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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Mike M2 who wrote (8625)	9/10/2001 11:17:34 AM
From: Ilaine	Read Replies (1) \| Respond to of 74559

Mike, I don't know whether you, yourself, have read much of the history of the Great Depression. I hope someday you will read my book. In the meantime, I don't really know how to convey to you the magnitude of the catastrophe, except maybe by some statistics. One set of statistics I've found interesting come from the IRS. As you know, in 1913, the 16th Amendment to the Constitution was passed, which allowed Congress to tax income. In 1916, Congress ordered the IRS to start making collection statistics public record. Here are the collection statistics for the agricultural sector, 1916-1940 (in millions of dollars). Be sure to notice 1932. Was that "caused" by tractors? If so, why does farm income go up again? 1916 69.8600 1917 97.8600 1918 52.6600 1919 93.5100 1920 71.4800 1921 40.7200 1922 62.9000 1923 92.2000 1924 64.2300 1925 76.8600 1926 70.8100 1927 78.5800 1928 80.4800 1929 72.8000 1930 40.4800 1931 14.0000 1932 05.9800 1933 14.8900 1934 30.5700 1935 43.9000 1936 53.7700 1937 46.0300 1938 26.1000 1939 34.4700 1940 43.1300 BTW, in case you don't know why farm income was so high in 1917 and 1919, it was because World War I disrupted farming in Europe.

To: Mike M2 who wrote (8625)	9/10/2001 11:22:37 AM
From: Moominoid	Respond to of 74559

People ate more meat too so there wasn't any land freed up