A very great man of bold vision and courage. He stook to his principles and wasn't swayed by the powerful political interests of the rebublicans, FDR ranks up there with Lincoln and Jefferson!!
This was a great, great man! I wouldn't be here without him. My parents would literally have starved withouth his new deal. He was voted to 4 terms for a very good reason. The people loved him
Imagine your in the car with a drunk. He goes down the road hitting parked cars and trees. You final make it home alive and then some nut says think god FDR was driving that car
These republicans talking about fiscal conservativism is funny. The nonsense about FDR prolonging the depression is funnier. Thank you for the FDIC President FDR for saving us from another 1929 crash last Semtember. The man lives on.
totally with you Knixphan. its time that the repubs stopped trying to change history from how it really occurred. I can't wait until Obama cleans up the mess the right wingers made, and I hope everyone will be able to finally get their lives back on track again. It's been a dreary 8 yrs, but now its the beginning of something new and great.
FDR prolonged the Great Depression by YEARS due to applying socialist "solutions". Obama's "stimulus" package is history repeating itself. Obama and those that support the "stimulus" package are only prolonging our national agony. Cutting income taxes and reducing government spending is the only PROVEN method of recovery for what ails our economy. Repeating the same mistakes of the 1930's will only bring us more misery.
You're a moron, FYI. And by the way, FDR's programs prevented so many potential depressions and so much stock market corruption that you wouldn't believe it if you saw it. But you must be a neocon right? I suppose you read Stephen Colbert's uber-right-wing, bestselling history book: "The American Vision: Islamo-Facist Muslims Committed 9/11 P.S. FDR was a Jerk!"
Ha ha ha ha you obviously can't argue with me so you invent something I never said so you can argue with that. I never said anything about 100% income tax rates so obviously you can't a fight with me...oops, you already did. Bizarre. And FDR did not prolong the Depression. Even though WWII really was the clincher, the New Deal lessened it a great deal as well. Of course, it was so bad that even a huge improvement was a net improvement in the negative numbers, but still huge.
Argue with what? You didn't state any facts to argue with. It's laughable that you separate government programs with the inevitable raising of taxes that they produce. So far I've seen nothing from you and the others that think like you except calling everyone who disagrees with you "neocons". The results of FDR's "programs" are recorded in history. 7 years of depression that only ended when a world war demanded it. Can't argue with history, although you and your ilk try to change it.
7 years of depression? Yes, after four years of godawful, devastating, soul crushing depression, FDR came along and with him came 7 years of recovery, which was then speeded up right out of depression by WWII. I'm not saying WWII didn't end the depression, I'm just saying that FDR helped it a great deal. And I was laughing at your moronic "100% income tax"--of course there's higher taxes--and higher taxes do good in certain situations.
FDR prevented "so many potential depressions." LOL!!!! His depression was the longest depression on record, lasting more than a decade.
Just because someone opposes socialism and central planning does not mean they're a neocon. In fact, neoconservativism is another form of socialism. Bush pissed away billions on rebuilding stupid Iraq and pissed away trillions more here at home on stupid shit like medicare part D and no child's behind left alone.
A lot of the infrastructure that generates and transports our electricity, keeps our rivers from flooding our towns and many of the roads were built on the cheap under FDR's presidency.
Companies that immediately come to mind are TVA and BPA both of which revenue-neutral and both provide their customers with the cheapest electricity in the country.
Your logic that FDR lengthened the depression by building dams, roads and bridges and helped control flooding seems flawed
No one's complaining about things like the Hoover Dam or other NECESSARY infrastructure projects.
I get power from the BPA and it far from the cheapest power in the country because we have to compete with consumers in CA on price. I pay an average of $0.10/kwh.
I never said that FDR lengthened the depression by building infrastructure projects. I said that he did so through central planning with the National Recovery Administration.
Ok, your commentary is far more intelligent than most I run into on here.
FDR knew the root cause but did not take the right approach in some cases. For instance your claim about family farms. Perhaps the gov stepping in and paying down some of the loan would have been a better approach than fixing food prices, is that what you are saying?
Doing nothing would have resulted in more default and more banks going under.
Hahaha...the Depression was all Hoover's fault, and the stock brokers, and a load of other economic problems. How the hell could it be FDR's Depression if it was in full swing before he even got into office?
FDR's programs may not have *initially* done much to help the Depression, but the programs he put in place provided safeguards that stopped many another meltdown.
I am not saying that non-socialism is being a neocon. I'm just stating the facts.
Not only that, the key to stopping a depression is production and international trade. In order to really get international trade going you need an international financial system. The only one that existed before was the pound system which collapsed and the British in their typical fashion stalled the creation of a new system. One the Bretton Woods system was in place, things really started moving forward. That and Lend lease to the Russians and UK.
