'An inability to admit wrongdoing - even sometimes when presented with objective evidence of their errors or behavior.'
Narcissistic Personality Disorder
Now I suggest you (and I) get back on the topic before the mods come by and do it for us.
Have a nice day.
Another useless rant meant to try and deflect responsibility for the inept handling of the economy from 'your boy' Obama?
Just as other blinder-equipped partisans try to deflect responsibility from GWB's inept handling of the economy during his term, no doubt.
In any case, the thesis is shot to pieces by such facts as that the alleged spending cuts by Harding were not actually by Harding but by the liberal Wilson, that the alleged tax cuts by Harding were not actually tax cuts after all, and that the actual proximate causes for the end of the downturn were easy money policies and expansion of the money supply via sustained gold inflows from abroad.
Last edited by Cardinal Fang; 09-13-12 at 12:20 PM.
The DOW and unemployment rate returned to near pre-1920/21 depression levels within 3 1/2 years despite the fact that government spending under Wilson and Harding was drastically cut?
True or false, please?
1) Did the national debt under Hoover go up or down?The crap that Hoover was a big spender whose profligate hand can be seen in the final numbers for the FY 1933 and FY 1934 budgets. I don't propose to repeat an entire different thread here, but when your claims are crushed into dust an scattered to the winds in one thread, turning around and making the same bogus claims again in a different one is a sign of desperate infantilism.
Which is it, please?
2) In fact, name ANY FY budget (other then possibly 1930 - I am not sure if Hoover or Coolidge presented this FY budget to Congress. I assume the latter did) that Hoover presented to Congress that did not result in a budget deficit?
I use those times because they are 3 months after FDR took over (and the initial, temporary DOW rebound from his Emergency Banking Act) until 6 months after Pearl Harbor (when the U.S. war economy was gearing up).Why do you have to resort to AVERAGE unemployment rates? Is it because an actual time series would fail to support your claims? Why are you trying to use a stock market index as a proxy for the health of the economy when the actual GNP data are available? Is it because those data would simply blow your thesis to pieces? Why are you cherry-picking a date from the middle of WWII to take a stock market price from? Are you not aware of the fact that in 1942, people tended to invest the savings that they had in War Bonds, not in the stock market? I'm afraid that the answers to all of these questions will again reflect very poorly on both your arguments and your integrity.
And those numbers I posted are facts btw.
From mid' 33 until mid' 42, the umployment rate averaged 17+% and the DOW actually went down...despite huge increases in government debt.
Have a nice day.
Last edited by DA60; 09-13-12 at 12:54 PM.
And where are your links to unbiased facts that proves that the recovery was not simply the result of the Great Recession bottoming out and slowly rebounding 'on it's own'?
The Fed lowering interest rates way too low and for too long, Bush pushing through his incredibly naive low income housing program and Congress's willingness to go along are what (imo) primarily started the housing bubble.People who believe that three separate and distinct entities can each be "primarily to blame" for anything don't deserve a lot of mollycoddling. As for macro skills, well, I can't recommend that you go there. The credit crisis was brought about between 2002 and 2006 by the greed of unbridled cowboy capitalism aided and abetted by the god-awful fiscal, monetary, and regulatory policies of the laissez-faire cheerleaders within the Bush administration. All of those have a heavy cross to bear. Others. not so much.
And I would hardly call those 'free market'.
That is macroeconomic government meddling if I ever saw it.
Last edited by DA60; 09-13-12 at 01:09 PM.
Again, prove me wrong and I'll gladly admit I am, you haven't provided any evidence otherwise.LOL!!! Overall, America was at one of its historic economic high points in January 2001, and in just eight short years, all of that was destroyed by the ignorance of greedy Republican laissez-faire free-market cowboy capitalism, leaving us to deal with the worst economic catastrophe since the Great Depression. Against all odds, we have been in an overall recovery since mid-2009 with the lagging variable of employment not surprisingly lagging. The recovery has of course been attacked and undermined by Republicans at every step along the way. Republicans openly admit that they see partisan interests as superior to national interests and are more than willing to see millions of (non-rich) Americans suffer in the hope that such a situation might buy them a few extra votes.
According to that chart he didn't. Average 2002-2008 and 2009-2012, Bush created about 43,000 jobs, while President Obama lost 10,000. Correct me if I'm wrong."Subpar" is being a little generous. George W Bush had the worst jobs performance of any President since WWII. Eight years of miserable disgrace and failure across the board. That's all that Bush provided by any proper sort of math.
Bureau of Labor Statistics