Members rudywoofs (Pam) Posted February 25, 2009 Members Share Posted February 25, 2009 Really, when you stop to think about it, what/who was it that got us out of the Great Depression of the 1930's? A lot of people will say it was Franklin D. Roosevelt. I don't think FDR got us out of the Depression. It was World War II that got us out by creating war-related jobs and using manpower for rebuilding the infrastructure of the US that had gone to pot for so long, i.e the train system, highways. Just IMHO. I hope we don't need another world war to get us out of our current economic crisis, but then again, I get to wondering.... Quote Pam Meddle Not In the Affairs of Dragons; for You Are Crunchy and Taste Good with Ketchup. If we all sang the same note in the choir, there'd never be any harmony. Funny, isn't it, how we accept Grace for ourselves and demand justice for others? Link to comment Share on other sites More sharing options...
Woody Posted February 25, 2009 Share Posted February 25, 2009 Well ... there seems to be a war brewin' between the Demo's and the Republicans . Hope that will help us. Quote May we be one so that the world may be won. Christian from the cradle to the grave I believe in Hematology. Link to comment Share on other sites More sharing options...
Members phkrause Posted February 25, 2009 Members Share Posted February 25, 2009 They need a referee, you up for the job. And yes rudywoofs this should be interesting if we do need another WW. pk Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Woody Posted February 25, 2009 Share Posted February 25, 2009 I consider myself a moderate so ... I think I could do a fair job of being a referee. Quote May we be one so that the world may be won. Christian from the cradle to the grave I believe in Hematology. Link to comment Share on other sites More sharing options...
Members rudywoofs (Pam) Posted February 25, 2009 Author Members Share Posted February 25, 2009 who? me? Quote Pam Meddle Not In the Affairs of Dragons; for You Are Crunchy and Taste Good with Ketchup. If we all sang the same note in the choir, there'd never be any harmony. Funny, isn't it, how we accept Grace for ourselves and demand justice for others? Link to comment Share on other sites More sharing options...
Members phkrause Posted February 25, 2009 Members Share Posted February 25, 2009 No! I meant Redwood as the referee for the dems and repubs. The other half of the post was for you. pk Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members rudywoofs (Pam) Posted February 25, 2009 Author Members Share Posted February 25, 2009 phew!!!!! Quote Pam Meddle Not In the Affairs of Dragons; for You Are Crunchy and Taste Good with Ketchup. If we all sang the same note in the choir, there'd never be any harmony. Funny, isn't it, how we accept Grace for ourselves and demand justice for others? Link to comment Share on other sites More sharing options...
Members phkrause Posted February 25, 2009 Members Share Posted February 25, 2009 hahahahahahahahahahaha pk Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
LifeHiscost Posted February 26, 2009 Share Posted February 26, 2009 HEY RUDYWOOFS IT was the war that got THE U.S.A. out of the depression of the 1930's..... dgrimm60 War goes the way where money is to be made. The shift of societies' struggles for both sides is financed by the same source, or so I've heard. When the money can find a way to enlarge by peaceful means and still maintain control over the masses, then war will be unnecessary. That's why heaven is so appealing to the disenfranchised and why the lovers of money and power wish to put off heaven as long as possible. "Ho, every thirsty one, come ye to the waters, And he who hath no money, Come ye, buy and eat, yea, come, buy Without money and without price"Isaiah 55:1 YLT Regards! Quote Lift Jesus up!! Link to comment Share on other sites More sharing options...
Woody Posted February 26, 2009 Share Posted February 26, 2009 If war is the answer ... let's start planning on who to attack next .... Maybe we should start a poll. Quote May we be one so that the world may be won. Christian from the cradle to the grave I believe in Hematology. Link to comment Share on other sites More sharing options...
Moderators Gerr Posted February 26, 2009 Moderators Share Posted February 26, 2009 We attacked Iraq and Afghanistan, but our president is trying to get us out of it. Quote Link to comment Share on other sites More sharing options...
Dr. Shane Posted February 26, 2009 Share Posted February 26, 2009 It is commonly taught that WW2 got us out of the Great Depression but that version of history ignores the fact that after WW2 we went into a recession. Once President Trueman start deregulating industry and removing price controls the economy recovered and started to boom in the '50s. No two recessions are alike and I don't believe there is a one-size-fits-all solution to them. Quote Pastoral Family Counselor... Find me at www.PostumCafe.com Author of Peculiar Christianity Link to comment Share on other sites More sharing options...
