okay so no response to hoover a republican being in office as the GD unfolded
figured not really much you could say....but was just curious if you could come up with something....
fed to make bumps less jarring?
they really did a great job during the great depression we are currently talking about
y lets let unelected officials that don't have much oversight to congress control monetary policy
i'm sure they'll be looking out for the best interests of everybody
gimme an Fin break
anyway had my fun for the last few days but had enough....
back to my sell, sell, sell hole
figured not really much you could say....but was just curious if you could come up with something....
fed to make bumps less jarring?
they really did a great job during the great depression we are currently talking about
y lets let unelected officials that don't have much oversight to congress control monetary policy
i'm sure they'll be looking out for the best interests of everybody
gimme an Fin break
anyway had my fun for the last few days but had enough....
back to my sell, sell, sell hole
What are you talking about??
The great depression was caused by two things - margin buying on the market and over sized inventory - guess what happens when you overstock - you stop producing until inventory comes down.
Margins come due, stores stop selling product, people get laid off, people that are laid off can't afford to buy anything but staples, which leads to more layoffs and companies going under - a spiral that destroys economies.
This is an impossibilty in todays "just in time" computerized age.
I have debated extensively about the subject, tizdoom -- the history of the gold standard (the booms and busts within that period), the current fed, the great depression, the reason why today's ebbs and flows aren't what they used to be etc. Don't you remember, "the Milton Friedman fed"?
You're a broken record, tizdoom.
Give me a moment and I'll dig up those posts and we can continue from the point you last bailed.
Deal?
Tizdoom, since ending dollar-gold convertibility in 1933, the United States economy has experienced ever fewer and shallower recessions. And since 1982, we have enjoyed a quarter century of almost uninterrupted growth with low inflation.
Bottom line: pro-growth economics with the Friedman Fed as a referee works.
Unlike, say the period from 1789 to 1933, where the dollar was fixed to gold. Twenty bucks to the ounce. If something positive or negative happened in the economy, the dollar could not adjust up or down the way it does today against the euro, the yen or the pound. A recession was like a car accident without bumpers or crumple zones -- riders in the cabin felt the pain full on. Domestic asset values collapsed. Unemployment jumped. Homes were lost. Businesses disappeared.
Thank God those days are over. So no, there will be no "global depression," I'm sorry to say for you doomers, because as bblight said, this is a very efficient, dynamic and resilient economy.
All we have to do is ensure Barack Marx doesn't fuck it up with his MASSIVE tax increases and wealth redistribution schemes.
hno:
Bottom line: pro-growth economics with the Friedman Fed as a referee works.
Unlike, say the period from 1789 to 1933, where the dollar was fixed to gold. Twenty bucks to the ounce. If something positive or negative happened in the economy, the dollar could not adjust up or down the way it does today against the euro, the yen or the pound. A recession was like a car accident without bumpers or crumple zones -- riders in the cabin felt the pain full on. Domestic asset values collapsed. Unemployment jumped. Homes were lost. Businesses disappeared.
Thank God those days are over. So no, there will be no "global depression," I'm sorry to say for you doomers, because as bblight said, this is a very efficient, dynamic and resilient economy.
All we have to do is ensure Barack Marx doesn't fuck it up with his MASSIVE tax increases and wealth redistribution schemes.
hno:
MARK pulls out his cyber trump card with: Since you don't ever add anything to the debate other than unwarranted, unprovoked personal attacks...
Quote:
07-27-2008, 04:40 PM
Remove user from ignore list
pullingtriggers
This message is hidden because pullingtriggers is on your ignore list.
----------
NO! PLEASE GOD NO! Not the dreaded IGNORE LIST! Please Mark....errrrrrrrrrrrr..Mr JOE C, please don't ignore me! I promise to kiss your cyber ass from this point forward if you'll just take me off the dreaded Ignore List!
Quote:
07-27-2008, 04:40 PM
Remove user from ignore list
pullingtriggers
This message is hidden because pullingtriggers is on your ignore list.
----------
NO! PLEASE GOD NO! Not the dreaded IGNORE LIST! Please Mark....errrrrrrrrrrrr..Mr JOE C, please don't ignore me! I promise to kiss your cyber ass from this point forward if you'll just take me off the dreaded Ignore List!
First I know about what you are saying....no argument there about the speculation and its role
One question:
Do you believe in fractional banking
Are you a proponent of a gold standard to a nation's (specifically ours) currency.
Watch the video and youll see what I am talking about gold's role in the depression.
<object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/O7pnjzCuSv8&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><embed src="http://www.youtube.com/v/O7pnjzCuSv8&hl=en&fs=1" type="application/x-shockwave-flash" allowfullscreen="true" width="425" height="344"></embed></object>
