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Title: How the Worst Depression in US History Was Overcome
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URL Source: http://www.khurak.net/1920-depression-0016631/
Published: Feb 11, 2010
Author: www.khurak.net
Post Date: 2010-02-11 09:04:34 by dont eat that
Keywords: None
Views: 3546
Comments: 24
Almost the whole world believes that the 1930 depression was the greatest in the economic history of United States. President Roosevelt is considered to be a great leader who fought it and steered the economy out of it. Jim Powel an American historian has nullified this assumption. According to him the 1920 depression was the greatest in the history of United States. Most people are not aware of 1920 depression because President Warren G. Harding devised excellent economic policies that brought the United States Economy out of depression. Powell’s claim is augmented by the statistical data. The statistical data shows that price deflation during 1920-21 was somewhere between 13% – 18%, quite higher than the deflation of 1930s that is recorded as 11.5%. The GNP fell to 69.6 billion dollars in 1921 from 91.5 billion dollars of 1920. Unemployment nearly doubled in one year. President Harding had inherited a war trodden economy. He that “less government in business” will work and it really did. He cut the federal expenditure and taxes simultaneously. The loose control of Govt. over the free economy served as an incentive for private sector and the GNP increased to 74.1 billion dollars in 1922 .The rate of unemployment came down to 6.7 %. GNP continued to increase year by year that’s why we refer the twenties as “the roaring twenties”. The 1920 depression lasted only two and a half years due to Harding’s policies. Jim Powell has advocated that Obama should follow the economic model of Harding rather than FDR because the planned or controlled economies cannot grow as fast as the free economies.
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#1. To: dont eat that (#0)
The 20's were built on Free Credit that the Fed tried to stem all at once...
Notice he's not bring alone his sad sack son. Badeye [well in the throes of in an obvious Crown Royal moment] posted on 2007-03-29 15:58:16 ET Reply Trace
It's worth noting that he was able to cut taxes as we were coming out of a war. Back then we actually paid for our wars, unlike now.
Being a Republican means you get to choose your own reality.
So true. Unfortunate precedents set by Truman, Kennedy and LBJ.
my anti groupie can't get through life without me.
Back then you weren't allowed to profit from war...
I've met quite a few Red's players, and Bengals players over the past thirty years or so, but thats the closets I come to being around pro athletes. Badeye [being Freudian] posted on 2007-03-29 16:32:21 ET Reply Trace
What war[s] did these two not pay for?
I've met quite a few Red's players, and Bengals players over the past thirty years or so, but thats the closets I come to being around pro athletes. Badeye [being Freudian] posted on 2007-03-29 16:32:21 ET Reply Trace
Ever heard of the trading with the enemy act? The one before Roosevelt changed it to target Americans too.
Yep...Prescott Bush [Poppy's poppy] case in point...
I've met quite a few Red's players, and Bengals players over the past thirty years or so, but thats the closets I come to being around pro athletes. Badeye [being Freudian] posted on 2007-03-29 16:32:21 ET Reply Trace
Great example of how our schools are failing generations of students, by not providing facts without partisan bullshit.
my anti groupie can't get through life without me.
Huh? It looks to me like the debt fell during the presidencies of each of the three you noted above. Is this another fact-less argument of yours?
Being a Republican means you get to choose your own reality.
Yep...Prescott Bush [Poppy's poppy] case in point... The original act was from the wwI period. It allowed us to cease enemies gold. Making it profitable.
I didn't say a thing about 'debt'. Is that another example of you making things up, attributing it to somebody, and then pretending it was real? Yep.
my anti groupie can't get through life without me.
Your chart shows that the debt was worse under Clinton then bush 1 and Reagan. It also shows that it is worse under Obama then bush 2.
(chuckle) Shhhhh, he's on a roll....
my anti groupie can't get through life without me.
It also shows that it is worse under Obama then bush 2. Yes, it was higher under Clinton and under Bush 1 and Reagan, but note the trend. And yes, it is much higher under Obama than under any previous president. He also inherited a deficit that was higher than under any previous president. I've said numerous times that he needs to turn the curve back downward, but I'll also note that thusfar Republicans have resisted any and all attempts to cut spending, whether it be the F-17, the C5A, or reductions in Medicare.