Furthermore, Reagan inherited a 7.5% unemployment rate and left office with a 5.4% rate.
Carter inherited a 7.5% rate and left office with a 7.5% rate.
Carter inherited a 5.22% inflation rate and slithered out of office with an 11.83% rate.
Reagan inherited an 11.83% rate and left office with 4.67% rate. Sure, Carter does deserve some of the credit for inflation being decreased with the appointment of Paul Volker, the best central banker, ever. But he deserves blame for Burns and Miller.
Reagan also instituted policies that massively increased the deficit and spurred inequality, really starting both persistent problems. None of Reagan's supply side policies actually mattered in the end. Paul Volckers answer was to rein in the money supply, which is a policy perfectly within Keynesian doctrine, that being my point. Kenyesianism was not rebuked by the stagflation, which was started by policies Keynes and Keynesians generally would've been opposed.
I think you're forgetting something here. In the light of this financial shitstorm, Reagan's economic policies seem to somehow trump the fact that he *ended the fucking Cold War!*
Amer need her manufacturing base-quickjob creation!Why do I have 2have chinese on my back &up my arse?Really,can Am make my Hanes n USA!My food-I can do w/o melamine,thank u!We need MadeInUSA brand back &how about MadeinOhio(whatever ur state makes).States need 2get creative 2!Charge entrance 4visiting state like when u go on GoldenGate!How about road-hi spd? take me straight 2LV from SJ(bayarea)!Imagine job created there!Let's blow up some mtns man!Make ur lists,not all states have same needs!
Began his presidency in an economic crisis that the Americans kneel. Managed to reverse and create a superpower with solid foundations. The elections of 2008 again have a major economic crisis. Americans go to vote in elections in November, because it is very critical for your history. I said to be in 2008 in USA but I am not finished.
Are you kidding? FDR turned the 1929 recession into a depression. The depression didn't really end until 1943, 10 years after the start of FDR's presidency.
If you look at my fav. videos, you'd see that I'm not right wing. I've wanted bush impeached since 2001. I believe in gay marriage, 1st trimester abortion, legalization of drugs, a clean environment. I'm atheist, anti-war, anti-torture, and anti-death penalty.
How am I right wing, again?
The GD is very well documented and 12 of the 15 years it lasted was on FDR's watch. It's universally accepted among economists that FDR and the Govt made things worse.
"Among Economists" like who? The CATO institute? Fox news? Those 2 partisan economists from UCLA? If you dig a bit you will be very hard pressed to find anyone who backs this revisionism up about FDR who are credible/widespread as you have been lead to beleive.
How about Nobel Prize-winning economist Milton Friedman?
Ben Bernanke, "Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve. I would like to say to Milton and Anna: Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again."
The liberal Keynesian view was totally discredited in the 1970s when we had high unemployment AND high inflation. A new term was coined, The Misery Index.
Friedman: "I am a libertarian with a small 'l' and a Republican with a capital 'R.' And I am a Republican with a capital 'R' on grounds of expediency, not on principle. I think the term classical liberal is also equally applicable."
Friedman's views are similar to that of Ron Paul, who's the nemesis of the neocons within the GOP.
Ben Bernanke is referring to the Fed policies, not to New Deal policies. This isn't semantics because New Deal policies were fiscal, while Fed governs the money supply.
Also, Keynesian policies were not discredited by the "stagflation" (which is a funny word because under Carter, the economy grew a solid avarage of 3.2 % annually) If anything, the stagflation was solved through policies that Keynes would have suggested; i.e. through the tightening of money supply.
"Also, Keynesian policies were not discredited by the "stagflation."
Sure they were. Keynes and others held that inflation was associated with periods of full employment (Phillips Curve). They ignored the possibility that the curve could shift.
Things were so bad in the late 70s that a new term was coined, "The Misery Index." Unemployment, inflation, and interest rates were all in the double digits. That is a disaster.
Many countries have had full employment and low inflation at some time or another. (and Keynesian conception of full employment isn't always 100 %). Once again, the economy in the seventies was bad, but performed better under Carter than the economy under Bush II with a solid avarage annual growth of 3.2 %, which is better than Reagan. So it wasnt that bad. Furthermore, a lot of the problems of the 70s were caused by Nixon's wage and price control policies, which keynes had opposed in Europe.
Yes, however, they were not Carter's policies: it is not politically easy to abolish an established program. Carter's policies were pretty good overall, spurring a solid growth rate better than Reagan's.
They became his when he continued them. Just like Obama takes ownership of Bush's policies when he continues them.
"Carter's policies were pretty good overall, spurring a solid growth rate better than Reagan's."
Actually, the source I have says 3.4% avg/year for both carter and reagan. But reagan had growth with low inflation while carter had very high inflation.
If you look at 1983-1989, you have a solid avg. growth rate of 4.0%.
