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Non-Tech : Kirk's Market Thoughts
COHR 154.52-3.0%Nov 7 9:30 AM EST
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To: Gottfried who wrote (649)2/11/2014 12:36:55 PM
From: Jerome  Read Replies (2) of 26439
 
Nice chart Gottfried.....similarities in charts may exist between these two periods of time.

Other similarities were that Hoover had a House and Senate that would not do anything (that he suggested ) to help cure the depression. Hoover was mining engineer that spent a good part of his life China, Australia, and Russia as a mining engineer..

As I see it (in that period of time) the biggest problem was the Federal Reserve that enacted disastrous economic policies. For example: it was thought by Congress that a strong country need a strong currency. So as the economy collapsed the Fed kept raising interest rates..

Congress also ignored any of his suggestions to help the economy. FRD said at his inauguration that he would enact the same policies that Hoover suggested.

Getting to todays political scene. Some folks are angered that Obama is doing a few things by Executive Order.

In terms of Executive orders Obama is a piker...The score as of today....
Obama ......168......Bush 43....291........FDR.....3,522

presidency.ucsb.edu

When it was pointed out to FDR that many of his executive orders bypassed congress and were illegal, He said (paraphrase) . This is what the country needs to get it going, Congress can sue me in the courts...and it will take the courts a couple of years to rule on these programs. . Turns out he was right.
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