Being a Republican means you get to choose your own reality.
OK, you said Truman, JFK and LBJ didn't pay for their wars. So...if they didn't pay, but they didn't borrow, then wtf are you talking about?
Being a Republican means you get to choose your own reality.
LBJ definitely got creative with financing Viet Nam...but Truman and Kennedy?
I've met quite a few Red's players, and Bengals players over the past thirty years or so, but thats the closets I come to being around pro athletes. Badeye [being Freudian] posted on 2007-03-29 16:32:21 ET Reply Trace
No. I said they set an unfortunate precedent. (laughing) You know better than to make things up, and then attribute them to me.
my anti groupie can't get through life without me.
...and tripled it for no discernible gain.
my anti groupie can't get through life without me.
Yes....back in the early 1900's all the companies making things like planes and bullets did so at cost....no profit. Altrusim at it's best. You just get stupider and stupider as the days roll by and it's why only your brownshirt obamatard buddies dimly nod their heads.
Death to everybody who does not get outta my way.
Not worth responding to your ignorance on the subject when all you had to do was google...
I’ll see what I can do about posting a more current pic, if you really want one. Badeye posted on 2003-03-15 09:26:22 ET Reply Trace
(chuckle) He's not very bright, just a nasty pussy on the internet.
my anti groupie can't get through life without me.
I’ll see what I can do about posting a more current pic, if you really want one. Badeye posted on 2003-03-15 09:26:22 ET Reply Trace
The dude used to have a glimmer of respectability.....that is, before becoming the face/posterboy for early onset polito-"Alheimers". Today the shell of a guy is no more than a droning verbally thuggish version of floorlicker extraordinaire GotObama65. It's classic to note when I cut his wheels right out from under him on the "war for profit" moronicism, his best retort is that I should use google to search for .......... vapor......snort.....chuckles.......
Death to everybody who does not get outta my way.
Consider the insanity...and the free time required, to search the LP database for a comment from seven years ago to use as a tag line....(laughing) The irony is found in that it validates my tag line, and displays the level of insanity this pussy currently is afflicted with. As others have realized lately via facebook, one of us is 'as advertised'...the other is the fraud of Long Island.
my anti groupie can't get through life without me.
#2. To: dont eat that (#0)
#3. To: go65 (#2)
Back then we actually paid for our wars, unlike now.
#4. To: go65 (#2)
#5. To: Badeye (#3)
Unfortunate precedents set by Truman, Kennedy
#6. To: war (#4)
Back then you weren't allowed to profit from war...
#7. To: A K A Stone (#6)
Ever heard of the trading with the enemy act?
#8. To: dont eat that (#0)
Most people are not aware of 1920 depression because President Warren G. Harding devised excellent economic policies that brought the United States Economy out of depression.
#9. To: Badeye (#3)
So true. Unfortunate precedents set by Truman, Kennedy and LBJ.
#10. To: war (#7)
Ever heard of the trading with the enemy act?
#11. To: go65 (#9)
#12. To: go65 (#9)
#13. To: A K A Stone (#12)
#14. To: A K A Stone (#12)
Your chart shows that the debt was worse under Clinton then bush 1 and Reagan.
#15. To: Badeye (#11)
I didn't say a thing about 'debt'. Is that another example of you making things up, attributing it to somebody, and then pretending it was real?
#16. To: go65 (#15)
(Edited)
#17. To: go65 (#15)
OK, you said Truman, JFK and LBJ didn't pay for their wars.
#18. To: go65 (#14)
He also inherited a deficit that was higher than under any previous president
#19. To: war, badeye (#4)
Back then you weren't allowed to profit from war...
#20. To: e_type_jag (#19)
(Edited)
#21. To: e_type_jag (#19)
#22. To: Badeye (#21)
#23. To: Badeye (#21)
just a nasty pussy on the internet.
#24. To: e_type_jag (#23)
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