The Hawley-Smoot Tariff Act was also another key cause of the GD. Economists at the time knew what a disaster it would be. 1000 economists signed a petition against it before it was signed into law.
Hoover increased federal spending by 47 percent over the three years following the 1929 stock market crash. As a result, federal spending increased from 3.4 percent of GDP in 1930 to 6.9 percent in 1932 and reached 9.8 percent by 1940. That same year-- 11 years into the Great Depression--America's unemployment rate stood at 14.6%.
EPIC FAIL!
The UCLA Economics Dept calculated that FDR's New Deal policies prolonged the great depression by 7 years.
Few economists support the view that FDR's new deal policies prolonged the Great Depression. Furthermore, the Great Depression was ended by the WW2, which was a massive Keynesian public works program. Before that, the New Deal programs, while massive, were offset by coinciding spending cuts on state and local level, which FDR could not stop.
"Few economists support the view that FDR's new deal policies prolonged the Great Depression."
Then why did the great depression last for 13 years despite 13 years of vastly increased government spending and regulation?
The economy emerged from the depression in 1942, just before we entered WWII.
It wasn't so much the fiscal programs. It was the regulation and price controls. 7 million americans starved while FDR burned fields to prop up prices. That's a crime against humanity.
Again, the Federal spending increases were offset by cuts on state and local level. Furthermore, FDR was also too eager to balance the budget, which was a mistake. The great depression lasted as long as it did for various reasons.
Nobody could afford to buy food because FDR was deliberately trying to fix food prices.
Yes, people starved because they were unemployed and that was a result of Criminal Reserve inflationary policy creating an artificial boom in the 1920s creating imbalances and malinvestment in the economy. Then the Criminal Reserve made it worse by deliberately deflating the economy. FDR also made it worse by attempting to centrally plan the economy, setting production, wages, and prices.
Farms were going under because of the credit bubble implosion (deflation). Most family farms had mortgages on them and their payments did not adjust with deflation.
FDR, in a number of industries, attempted to prop up prices and wages thus depressing employment. Ever hear of the National Recovery Administration? Ever hear of supply and demand curves? If you establish wage and price floors, less will be sold and you will cause deadweight losses. This is a mathematical fact.
Now just a minute ago you said it was FDR's fault that people were starving, now you are blaming the policies of the FED and Hoover in the years prior.
FED policies and Hoover policies like Smoot-Hawley caused the initial economic collapse in 1929. The FED continued its disastrous monetary central planning throughout the 30s.
FDR added insult to injury by fixing wages and prices and making food and everything else even more unaffordable to the unemployed and underemployed masses.
"Furthermore, the Great Depression was ended by the WW2"
The recovery was well on its way when pearl harbor was bombed. 1939 had 17.2% unemployment, 1940 had 14.6, and 1941 had 9.9.
Had the war not happened, the recovery would have likely continued. War is never good, for the economy or for people. A war economy produces stuff for war and people and things get blown up. Having capital getting blown up is a bad thing.
Yes, partly due to New Deal stimulus programs things did get better: 9.9 % unemployment was still high, combined with other problems. The war employed people; thus ending the depression, and once the war-time rationing (which restricted consumption almost to the bare essentials) was lifted, you had a housing and consumption boom.
Since FDR every president takes credit for economic upswing by saying it was caused by their policies. The truth is that ina free market system the economy always has down cycles and up cycles that the govt can't control.
But the Govt does control them. It controls the cycles from becoming so large that the
country is destroyed. Thats what the Great Depression was...the result of the imbecile "hands off" and "markets always self correct" philosophy. As Keynes said, "sure the market always corrects in the long run, but in the long run we are also dead"
in 1935 the gap between rich and poor was wider than it had ever been in the US, after these changes that gap was drastically reduced... this gap stayed moderately considerate until 1985. Within 10 years that gap will be the same as it was in 1935.
yes because this stupid ignorant country of ours voted in Reagan! Trickle down economics starts, and the destruction of the middle class begins! Really tragic that working class people buy into right wing bullshit!
Clinton was there for 8 of those. Are you saying that Clinton extended Reagan's economic policies such as trickle down?
If you hate Reagan because he looked like a big eraser head, then fine, hate him. Your hatred isn't going to hurt a dead man. But back your attacks up with facts.
just for starters, how about how he turned 8 straight years of deficits...how he shit canned the fairness doctrine... how he busted the traffic controllers union...wake up and see what is going on!!! seems like you people just dont want a democracy anymore, bring it back to the aristocracy way of life again huh? let us be a third world country huh? heartless people...yes the world of being a conservative!
RR demanded and never got a balanced budget ammendment. As for firing the air traffic controlers it was no different than Truman threatening to draft the railroad workers during the strike of '46.