Moderators Gerr Posted February 26, 2009 Moderators Share Posted February 26, 2009 Ahem. Is/was not the deregulation of the banking industry and wall st. that got us into this mess? Deregulation, i.e. unmitigated freedom? This is a temptation hard to resist even for the righteous,how much more to secular people who make no pretense of the fear of God? GREEEEEEEEEEEEEEED takes over. Remember that NYSE official that was making something like $250 mil a yr whether the stock market was bull or bear market? And was it Thain who presided the demise of Bear Stearns or was it another company, yet had the gall to ask for how many millions in bonus? No, some kind of control must be in place to rein in unmitigated gall, arrogance, and greed. Even angels are governed by law. Quote Link to comment Share on other sites More sharing options...
there buster Posted February 26, 2009 Share Posted February 26, 2009 Quote: Is/was not the deregulation of the banking industry and wall st. that got us into this mess? What regulation was repealed that led to the housing bubble? Quote “the slovenliness of our language makes it easier to have foolish thoughts.” George Orwell Link to comment Share on other sites More sharing options...
Moderators Gerr Posted February 26, 2009 Moderators Share Posted February 26, 2009 The general co-chairman of John McCain’s presidential campaign, former Sen. Phil Gramm (R-Texas), led the charge in 1999 to repeal a Depression-era banking regulation law that Democrat Barack Obama claimed on Thursday contributed significantly to today’s economic turmoil. “A regulatory structure set up for banks in the 1930s needed to change because the nature of business had changed,” the Illinois senator running for president said in a New York economic speech. “But by the time [it] was repealed in 1999, the $300 million lobbying effort that drove deregulation was more about facilitating mergers than creating an efficient regulatory framework.” Gramm’s role in the swift and dramatic recent restructuring of the nation’s investment houses and practices didn’t stop there. A year after the Gramm-Leach-Bliley Act repealed the old regulations, Swiss Bank UBS gobbled up brokerage house Paine Weber. Two years later, Gramm settled in as a vice chairman of UBS’s new investment banking arm McCain: I’m glad I deregulated Wall Street. In the wake of last week’s financial meltdown, Sen. John McCain (R-AZ) has been calling for more regulation and criticizing lax oversight of Wall Street, despite the fact that he and former senator Phil Gramm passed much of the deregulatory reforms that led to the current crisis. Interviewed on CBS today, however, McCain said he does not “regret” championing the deregulation of Wall Street: Q: In 1999, you were one of the senators who helped pass deregulation of Wall Street. Do you regret that now? McCAIN: No. I think the deregulation was probably helpful to the growth of our economy. Quote Link to comment Share on other sites More sharing options...
there buster Posted February 26, 2009 Share Posted February 26, 2009 That law did nothing to change mortgage rates. It did not change qualifications for mortgages. It had nothing to do with the housing bubble. Quote: Did the Gramm-Leach-Bliley Act cause the housing bubble? No. That is one common myth among the progressive left. Because it involves financial deregulation and the unpopular Phil Gramm, the Act is vilified and assumed to be part of a broader chain of evil events. Here are some of the articles which promulgate the myth that the Act caused or helped cause the housing bubble. One version of the claim originates with Robert Kuttner, but if you read his article (and the others) you'll see there's not much to the charge. Kuttner doesn't do more than paint the Act as part of the general trend of allowing financial conflicts of interest. Most of all, the Act enabled financial diversification and thus it paved the way for a number of mergers. Citigroup became what it is today, for instance, because of the Act. Add Shearson and Primerica to the list. So far in the crisis times the diversification has done considerably more good than harm. Most importantly, GLB made it possible for JP Morgan to buy Bear Stearns and for Bank of America to buy Merrill Lynch. It's why Wachovia can consider a bid for Morgan Stanley. Wince all you want, but the reality is that we all owe a big thanks to Phil Gramm and others for pushing this legislation. Brad DeLong recognizes this and hail to him. Megan McArdle also exonerates the repeal of Glass-Steagall. Here is a good critique of GLB, on the grounds that it may extend "too big to fail" to too many institutions. That may yet happen but not so far. more here. . . Quote “the slovenliness of our language makes it easier to have foolish thoughts.” George Orwell Link to comment Share on other sites More sharing options...
Joe_in_RP Posted February 26, 2009 Share Posted February 26, 2009 http://www.democrats.com/node/18123 Quote Link to comment Share on other sites More sharing options...
Joe_in_RP Posted February 26, 2009 Share Posted February 26, 2009 A complete discussion of the topic is here: http://en.wikipedia.org/wiki/Great_Depression Quote Link to comment Share on other sites More sharing options...
Joe_in_RP Posted February 26, 2009 Share Posted February 26, 2009 For people who really are interested in this topic: http://www.marginalrevolution.com/marginalrevolution/2008/11/what-ended-the.html Quote Link to comment Share on other sites More sharing options...
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