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this post is genius!You tell em boutons_deux…And how ….clambake…You gonna eat those fries…
move over, einstein!
You tell em boutons_deux…And how ….clambake…You gonna eat those fries…
this post is genius!You tell em boutons_deux…And how ….clambake…You gonna eat those fries…
move over, einstein!
I gave up all fast food and junk food many years ago. I won't touch that poison.
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back to the economy:
Californians' income sees first decline since WWII
Farming communities of Fresno and Bakersfield are among the state's few bright spots
The personal income of California residents declined last year for the first time since World War II, state officials said Wednesday.
An analysis by the federal Bureau of Economic Analysis found that statewide income fell by $40 billion in 2009 to $1.56 trillion. That's down about 2.5 percent from the previous year and even lower than the 2007 figure.
http://www.salon.com/news/feature/20...ome/index.html
Reality is that there was a huge recession in 1920 and the fed did nothing, year later the american public was in an economic boom.I know, they're not big fans of reality.
1929, the stock market crashed, Hoover pumped credit, and rose spending, nothing. the real effects of the depression didn't take in effect till the early part of the thirites. But basically Hoover and FDR both would implement economic controls on big buisiness by trying to collaborate price controls, having a bureau make buisiness decision on behalf of buisiness (NRA), Wagner act, forcing american enterprise to only work with labor unions, (see GM).
The fact is that FDR ed us.
Hunker down? That's your answer? That's what crazy people do...
Much better than when you were showing Obama the love. Now you just need to get onboard with supporting Palin for President...she's got big ones and if it doesn't matter who's elected then you should always vote for the best breasts.
Learn history from someone other than Glenn Beckkk
WikiKeynes's ideas became widely accepted after WWII, and until the early 1970s, Keynesian economics provided the main inspiration for economic policy makers in Western industrialized countries.[14] Governments prepared high quality economic statistics on an ongoing basis and tried to base their policies on the Keynesian theory that had become the norm. In the early era of new liberalism and social democracy, most western capitalist countries enjoyed low, stable unemployment and modest inflation, an era called the Golden Age of Capitalism.
In terms of policy, the twin tools of post-war Keynesian economics were fiscal policy and monetary policy. While these are credited to Keynes, others, such as economic historian David Colander, argue that they are rather due to the interpretation of Keynes by Abba Lerner in his theory of Functional Finance, and should instead be called "Lernerian" rather than "Keynesian"
Republican US President Richard Nixon even proclaimed "we are all Keynesians now".
Wait what. I'd like some links on your Hoover history.
Gotta get ready for those race wars! They're uh coming!
I get it now. when obama says he got us out of the worst of it, he meant he was responsible for only the positive. unemployment is at 9%, the fed is buying up more debt, and we are doing so well because of barry that he extends unemployment welfare.
I think the economy is improving…Maybe it’s in small increments…But in the business sectors that I know about things are picking up…
Obviously real estate in the Sun Belts has not stabilized & there are 1000's of shadow default inventory's that will eventual hit the market…Housing prices in these areas may still have a way to fall…Eventually the supply & demand will determine the value of a home vs. government intervention…
I am fairly optimistic...
what would make you think the economy is improving? I think because it has been so long, we are due for our economy to improve and grow. But there is no facts or logic to that.
I am not an economist…But as I stated, in the fields that I know about things are picking up…My employer has not authorized Over Time in three years & we are working 6 days a week…Friends in printing, home repair, building safety, automotive repair, welding, all see a small up tick in improvement….Even people in dentistry & the medical field claim that people are finally getting work done that they have put off…
Maybe the “new normal” will mean no charge cards, grocery store coupons, one car families, 800 sq ft houses, less dining out...But the U.S.A. is not going down the tubes…The glass is half full not half empty…
When was that?
If I have to pick between Barry and Palin, I'm definitely sticking with Barry.
http://politics.usnews.com/opinion/a...al-action.htmlIt started when FDR was still a governor in Albany, and Herbert Hoover occupied the White House. Hoover had initially made his name steering populations through crises, feeding starving Belgians during the First World War and, later, stewarding the South through the great flood of the Mississippi. As commerce secretary, Hoover always criticized his president, Calvin Coolidge, for using his office too sparingly. When the crash hit on his own watch, Hoover therefore jumped to act, using the office, or doing what he could to undermine Congress. Hoover signed off on a Republican tariff and created the Reconstruction Finance Corp. Around about the equivalent of now in the 1929 crisis—the autumn of that year—he summoned business leaders to Washington and persuaded them not to drop wages, the traditional next step during a downturn.