And as I said before, go to my page. I'm not a right winger.
I have Anti Iraq War posts up on Youtube.
You spout platitudes and call others blind but you have no facts.
b) My employer is a nice person who wants to see me able to make a living
c) My employer pays me lots of money to go out there and work so he can MAKE A LOT OF MONEY.
if you answered a or b I wouldn't be surprised but the correct answer is c. Employers hire people because they ambitious/greedy so they create a business to do that.
well, when all the jobs are over seas and we have no middle and no democracy anymore tell me how you feel then? That is exactly what is going on now, greed and more greed. Screw quality of life just fuck everybody and anybody!
Once all the jobs leave then I think people here would begin to do something to become economically sound. Many of our people will have millions to spend and invest in businesses which will hire people. Others will have less to invest and build smaller businesses and most will get jobs at these new businesses. Thats generally how it works and everywhere where the govt didn't get involved poverty decreased.
FDR saved America from Fascism if you think, and possibly more socailism at the time. WPA was bad idea, as was NRA, and other acts that bordering on violating interstate commerce rules. FDR overall probadly in the top 10 of greatest presidents of all time. I did not agree with minimum wage idea, but at the time alterantive of fasicm was worse
You are right gizmosells. Herbert Hoover, a very decent man , by the way did not understand that the crisis demanded immediate gov't action and lost his Presidency because of it. People could not maintain themselves long enough for a recovery of the economy to take place. Recovery was simply to far in the future to meet immediate needs. In their anxiety, even fascism or socialism may have been thinkable alteratives, had the gov't not acted decisively.
Basically he was on-board with the central bankers and their scheme to continually expand and contract the monetary supply to create inflation and boom/bust cycles that insiders in the know could take advantage of to transfer most of the nation's wealth to the richest 1%. Look deeper.
your analylsis is wrong because tighting the money supply caused the great depression period. Delfation is as bad or worse than inflation. The Federal Resevers was created because of the bank panic of 1937
it's not my analysis, but you're welcome to attempt to explain how deflation is as bad or worse than inflation. if you want to get a less myopic view of the history of the Fed and the central bankers in America check out a nearly four-hour video called "the money masters".
Roosevelt confiscated the gold of American citizens in 1933, and, once the gold had come in and had been turned over to the privately owned Federal Reserve System, he raised the price by 75% in 1934, thereby transferring to the FED a huge windfall profit. Commercial banks created new credit money based on the new reserves. The result was the economic recovery of 1934-36. But when the FED raised bank reserve requirements in 1936, this produced the deep recession of 1937.
CON-servatives and rightards are really deluded with the notion that Ronald Reagan really did something for America, and believe Reagan should share the same mantle of presidential greatness with FDR. I got news for you Repugs,CON-servatives, rightards. Ronald Reagan didn't do shit for America compared to what this man did!!
Seriously, this GREAT LEADER, (who Reagan, will never be able to even touch FDR's toes in terms of
leadership, compassion, intelligence, and concern for all CITIZENS).Time does not guarantee improvement. Where is anyone on both political sides showing the LEADERSHIP and COURAGE OF THIS GREAT MAN?
Unfortunately, the few that have, die very young and in mysterious ways...only the mediocre, cowardly and downright pathological seem to survive.
Indeed a President who actually cares about the common folk. What a concept!!!! Just shows that the "march of time" doesn't necessarily bring about "progress"...It's extremely frightening how we have far this nation has slipped in terms of leadership from FDR who can actually speak intelligently (I guess that's why he sounds "British"), to today with W., and what he can't..oh heck., just forget about it. :(
Too bad he wasn't as passionate about fighting the Nazis as he was about fighting the Depression. Who knows what would've happenned if Japan hadn't attacked Pearl Harbor. Had the US entered WWII, when it first started, the allies would've made short work of Hitler and the Nazis.
US didn't want to enter the war but that attitude changed after the Pearl Harbor Bombing. It was way too unpopular, but after the bombing, everyone in the US wanted to go to war against Japan, FDR did the best he could.
He was from the northeast, which we usually speak non-rhotic (not pronouncing Rs in some cases). Also, he was highly educated and is high class. So think of the show Fraiser.
He had the manner of speech a Groton graduate would have. Roosevelt went to Groton School, an Episcopal boarding school in Massachusetts, in his youth.
How many people did the PWA put to work?
nickmuncy12 2 months ago
A very great man of bold vision and courage. He stook to his principles and wasn't swayed by the powerful political interests of the rebublicans, FDR ranks up there with Lincoln and Jefferson!!
greg4161 7 months ago
WW2 helped the U.S. get out of the depression so what if people died
BusterBlader910 1 year ago
Asian sugar babies #lushfmlk.info#
fififamiliya 1 year ago
FDR got us into WW2 read "Day of Deceit"
Ron Paul 2012
RunLiberty 1 year ago
@RunLiberty eat shit.
