Member
She is so HOT when she does that.
Like Mimi from the Drew Carey show HOTT!!
With so many books written about the Great Depression, what are some titles that you feel are non-conspiracy? TIA
Tommy likes Grapes of Wrath. She still has a major crush on Hank Fonda too.
FollowTheMoney
New Member
What Ended the Great Depression?
WWII ended it. And since, conveniently, most all of Europe's manufacturing capabilities were destroyed, as that of Japan's, ours took off. Armament factories were retooled and we began supplying the world with American made goods. Of course the banks made out like the bandits that they are by financing both sides. Hence, all wars are bankers wars. It was the banks that put us in the depression, like today's, and it was the banks that made the wars happen to get us out. Exactly the same thing that is happening today. Again we are in a depression, and again more wars are being fought to keep the money game going. But today, we don't make anything. We only export weapons of war. Our manufacturing capabilities have been decimated without one bomb hitting a factory. Millions upon millions of people laid off from those manufacturing jobs. Monetary inflation running rampant. 1 in 3 with no job. Food costs soaring. Home sales tanking. Home owners forced to be renters. (foreclosed) Homelessness increasing. Poverty at all time highs. All because of the bankers and a fiat currency.
What ended the Great Depression? It's still happening today. It never ended.
WWII ended it. And since, conveniently, most all of Europe's manufacturing capabilities were destroyed, as that of Japan's, ours took off. Armament factories were retooled and we began supplying the world with American made goods. Of course the banks made out like the bandits that they are by financing both sides. Hence, all wars are bankers wars. It was the banks that put us in the depression, like today's, and it was the banks that made the wars happen to get us out. Exactly the same thing that is happening today. Again we are in a depression, and again more wars are being fought to keep the money game going. But today, we don't make anything. We only export weapons of war. Our manufacturing capabilities have been decimated without one bomb hitting a factory. Millions upon millions of people laid off from those manufacturing jobs. Monetary inflation running rampant. 1 in 3 with no job. Food costs soaring. Home sales tanking. Home owners forced to be renters. (foreclosed) Homelessness increasing. Poverty at all time highs. All because of the bankers and a fiat currency.
What ended the Great Depression? It's still happening today. It never ended.