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Thread: Question #2

  1. #41
    Senior Member menmon's Avatar
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    Because the tread is flawed like most of them. It's trying to say that Romney will produce 5% GDP growth by cutting taxes while Obama want to raise them on the rich.....Sounds good but not true...flawed!!!!!!!!!!!!!!!!!!!!!1

  2. #42
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    Quote Originally Posted by menmon View Post
    The Depression of 192021 was an extremely sharp deflationary recession in the United States, shortly after the end of World War I. It lasted from January 1920 to July 1921.[1] The extent of the deflation was not only large, but large relative to the accompanying decline in real product.[2]
    A range of factors have been identified contributing to the depression, many relating to adjustments in the economy following the end of World War I. There was a brief Post-World War I recession immediately following the end of the war which lasted for 7 months. The economy started to grow, though it had not yet completed all the adjustments in shifting from a wartime to a peacetime economy. Factors identified as potentially contributing to the downturn include: returning troops which created a surge in the civilian labor force, a decline in labor union strife, changes in fiscal and monetary policy, and changes in price expectations.
    Following the end of the Depression of 1920-21, the Roaring Twenties brought a period of economic prosperity.
    You got the history basically right but you downplayed the severity and TOTALLY IGNORED. the solutions. As to your post about the depression of 1930, Keynesian policy took 15 years to work.

  3. #43
    Senior Member menmon's Avatar
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    Quote Originally Posted by caryalsobrook View Post
    You got the history basically right but you downplayed the severity and TOTALLY IGNORED. the solutions. As to your post about the depression of 1930, Keynesian policy took 15 years to work.
    That is the point. We have applied both and have positive GDP growth...that is the difference from last time. Look at Europe they did what we did in the 30s and are in depression. This was a global economic collaspe. We don't bounce out of this in a few years.

  4. #44
    Senior Member menmon's Avatar
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    None of what we did was or is popular, but it is what needed to be done. We failed last time by tightening monetary policy. This time we have put enormous liquidity into the economy coupled with tax cuts and spending that are both keynesian. But the right bashes the fed for keeping rates low...if they raise them, liquidity gets sucked out of the economy.

    The point of putting this on here was for people to see why the government has done what it has, albeit it isn't good conservative economic management, it was to and still is to prevent the country from going into a depression. So bashing the president for failed policy is just politically motivated if you know the history of the great depression. McCain would have done all the same things because the experts would have told him to. The republicans took a position of no on all these unpopular but necessary actions knowing the democrats had the votes, so they could unseat them. However, based on the polls for the legislature and presidency, the american people get it. Good luck tomorrow with the debate, americans are on to you.

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