Obama's Depression

The Great Roosevelt Depression? So that was somehow HIS fault? Please explain this comment, if you can. Much like the current mess, Roosevelt inherited the Great Depression, given to him by his predecessor - again, much like the current mess.

 

Perhaps you should take the time to read the comments with which I respond to you, OldRegular. I already addressed that point.

You're just not very good at this......

 

1Co_10:31 So, whether you eat or drink, or whatever you do, do all to the glory of God.

If you believe your posts, regardless of how long you have been doing it, meet scripture then may the Lord bless each and everyone of them.

 

Thanks for your input, I guess......

Regards,
BiR

 

This from California of all places!:smilewinkgrin::applause::laugh:

FDR's policies prolonged Depression by 7 years, UCLA economists calculate

By Meg Sullivan August 10, 2004

Two UCLA economists say they have figured out why the Great Depression dragged on for almost 15 years, and they blame a suspect previously thought to be beyond reproach: President Franklin D. Roosevelt.

After scrutinizing Roosevelt's record for four years, Harold L. Cole and Lee E. Ohanian conclude in a new study that New Deal policies signed into law 71 years ago thwarted economic recovery for seven long years.

"Why the Great Depression lasted so long has always been a great mystery, and because we never really knew the reason, we have always worried whether we would have another 10- to 15-year economic slump," said Ohanian, vice chair of UCLA's Department of Economics. "We found that a relapse isn't likely unless lawmakers gum up a recovery with ill-conceived stimulus policies."

In an article in the August issue of the Journal of Political Economy, Ohanian and Cole blame specific anti-competition and pro-labor measures that Roosevelt promoted and signed into law June 16, 1933.

"President Roosevelt believed that excessive competition was responsible for the Depression by reducing prices and wages, and by extension reducing employment and demand for goods and services," said Cole, also a UCLA professor of economics. "So he came up with a recovery package that would be unimaginable today, allowing businesses in every industry to collude without the threat of antitrust prosecution and workers to demand salaries about 25 percent above where they ought to have been, given market forces. The economy was poised for a beautiful recovery, but that recovery was stalled by these misguided policies."

http://newsroom.ucla.edu/portal/ucla/FDR-s-Policies-Prolonged-Depression-5409.aspx

 

It is also a fact that while Roosevelt's policies kept the United States in depression Hitler built up, from the ashes of defeat in WWI, the greatest war machine in history until that time.

 

http://www.salon.com/2009/01/02/sirota_fdr_depression/

Not all economists agree with OldRegular's source.

 

Thanks, hope all is well with you, too. :flower:

Do you concede that the last 2 years of the Bush term was with a Democratic controlled House and Senate? Thus, the mess. A fine mess they Pelosi and Reid got us in to.....

Now here is a bit of info from the web.....

http://thehill.com/blogs/on-the-mon...00-unemployed-will-lose-benefits-over-weekend

What are people going to do? Jobs, jobs, jobs.....

 

David Sirota is not an economist. He is a journalist, with a major in political science. And, he's a hack.

 

He is also a liar:

"George W. Bush insisted Iraqi airplanes were about to drop WMD on American cities."

But what can one expect from Salon?

 

So, is anything that David Sirota (someone I have met, by the way) writes at this link either false, misleading or untrue? If so, please provide proof of this.

Regards, hope you're playing bluegrass,
BiR

 

What ? You crack me up. I've met lots of people, too.

He is not an economist, so he should not be called one.

 

Getting the thread back on track!

Looking at unemployment statistics it appears that unemployment really started to tank after the 2008 election and hit the skids after the inauguration in 2009. Could it be that business and financial institutions realized that the electorate has shafted everyone with the election of a Marxist street organizer?

http://data.bls.gov/timeseries/LNS14000000

Labor Force Statistics from the Current Population Survey

Original Data Value

Year Jan Feb Ma Ap May Jun Jul Au Sep Oct No Dec
2002 5.7 5.7 5.7 5.9 5.8 5.8 5.8 5.7 5.7 5.7 5.9 6.0
2003 5.8 5.9 5.9 6.0 6.1 6.3 6.2 6.1 6.1 6.0 5.8 5.7
2004 5.7 5.6 5.8 5.6 5.6 5.6 5.5 5.4 5.4 5.5 5.4 5.4
2005 5.3 5.4 5.2 5.2 5.1 5.0 5.0 4.9 5.0 5.0 5.0 4.9
2006 4.7 4.8 4.7 4.7 4.6 4.6 4.7 4.7 4.5 4.4 4.5 4.4
2007 4.6 4.5 4.4 4.5 4.4 4.6 4.7 4.6 4.7 4.7 4.7 5.0
2008 5.0 4.9 5.1 5.0 5.4 5.6 5.8 6.1 6.1 6.5 6.8 7.3
2009 7.8 8.3 8.7 8.9 9.4 9.5 9.5 9.6 9.8 10. 9.9 9.9
2010 9.7 9.8 9.8 9.9 9.6 9.4 9.5 9.6 9.5 9.5 9.8 9.4
2011 9.1 9.0 8.9 9.0 9.0 9.1 9.1 9.1 9.0 8.9 8.7 8.5
2012 8.3 8.3 8.2 8.1

Recall that the recession supposedly started in December 2007 but unemployment soared over a year later under Obama and has stayed there because of his Marxist ideology!