MaydayCharade 1 month ago
This was a great, great man! I wouldn't be here without him. My parents would literally have starved withouth his new deal. He was voted to 4 terms for a very good reason. The people loved him
johnstondr1 1 year ago
GOP pea brains have no credibility
blradcl 3 years ago
Imagine your in the car with a drunk. He goes down the road hitting parked cars and trees. You final make it home alive and then some nut says think god FDR was driving that car
BigBillClinton 3 years ago
These republicans talking about fiscal conservativism is funny. The nonsense about FDR prolonging the depression is funnier. Thank you for the FDIC President FDR for saving us from another 1929 crash last Semtember. The man lives on.
warbler44 3 years ago 12
Yeah, because central planning works every time it's tried, RIGHT???
fubecabr 2 years ago
Funny how the wingnuts are trying to revise history in order to smear Obama. Won't work.
Facts are hard to ignore. And the Obstructionist party has a lovely 8-year track record that we won't soon forget.
New Deal II is on it's way. You can't stop it. People's lives will improve and your talking points will be debunked.
What was that saying you repubs used to use all the time? Oh yeah...
'America: Love it or leave it.'
knixphan 3 years ago
totally with you Knixphan. its time that the repubs stopped trying to change history from how it really occurred. I can't wait until Obama cleans up the mess the right wingers made, and I hope everyone will be able to finally get their lives back on track again. It's been a dreary 8 yrs, but now its the beginning of something new and great.
chevalover06 3 years ago
FDR prolonged the Great Depression by YEARS due to applying socialist "solutions". Obama's "stimulus" package is history repeating itself. Obama and those that support the "stimulus" package are only prolonging our national agony. Cutting income taxes and reducing government spending is the only PROVEN method of recovery for what ails our economy. Repeating the same mistakes of the 1930's will only bring us more misery.
Hazwaste63 3 years ago
We have done what you have said for the last 30 years. Reagan, Clinton and goofus troopus Bush sent us down the drain with tax cuts.
donkuss 3 years ago
You're a moron, FYI. And by the way, FDR's programs prevented so many potential depressions and so much stock market corruption that you wouldn't believe it if you saw it. But you must be a neocon right? I suppose you read Stephen Colbert's uber-right-wing, bestselling history book: "The American Vision: Islamo-Facist Muslims Committed 9/11 P.S. FDR was a Jerk!"
grumpytosnowwhite 2 years ago 9
Wow, you're in depth analysis has sure convinced me Junior. So let's have 100% income tax rates and the economy will really take off.
And I'm a Libertarian peckerwood.
Hazwaste63 2 years ago
Ha ha ha ha you obviously can't argue with me so you invent something I never said so you can argue with that. I never said anything about 100% income tax rates so obviously you can't a fight with me...oops, you already did. Bizarre. And FDR did not prolong the Depression. Even though WWII really was the clincher, the New Deal lessened it a great deal as well. Of course, it was so bad that even a huge improvement was a net improvement in the negative numbers, but still huge.
grumpytosnowwhite 2 years ago
Argue with what? You didn't state any facts to argue with. It's laughable that you separate government programs with the inevitable raising of taxes that they produce. So far I've seen nothing from you and the others that think like you except calling everyone who disagrees with you "neocons". The results of FDR's "programs" are recorded in history. 7 years of depression that only ended when a world war demanded it. Can't argue with history, although you and your ilk try to change it.
Hazwaste63 2 years ago
7 years of depression? Yes, after four years of godawful, devastating, soul crushing depression, FDR came along and with him came 7 years of recovery, which was then speeded up right out of depression by WWII. I'm not saying WWII didn't end the depression, I'm just saying that FDR helped it a great deal. And I was laughing at your moronic "100% income tax"--of course there's higher taxes--and higher taxes do good in certain situations.
And there are plenty of crazed uber-liberals too.
grumpytosnowwhite 2 years ago
FDR prevented "so many potential depressions." LOL!!!! His depression was the longest depression on record, lasting more than a decade.
Just because someone opposes socialism and central planning does not mean they're a neocon. In fact, neoconservativism is another form of socialism. Bush pissed away billions on rebuilding stupid Iraq and pissed away trillions more here at home on stupid shit like medicare part D and no child's behind left alone.
fubecabr 2 years ago
@fubecabr
A lot of the infrastructure that generates and transports our electricity, keeps our rivers from flooding our towns and many of the roads were built on the cheap under FDR's presidency.
Companies that immediately come to mind are TVA and BPA both of which revenue-neutral and both provide their customers with the cheapest electricity in the country.
Your logic that FDR lengthened the depression by building dams, roads and bridges and helped control flooding seems flawed
flanksteak1 2 years ago
No one's complaining about things like the Hoover Dam or other NECESSARY infrastructure projects.
