SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : The Residential Real Estate Crash Index
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: RetiredNow who wrote (260986)7/15/2010 12:21:28 PM
From: tejekRead Replies (2) of 306849
 
Sorry but you are wrong. He had no choice. I lived through the damn thing........I was reading every expert on the topic. We were fukked. And I find it annoying that you are trying to minimize it now so that it fits your economic ideology. Stop reverting to an outdated rule book.

And then read about the Depression......from start to finish. Hoover did what you are suggesting and only made things worse. FDR started using Keynesian tools and it worked. Then the Rs freaked in 1937.....just like you are freaking out now.....and insisted that FDR cut the deficit and he did. The result........the economy slipped back into depression until WW II spending lifted it again. At the end of WW II, the deficit as a percent of GDP was huge but by that time the economy was on solid footing. Frome WWII til Nixon and Carter, presidents and Congress reduced the deficit as a percent of GDP. It was only when Reagan took over that the deficit as a persent of GDP started to grow again.

Nations, esp. wealthy nations like the US, can grow the deficit during a period of crisis. Its one of the bennies when you have lots of assets and wealth. You can't do it forever but you certainly can do it for a period of 15 years like they did during the Depression and WW II. The major problem we are having today is that the Rs and conservative Dems kept the stimulus too small.....because they are enslaved to the same economic ideology you espouse.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News