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Thread: US economy adds 288,000 jobs in June

  1. #151
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    Re: US economy adds 288,000 jobs in June

    Quote Originally Posted by DA60 View Post
    Really...economic stimulus helps? Interesting.

    Let's take the Great Depression

    Between 1930 and 1942, the national debt was TRIPLED.

    And what did America get for all this new debt?

    The DOW never got to more then 51% of it's pre-crash level.

    And the unemployment rate in 1939 was still FIVE times higher then it was before the crash.

    Doesn't sound too successful to me.


    And now let's look at austerity and how it worked during the 1920/21 depression:

    And the unemployment rate in 1939 was still FIVE times higher then it was before the crash.

    Dow Jones Industrial Average (1920 - 1940 Daily) - Charting Tools - StockCharts.com

    The Great Depression Statistics

    That is your idea of a 'Keynesian theory success'?

    Noted.


    Now compare it to the 1920/21 Depression.

    The Wilson/Harding administrations slashed spending (much of it war spending, granted). But between 1920 and 1923, they cut spending in half AND cut tax rates.

    What was the result?

    The unemployment rate was apparently 1.4% before the crash and 2.4% by 1923.

    And the DOW went from roughly 108 to about 105 by 1923.


    In short - Hoover/FDR handling of Great Depression+ (1930-40/41)...national debt triples, DOW barely reaches 1/2 of it's pre-crash level and unemployment is 5 times worse (in 1939) then it's pre-crash level.

    Wilson/Harding handling of 1920/21 Depression...national debt is cut by roughly 20%, both DOW and unemployment levels are back to near pre-crash levels within 3 1/2 years.

    http://www.debatepolitics.com/econom...post1061850091
    Depression=/=GREAT Depression

    Anyways, does Hoover Blankets ring a bell?
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  2. #152
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    pinqy's Avatar
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    Re: US economy adds 288,000 jobs in June

    Quote Originally Posted by DA60 View Post
    ...you called John Williams of ShadowStats.com a liar.
    No, I didn't. Well, at least not in this thread.
    I didn't even say he lied.
    Last edited by pinqy; 07-04-14 at 03:11 PM.
    Therefore, since the world has still/Much good, but much less good than ill,
    And while the sun and moon endure/Luck's a chance, but trouble's sure,
    I'd face it as a wise man would,/And train for ill and not for good.

  3. #153
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    Re: US economy adds 288,000 jobs in June

    Quote Originally Posted by Buddha C View Post
    Do me a favor.

    Put me back on your ignore list, I will not deal with you.
    You still are..I just made an exception.

    So you cannot handle when practically all I do is post facts?

    Interesting.


    Hey, if you don't want to deal with me...then just ignore me.

    I do it with lots of people, it does make things go smoother around here.

    Try it.


    Good day.

  4. #154
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    Re: US economy adds 288,000 jobs in June

    Quote Originally Posted by DA60 View Post
    Really...economic stimulus helps? Interesting.

    Let's take the Great Depression

    Between 1930 and 1942, the national debt was TRIPLED.

    And what did America get for all this new debt?

    The DOW never got to more then 51% of it's pre-crash level.

    And the unemployment rate in 1939 was still FIVE times higher then it was before the crash.

    Doesn't sound too successful to me.


    And now let's look at austerity and how it worked during the 1920/21 depression:

    And the unemployment rate in 1939 was still FIVE times higher then it was before the crash.

    Dow Jones Industrial Average (1920 - 1940 Daily) - Charting Tools - StockCharts.com

    The Great Depression Statistics

    That is your idea of a 'Keynesian theory success'?

    Noted.


    Now compare it to the 1920/21 Depression.

    The Wilson/Harding administrations slashed spending (much of it war spending, granted). But between 1920 and 1923, they cut spending in half AND cut tax rates.

    What was the result?

    The unemployment rate was apparently 1.4% before the crash and 2.4% by 1923.

    And the DOW went from roughly 108 to about 105 by 1923.


    In short - Hoover/FDR handling of Great Depression+ (1930-40/41)...national debt triples, DOW barely reaches 1/2 of it's pre-crash level and unemployment is 5 times worse (in 1939) then it's pre-crash level.

    Wilson/Harding handling of 1920/21 Depression...national debt is cut by roughly 20%, both DOW and unemployment levels are back to near pre-crash levels within 3 1/2 years.

    http://www.debatepolitics.com/econom...post1061850091
    Oh, by the way:

    I won't bother reading it because you didn't provide links or use unbiased facts.

    Your source is clearly biased to an extremely excrable prestidigital sense.

  5. #155
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    Re: US economy adds 288,000 jobs in June

    Quote Originally Posted by Buddha C View Post
    But... I just posted how Republicans literally specifically increased the deficit (i.e. de facto spent more) just to hurt the country?
    Neither party does it to hurt the country - even though it does. Politicians see their power in the ability to spend money. It is about power, not the good of the country.