I get power from the BPA and it far from the cheapest power in the country because we have to compete with consumers in CA on price. I pay an average of $0.10/kwh.
I never said that FDR lengthened the depression by building infrastructure projects. I said that he did so through central planning with the National Recovery Administration.
fubecabr 2 years ago
Ok, your commentary is far more intelligent than most I run into on here.
FDR knew the root cause but did not take the right approach in some cases. For instance your claim about family farms. Perhaps the gov stepping in and paying down some of the loan would have been a better approach than fixing food prices, is that what you are saying?
Doing nothing would have resulted in more default and more banks going under.
flanksteak1 2 years ago
Hahaha...the Depression was all Hoover's fault, and the stock brokers, and a load of other economic problems. How the hell could it be FDR's Depression if it was in full swing before he even got into office?
FDR's programs may not have *initially* done much to help the Depression, but the programs he put in place provided safeguards that stopped many another meltdown.
I am not saying that non-socialism is being a neocon. I'm just stating the facts.
grumpytosnowwhite 2 years ago
Not only that, the key to stopping a depression is production and international trade. In order to really get international trade going you need an international financial system. The only one that existed before was the pound system which collapsed and the British in their typical fashion stalled the creation of a new system. One the Bretton Woods system was in place, things really started moving forward. That and Lend lease to the Russians and UK.
gosciu555 2 years ago
Furthermore, Reagan inherited a 7.5% unemployment rate and left office with a 5.4% rate.
Carter inherited a 7.5% rate and left office with a 7.5% rate.
Carter inherited a 5.22% inflation rate and slithered out of office with an 11.83% rate.
Reagan inherited an 11.83% rate and left office with 4.67% rate. Sure, Carter does deserve some of the credit for inflation being decreased with the appointment of Paul Volker, the best central banker, ever. But he deserves blame for Burns and Miller.
fubecabr 3 years ago
Reagan also instituted policies that massively increased the deficit and spurred inequality, really starting both persistent problems. None of Reagan's supply side policies actually mattered in the end. Paul Volckers answer was to rein in the money supply, which is a policy perfectly within Keynesian doctrine, that being my point. Kenyesianism was not rebuked by the stagflation, which was started by policies Keynes and Keynesians generally would've been opposed.
Bellator656 3 years ago 2
I think you're forgetting something here. In the light of this financial shitstorm, Reagan's economic policies seem to somehow trump the fact that he *ended the fucking Cold War!*
grumpytosnowwhite 2 years ago
Amer need her manufacturing base-quickjob creation!Why do I have 2have chinese on my back &up my arse?Really,can Am make my Hanes n USA!My food-I can do w/o melamine,thank u!We need MadeInUSA brand back &how about MadeinOhio(whatever ur state makes).States need 2get creative 2!Charge entrance 4visiting state like when u go on GoldenGate!How about road-hi spd? take me straight 2LV from SJ(bayarea)!Imagine job created there!Let's blow up some mtns man!Make ur lists,not all states have same needs!
1rendezvous 3 years ago
Began his presidency in an economic crisis that the Americans kneel. Managed to reverse and create a superpower with solid foundations. The elections of 2008 again have a major economic crisis. Americans go to vote in elections in November, because it is very critical for your history. I said to be in 2008 in USA but I am not finished.
bmplefour 3 years ago
this should be obama's guide to the presidency.
harshvgaus 3 years ago
"this should be obama's guide to the presidency."
Are you kidding? FDR turned the 1929 recession into a depression. The depression didn't really end until 1943, 10 years after the start of FDR's presidency.
fubecabr 3 years ago
More right-wing revisionist crap.
Steeplerot 3 years ago
What makes you think I'm right wing?
If you look at my fav. videos, you'd see that I'm not right wing. I've wanted bush impeached since 2001. I believe in gay marriage, 1st trimester abortion, legalization of drugs, a clean environment. I'm atheist, anti-war, anti-torture, and anti-death penalty.
How am I right wing, again?
The GD is very well documented and 12 of the 15 years it lasted was on FDR's watch. It's universally accepted among economists that FDR and the Govt made things worse.
fubecabr 3 years ago
"Among Economists" like who? The CATO institute? Fox news? Those 2 partisan economists from UCLA? If you dig a bit you will be very hard pressed to find anyone who backs this revisionism up about FDR who are credible/widespread as you have been lead to beleive.
Steeplerot 3 years ago
How about Nobel Prize-winning economist Milton Friedman?
Ben Bernanke, "Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve. I would like to say to Milton and Anna: Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again."
The liberal Keynesian view was totally discredited in the 1970s when we had high unemployment AND high inflation. A new term was coined, The Misery Index.
fubecabr 3 years ago
Milton Friedman? The Neocon hack?
