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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?


To: CalculatedRisk who wrote (58289)4/15/2006 8:41:45 PM
From: NOW  Read Replies (2) | Respond to of 110194
 
turbotax has me puking right now. sucks incredibly. crashed after two days and lost all of my data somehow back to day 1. thought it had autobackup but i guess it id not work . last time i ever buy an intuit prodcut! EVER!



To: CalculatedRisk who wrote (58289)4/15/2006 9:31:10 PM
From: Les H  Respond to of 110194
 
Petrodollars return as destabilizing force

marketwatch.com



To: CalculatedRisk who wrote (58289)4/16/2006 2:51:11 PM
From: Oblomov  Read Replies (1) | Respond to of 110194
 
>>After FDR was elected, he realized there was no way to immediately balance the budget.

...and so he further extended Hoover's foolish but modest attempt to plan the economy back to prosperity (which did not work) into a colossal state apparatus to plan the economy back to prosperity (which also didn't work).

Of course, the intentions were good, but as HL Mencken noted, "The New Deal began, like the Salvation Army, by promising to save humanity. It ended, again like the Salvation Army, by running flop-houses and disturbing the peace."

As you note, the economic trouble started on the farm. Although the US recovered from the postwar depression rapidly, agricultual prices again started dropping in 1925, the same year that Germany slipped into a depression. But the electrification of offices and factories, which happened in the 1920s as well, permitted production around the clock. With the rapid adoption of motion pictures, radio, the motorcar, and commercial air transport, it truly was a time of wonders.



To: CalculatedRisk who wrote (58289)4/16/2006 3:16:08 PM
From: mishedlo  Respond to of 110194
 
The correct policies would have been to cut interest rates rapidly and allow some deficit spending (but probably raise taxes on the higher income earners to pay for some safety nets).

Given that loose money and credit was the problem. loose money and credit can not be the solution.

Mish