  6. #156
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    Glen Contrarian's Avatar
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    Re: US economy adds 288,000 jobs in June

    Quote Originally Posted by Conservative View Post
    Don't expect someone with your leaning to understand economic growth, the components of our private sector economy, and the effects of economic growth on govt. revenue. Trying to understand exactly how cutting income taxes that led to a significant increase in govt. revenue caused the deficits? Hmmm, must be liberal math.

    Can you tell me that the 9 million jobs created from January 21, 2001 to December 31, 2007 would have happened without the tax cuts? You do realize that you if you are working are still paying less taxes today than then but that expenses today aren't the same as then. Tax cuts need to be reinforced
    So...if tax cuts are wonderful for an economy and tax hikes are so detrimental to an economy, how is it then that the longest streak of positive private-sector job growth on record (before the current streak under Obama) followed the tax HIKES by Bush 41 and Clinton? How is it that our economy did quite well in the 1950's even though we had a 90% top marginal tax rate (under Eisenhower, no less)? How is it that the longest streak of positive private sector job growth on record has come under Obama with his oh-so-tyrannical stimulus and tax increases? Betcha didn't see that particular headline on Fox News!

    You ask why we added 9M jobs under Bush (and Obama's added more than that in less time, btw) - I reply with the fact that we were in a war...and economies normally expand in a war. What brought us out of the Depression? The taxpayer-funded build-up for WWII. And I remember very well what my fellow conservatives were saying during the 1982 recession (which was then the worst since the Depression) under Reagan: "We just need a good war". Why did people say that? Because they understood then that wars tend to force economies to expand. But why do wars cause economies to expand? Because most wars, being taxpayer-funded, are in economic terms nothing more than government-funded economic stimuli.

    Feel free to refute what I've pointed out to you.
    To do evil, a human being must first of all believe that what hes doing is good" - Solzhenitsyn

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  7. #157
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    Re: US economy adds 288,000 jobs in June

    Quote Originally Posted by DA60 View Post
    You still are..I just made an exception.

    So you cannot handle when practically all I do is post facts?

    Interesting.


    Hey, if you don't want to deal with me...then just ignore me.

    I do it with lots of people, it does make things go smoother around here.

    Try it.


    Good day.
    Hey, I'm open for a real debate, but, like I said:

    I won't bother reading it because you didn't provide links or use unbiased facts.

    Your source is clearly biased to an extremely excrable prestidigital sense.

  8. #158
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    Re: US economy adds 288,000 jobs in June

    Quote Originally Posted by Fruityfact View Post
    Depression=/=GREAT Depression

    Anyways, does Hoover Blankets ring a bell?
    No...but Hoover was as guilty as FDR of massive spending and (almost as guilty) at government intervention (he signed Smoot-Hawley).

    Federal Budget Receipts and Outlays

  9. #159
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    Re: US economy adds 288,000 jobs in June

    Quote Originally Posted by fmw View Post
    Neither party does it to hurt the country - even though it does. Politicians see their power in the ability to spend money. It is about power, not the good of the country.
    You are absolutely correct.

    I mean given certain allowances, like special interest groups, but yes true in reality even they do it for Power/Money/Avarice whatever appelation one wishes to put on it.

    That's why we need a heavily armed society with a liberal interpretation of the 2nd and 1st Amendments.

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    Re: US economy adds 288,000 jobs in June

    Quote Originally Posted by Glen Contrarian View Post
    So...if tax cuts are wonderful for an economy and tax hikes are so detrimental to an economy, how is it then that the longest streak of positive private-sector job growth on record (before the current streak under Obama) followed the tax HIKES by Bush 41 and Clinton? How is it that our economy did quite well in the 1950's even though we had a 90% top marginal tax rate (under Eisenhower, no less)? How is it that the longest streak of positive private sector job growth on record has come under Obama with his oh-so-tyrannical stimulus and tax increases? Betcha didn't see that particular headline on Fox News!

    You ask why we added 9M jobs under Bush (and Obama's added more than that in less time, btw) - I reply with the fact that we were in a war...and economies normally expand in a war. What brought us out of the Depression? The taxpayer-funded build-up for WWII. And I remember very well what my fellow conservatives were saying during the 1982 recession (which was then the worst since the Depression) under Reagan: "We just need a good war". Why did people say that? Because they understood then that wars tend to force economies to expand. But why do wars cause economies to expand? Because most wars, being taxpayer-funded, are in economic terms nothing more than government-funded economic stimuli.

    Feel free to refute what I've pointed out to you.
    Just give him a few minutes to find a far right think tank to refute you with already refuted papers of their own.

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