CATO institute and Neocons are not worth even bothering with.
Steeplerot 3 years ago
Friedman a neocon hack? Are you kidding?
Friedman: "I am a libertarian with a small 'l' and a Republican with a capital 'R.' And I am a Republican with a capital 'R' on grounds of expediency, not on principle. I think the term classical liberal is also equally applicable."
Friedman's views are similar to that of Ron Paul, who's the nemesis of the neocons within the GOP.
fubecabr 3 years ago
RP is worse then a Neocon.
Steeplerot 3 years ago
So you're a statist?
fubecabr 3 years ago
Ben Bernanke is referring to the Fed policies, not to New Deal policies. This isn't semantics because New Deal policies were fiscal, while Fed governs the money supply.
Bellator656 3 years ago
"Ben Bernanke is referring to the Fed policies, not to New Deal policies."
FED Policy was a part of new deal policy. Who do you think appointed the Chairman and the Governors of the Criminal Reserve?
fubecabr 3 years ago
The Central Banking policies can be considered outside New Deal package, which was primarily fiscal. The Fed's role is monetary.
And the Fed isn't illegal. You shouldn't take paranoid conspiracy freaks seriously.
Bellator656 3 years ago
"And the Fed isn't illegal."
Technically, no. The Federal Reserve Act made it legal. That doesn't mean that what they do to the american people isn't immoral.
"I believe that banking institutions are more dangerous to our liberties than standing armies"
-Pres. Jefferson
"Permit me to issue and control the money of the nation and I care not who makes its laws." — Mayer Amsched Rothchild
fubecabr 3 years ago
Loonytarian piffle. The Fed is a perfectly legal institution: whether you think it's moral what it does or not is largely irrelevant.
Bellator656 3 years ago
"Loonytarian piffle."
Loony? What's loony about believing in personal and economic liberty? Or sound money?
"The Fed is a perfectly legal institution: whether you think it's moral what it does or not is largely irrelevant."
I already said it was a legal institution, created by the Federal Reserve Act. That doesn't make it moral or the best course of action.
Screwing the american people by mismanaging the economy, stealing from them via inflation and deflation, is immoral in my book.
fubecabr 3 years ago
Also, Keynesian policies were not discredited by the "stagflation" (which is a funny word because under Carter, the economy grew a solid avarage of 3.2 % annually) If anything, the stagflation was solved through policies that Keynes would have suggested; i.e. through the tightening of money supply.
Bellator656 3 years ago
"Also, Keynesian policies were not discredited by the "stagflation."
Sure they were. Keynes and others held that inflation was associated with periods of full employment (Phillips Curve). They ignored the possibility that the curve could shift.
Things were so bad in the late 70s that a new term was coined, "The Misery Index." Unemployment, inflation, and interest rates were all in the double digits. That is a disaster.
fubecabr 3 years ago
Many countries have had full employment and low inflation at some time or another. (and Keynesian conception of full employment isn't always 100 %). Once again, the economy in the seventies was bad, but performed better under Carter than the economy under Bush II with a solid avarage annual growth of 3.2 %, which is better than Reagan. So it wasnt that bad. Furthermore, a lot of the problems of the 70s were caused by Nixon's wage and price control policies, which keynes had opposed in Europe.
Bellator656 3 years ago
"Many countries have had full employment and low inflation at some time or another. "
That is correct.
"(and Keynesian conception of full employment isn't always 100 %)."
Right, full employment usually means 3-5% unemployment.
"Once again, the economy in the seventies was bad, but performed better under Carter than the economy under Bush II"
I'm not a bush apologist. I want him arrested.
" by Nixon's wage and price control policies"
Which carter continued.
fubecabr 3 years ago
Yes, however, they were not Carter's policies: it is not politically easy to abolish an established program. Carter's policies were pretty good overall, spurring a solid growth rate better than Reagan's.
Bellator656 3 years ago
"Yes, however, they were not Carter's policies:"
They became his when he continued them. Just like Obama takes ownership of Bush's policies when he continues them.
"Carter's policies were pretty good overall, spurring a solid growth rate better than Reagan's."
Actually, the source I have says 3.4% avg/year for both carter and reagan. But reagan had growth with low inflation while carter had very high inflation.
If you look at 1983-1989, you have a solid avg. growth rate of 4.0%.
fubecabr 3 years ago
A lot of that is recovery
Bellator656 3 years ago
The Hawley-Smoot Tariff Act was also another key cause of the GD. Economists at the time knew what a disaster it would be. 1000 economists signed a petition against it before it was signed into law.
fubecabr 3 years ago
Complete nonsense. Most mainstream economists and historians would say that FDR's policies alleviated the great depression.