Some Hoover measures helped, in minor ways. The RFC supplied liquidity to a cash-short banking system. But other Hoover steps hurt. As I write this, the spotlight of concern is shifting to Europe and its flailing markets. Hoover's tariff seemed to confirm to Europe precisely what Mussolini and Hitler were telling it—the United States will shut you out. The condition upon which Hoover agreed to Smoot-Hawley was to take away power from Congress, with a new tariff commission calibrating rates. In exchange for hurting Congress and lobbyists, he hurt the world. Hoover also tended to blame to stock market. Like the Bush administration's own Chris Cox of the Securities and Exchange Commission, Hoover sought to stop short selling and berated traders as traitors to stability. This may have halted such sales, but it depressed regular stocks. In losing shorts, owners lost a crucial markets barometer.
It is the perversity of Hoover's wage policy, however, that Depression scholars have been warning about lately. Hoover insisted that industrial leaders keep wages high. Business complied—real average hourly earnings in manufacturing actually increased from 1929 in 1931, even as production dropped by nearly half. The action at the time seemed counterintuitive to business—in the last downturn, 1920 and 1921, wages had dropped. Now, however, companies pushed those wages higher partly because they believed, as Henry Ford was preaching, that wage increases might generate productivity gains to make the move worth it. But corporate leaders also acted, as UCLA's Lee Ohanian has shown, out of fear, because Hoover made it clear he was the only thing between them and unionization. In 1932, Hoover also signed the Davis-Bacon Act, which increased upward pressure on wages by insisting that public-sector jobs receive prevailing wages. Hoover bullied industrial America into a corner where it could do nothing but lay people off. Hence, there were 2 in 10 unemployed instead of 1 in 10. Ohanian concludes that Hoover's wage policy "accounts for much of the depth of the Depression."
Where Hoover used suasion, Roosevelt tended simply to snatch power. In his first inaugural address, FDR explained that he would use "broad executive power to wage a war against the emergency, as great as the power that would be given to me if we were in fact invaded by a foreign foe." When it came to labor prices, FDR and the New Dealers formalized Hoover's error in the form of the National Recovery Administration. The NRA gave big firms advantage over small fry and applied its own upward pressure through a minimum wage. In the previous depression, unemployment had lasted under two years. This time, 2 in 10 were still unemployed five years post-crash.
THis whole lie about how Hoover was a laisezz faire free market guy guru is a complete fabrication...
Yeah, you didn't provide anything that showed Hoover doing what a Keynesian would do.
Yeah i did. He pumped credit into the market to stimulate investments.
"The RFC supplied liquidity to a cash-short banking system. "-from that same article..
http://en.wikipedia.org/wiki/Reconst...ce_CorporationThe agency gave $2 billion in aid to state and local governments and made loans to banks, railroads, farm mortgage associations, and other businesses. The loans were nearly all repaid. It was continued by the New Deal and played a major role in handling the Great Depression in the United States and setting up the relief programs that were taken over by the New Deal in 1933.[1]
True, you are right about that and that was actually (as even your link points out) a good thing. He didn't do enough of that sort and his idiocy in other departments was far worse than the good he did there.
lol at the graph editorial.
I don't think the editorial is important so much as the relevant data. Judge that is all i'm asking.
Well.. FDR increased the program and it prolonged the depression because he also implemented hoovers wage controls under the NRA act.
Hoover basically distorted the free market and raised tarriffs.
Wage controls are bad. I think thats something we can agree on. In a time of a recession depression its much better to keep a worker at a lower rate than it is to try to enforce an arbitrary unsustainable number and in essence force the job to be lost.
Well, it shows that there has been government spending over time.
There is nothing else on the graph.
Minimum wage is another form of Wage control.. infact, the real reason why we lost manufacturing jobs.
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