CrusaderFrank
Diamond Member
- May 20, 2009
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The Great Depression StatisticsDid Jake ever explain why he believes a 21% average unemployment over 7 years is great
Show where I said they were great. I can show you that Hoover's policies set up the worst damage and that the UE was coming down before conservative economic legislation crippled the recovery. GNP under Hoover almost fell by 50%, while GNP grew steadily for FDR other than one year where the conservative legislation really hurt it.
If you only understood the figures. Read them and weep.
1929 to 1933 Hoover 1933 to 1940 FDR
US Gross Domestic Product (current dollars)
The Great Crash, 1929-1933
in 1929: $103.6 billion
in 1930: $91.2
in 1931: $76.5
in 1932: $58.7
in 1933: $56.4
New Deal Recovery and Recession, 1934-39
in 1934: $66.0 billion
in 1935: $73.3
in 1936: $83.8
in 1937: $91.9
in 1938: $86.1
in 1939: $92.2
Government Expenditures and Investments (in current dollars)
Hoover Administration, 1929-1939
in 1929: $9.4 billion
in 1930: $10.0
in 1931: $9.9
in 1932: $8.7
Average government spending as percentage of GDP, 1929-32: 12.0%
Roosevelt's New Deal
in 1933: $8.7 billion
in 1934: $10.5
in 1935: $10.9
in 1936: $13.1
in 1937: $12.8
in 1938: $13.8
in 1939: $14.8
Average government spending as percentage of GDP, 1933-39: 15.4%
Average rate of unemployment underline is Jake's point
in 1929: 3.2%
in 1930: 8.9%
in 1931: 16.3% Hoover's failed policies do not help
in 1932: 24.1% Hoover's failed policies begin kicking in
in 1933: 24.9% Hoover's failed policies really kick in
in 1934: 21.7% Deficit spending begins working
in 1935: 20.1% Deficit spending working
in 1936: 16.9% Deficit spending working
in 1937: 14.3% Deficit spending working
in 1938: 19.0% failure conservative economic legislation
in 1939: 17.2%3 failure conservative economic legislation
Jake, you should write comedy.
First does your doppelganger Rshermr agree with the UE numbers or are they partial?
Second, you're claiming that 21% average unemployment over 7 years proves that "deficit Spending works"?
No wonder we have such horrible labor participation numbers today, its more deficit spending at work!