CrusaderFrank
Diamond Member
- May 20, 2009
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Which explains the wonderful job the "markets" did for the poor before FDR stepped in.Geezus, they got nuttier and more stupid as time goes on. This moron might beat Billy Triple Fail in the stupid department.
No, dope. We dont worship the market. We recognize the market does a superior job of allocating resources than government control does.
Go take an Econ course and come back.
...and gave us an economy with 20% average unemployment for 8 years.
Awesome work, FDR
You guys are masters at blaming a President for things that were made inevitable before his term even started.
Wahhhh wahh wahhhhhh Poor Poor Obama, the most helpless greatest President Ever!
You'll never be able to prove that any other person would have more successfully dealt with the Great Depression than FDR did, nor with the Great Recession than Obama did.
FDR sucked giant Alaskan moose cock. Here's how real men handled a Depression
The Forgotten Depression of 1920
"The economic situation in 1920 was grim. By that year unemployment had jumped from 4 percent to nearly 12 percent, and GNP declined 17 percent. No wonder, then, that Secretary of Commerce Herbert Hoover — falsely characterized as a supporter of laissez-faire economics — urged President Harding to consider an array of interventions to turn the economy around. Hoover was ignored.
Instead of "fiscal stimulus," Harding cut the government's budget nearly in half between 1920 and 1922. The rest of Harding's approach was equally laissez-faire. Tax rates were slashed for all income groups. The national debt was reduced by one-third.
The Federal Reserve's activity, moreover, was hardly noticeable. As one economic historian puts it, "Despite the severity of the contraction, the Fed did not move to use its powers to turn the money supply around and fight the contraction."[2] By the late summer of 1921, signs of recovery were already visible. The following year, unemployment was back down to 6.7 percent and it was only 2.4 percent by 1923.