|
|
We appreciate your help
in keeping this site going.
|
|
12-13-2011, 08:37 PM
|
|
Area Man
|
|
Join Date: Oct 2009
Location: The Swamp
Posts: 27,407
|
|
Quote:
Originally Posted by piece-itpete
He knew the sytem was rotten, pulled his cash out of the stock market before the crash and told everyone who would listen to do the same.
Many of the programs continued by FDR were started by him. The big difference is Hoover wouldn't give money directly to people, he gave it to the States for disbursment.
Pete
|
Everyone pulling all of their money out of the market and the banks accelerated the crash. That was the reason for the "Bank Holidays"---to staunch the hemorraging. This is why, today, the government(s) simply tries to take it (money) from people and put it back into the market. Stagnant cash flow caused by panicked hoarding does nothing to help the economy.
Encouraging people to oppose the action, for purely political reasons, only prolongs the agony.
Dave
__________________
"When the lie is so big and the fog so thick, the Republican trick can play out again....."-------Frank Zappa
|
12-14-2011, 08:30 AM
|
|
Resident octogenarian
|
|
Join Date: May 2009
Location: Maryland
Posts: 20,860
|
|
With the Fed keeping interest rates at essentially zero soooner or later those fat cats that are sitting on all that cash will wake up. That money is practically earning them zilch so maybe they will wise up and realize they can make more by loaning it out.
__________________
Great minds discuss ideas; Average minds discuss events; Small minds discuss people.
Eleanor Roosevelt
Last edited by merrylander; 12-14-2011 at 09:44 AM.
|
12-14-2011, 08:39 AM
|
|
Senior Member
|
|
Join Date: Aug 2011
Location: Derby City U.S.A.
Posts: 8,176
|
|
Quote:
Originally Posted by merrylander
With the Fed keeping interest rates at essentially zero soooner or later those fat cats that are sitting on all that cash will wake up. That money is prectically earning them zilch so maybe they will wise up and realize they can make more by loaning it out.
|
Seems like they have figured out a another way, new fee's on banking.
Barney
|
12-14-2011, 09:46 AM
|
|
Resident octogenarian
|
|
Join Date: May 2009
Location: Maryland
Posts: 20,860
|
|
Quote:
Originally Posted by Oerets
Seems like they have figured out a another way, new fee's on banking.
Barney
|
True enough for banks but not for corporations, if they do not put all that extra cash to work they are losing. Corporations may be people but dollars are not. Lock two of them in a dark room and they will not generate little dollars.
__________________
Great minds discuss ideas; Average minds discuss events; Small minds discuss people.
Eleanor Roosevelt
|
12-14-2011, 11:08 AM
|
|
Possibly admin. Maybe ;)
|
|
Join Date: Sep 2009
Location: Land of the burning river
Posts: 21,098
|
|
Blue, I got'cha, but he pulled his out a year before the crash.
Pete
__________________
“How many legs does a dog have if you call the tail a leg? Four. Calling a tail a leg doesn't make it a leg.”
|
12-14-2011, 01:59 PM
|
|
Area Man
|
|
Join Date: Oct 2009
Location: The Swamp
Posts: 27,407
|
|
Must have known his own policies and ideology were about to wreck the economy?
Dave
__________________
"When the lie is so big and the fog so thick, the Republican trick can play out again....."-------Frank Zappa
|
12-14-2011, 02:40 PM
|
|
Possibly admin. Maybe ;)
|
|
Join Date: Sep 2009
Location: Land of the burning river
Posts: 21,098
|
|
Man the left loooooooooooooves to demonize the Great Humanitarian.
He was in office 8 months. He was also a supporter of Teddy Roosevelt and the Smoot Hawley tariff act.
Pete
__________________
“How many legs does a dog have if you call the tail a leg? Four. Calling a tail a leg doesn't make it a leg.”
|
12-15-2011, 07:43 AM
|
|
Area Man
|
|
Join Date: Oct 2009
Location: The Swamp
Posts: 27,407
|
|
Quote:
Originally Posted by piece-itpete
Man the left loooooooooooooves to demonize the Great Humanitarian.
He was in office 8 months. He was also a supporter of Teddy Roosevelt and the Smoot Hawley tariff act.
Pete
|
Who is this "Great Humanitarian" you speak of?
And, what's that we like to say about presidents these days?
"If it happens on his watch, he owns it!"?
The Crash of '29, right?
Did nothing but get worse while he waited for the "market correction" that never happened.
Okay, so yes, Hoover owns the Great Depression.
There's a reason why he lost to FDR and it wasn't because FDR had a charming smile. It was because Hoover was a loser Republican sitting on his ass waiting for the rich folk to spontaniously resume creating jobs, and as we now know, it did not work.
Dave
__________________
"When the lie is so big and the fog so thick, the Republican trick can play out again....."-------Frank Zappa
|
12-15-2011, 08:31 AM
|
|
Senior Member
|
|
Join Date: May 2009
Location: Upper Canuckistan
Posts: 2,180
|
|
Kinda wild how these guys figure that after the market creates a disaster, the same guys can be relied upon to fix it.
__________________
There never Was a Good War or a Bad Peace. - Benjamin Franklin.
|
12-15-2011, 03:23 PM
|
|
Senior Member
|
|
Join Date: Feb 2011
Location: San Diego California
Posts: 3,261
|
|
Quote:
Originally Posted by BlueStreak
Who is this "Great Humanitarian" you speak of?
And, what's that we like to say about presidents these days?
"If it happens on his watch, he owns it!"?
The Crash of '29, right?
Did nothing but get worse while he waited for the "market correction" that never happened.
Okay, so yes, Hoover owns the Great Depression.
There's a reason why he lost to FDR and it wasn't because FDR had a charming smile. It was because Hoover was a loser Republican sitting on his ass waiting for the rich folk to spontaniously resume creating jobs, and as we now know, it did not work.
Dave
|
Hoover had his problems, but he certainly wasn't "sitting on his ass." He took some quite progressive positions. He also tinkered with the economy via Smoot-Hawley Tarrif Act, expanded Federal Civil Service, rescinded private oil leases on federal property, and appointed Cardozo to the Supreme Court. These are not what I would call Laissez-Faire or conservative positions. He never really had a lot of charm to his personality like the NE elitist FDR.
__________________
Dear Optimist: Unless life gives you water and sugar too, your lemonade will suck.
|
Thread Tools |
|
Display Modes |
Linear Mode
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
All times are GMT -5. The time now is 06:03 AM.
|