Bellator656 3 years ago
Hoover increased federal spending by 47 percent over the three years following the 1929 stock market crash. As a result, federal spending increased from 3.4 percent of GDP in 1930 to 6.9 percent in 1932 and reached 9.8 percent by 1940. That same year-- 11 years into the Great Depression--America's unemployment rate stood at 14.6%.
EPIC FAIL!
The UCLA Economics Dept calculated that FDR's New Deal policies prolonged the great depression by 7 years.
fubecabr 3 years ago
Few economists support the view that FDR's new deal policies prolonged the Great Depression. Furthermore, the Great Depression was ended by the WW2, which was a massive Keynesian public works program. Before that, the New Deal programs, while massive, were offset by coinciding spending cuts on state and local level, which FDR could not stop.
Bellator656 3 years ago
"Few economists support the view that FDR's new deal policies prolonged the Great Depression."
Then why did the great depression last for 13 years despite 13 years of vastly increased government spending and regulation?
The economy emerged from the depression in 1942, just before we entered WWII.
It wasn't so much the fiscal programs. It was the regulation and price controls. 7 million americans starved while FDR burned fields to prop up prices. That's a crime against humanity.
fubecabr 3 years ago
Again, the Federal spending increases were offset by cuts on state and local level. Furthermore, FDR was also too eager to balance the budget, which was a mistake. The great depression lasted as long as it did for various reasons.
Bellator656 3 years ago
Your claim is that people were starving because FDR burned crops or ordered land out of service.
Farmers were abandoning their farms and being foreclosed on at record pace because nobody could afford to buy food.
People starved because they were unemployed and couldn't afford to eat, not because FDR stabilized family farms.
flanksteak1 2 years ago
Nobody could afford to buy food because FDR was deliberately trying to fix food prices.
Yes, people starved because they were unemployed and that was a result of Criminal Reserve inflationary policy creating an artificial boom in the 1920s creating imbalances and malinvestment in the economy. Then the Criminal Reserve made it worse by deliberately deflating the economy. FDR also made it worse by attempting to centrally plan the economy, setting production, wages, and prices.
fubecabr 2 years ago
@fubecabr
So Farms were going under before FDR got crop prices up because people were buying food and thus starving?
flanksteak1 2 years ago
Farms were going under because of the credit bubble implosion (deflation). Most family farms had mortgages on them and their payments did not adjust with deflation.
FDR, in a number of industries, attempted to prop up prices and wages thus depressing employment. Ever hear of the National Recovery Administration? Ever hear of supply and demand curves? If you establish wage and price floors, less will be sold and you will cause deadweight losses. This is a mathematical fact.
fubecabr 2 years ago
@fubecabr
Now just a minute ago you said it was FDR's fault that people were starving, now you are blaming the policies of the FED and Hoover in the years prior.
Which is it?
flanksteak1 2 years ago
FED policies and Hoover policies like Smoot-Hawley caused the initial economic collapse in 1929. The FED continued its disastrous monetary central planning throughout the 30s.
FDR added insult to injury by fixing wages and prices and making food and everything else even more unaffordable to the unemployed and underemployed masses.
fubecabr 2 years ago
How do you know those things caused the depression to begin with? I don't want to argue that point, but how do you know that's what caused it?
My 95 year old Grandmother doesn't agree with your claims about FDR's approach and the governments approach to handling the depression.
In some regards their policicies did not make things worse but they didn't help. In most regards his policies worked.
flanksteak1 2 years ago
"Furthermore, the Great Depression was ended by the WW2"
The recovery was well on its way when pearl harbor was bombed. 1939 had 17.2% unemployment, 1940 had 14.6, and 1941 had 9.9.
Had the war not happened, the recovery would have likely continued. War is never good, for the economy or for people. A war economy produces stuff for war and people and things get blown up. Having capital getting blown up is a bad thing.
fubecabr 3 years ago
Yes, partly due to New Deal stimulus programs things did get better: 9.9 % unemployment was still high, combined with other problems. The war employed people; thus ending the depression, and once the war-time rationing (which restricted consumption almost to the bare essentials) was lifted, you had a housing and consumption boom.
Bellator656 3 years ago
Don't forget that lots of young men were sent to the front lines to die.
That helps your unemployment problem quite a bit.
flanksteak1 2 years ago
Since FDR every president takes credit for economic upswing by saying it was caused by their policies. The truth is that ina free market system the economy always has down cycles and up cycles that the govt can't control.
timbosforporn 3 years ago
But the Govt does control them. It controls the cycles from becoming so large that the
country is destroyed. Thats what the Great Depression was...the result of the imbecile "hands off" and "markets always self correct" philosophy. As Keynes said, "sure the market always corrects in the long run, but in the long run we are also dead"
ehunter2 3 years ago
I have no idea if you were even alive during the 1980's but I was an adult at the time, and I saw the economic changes.
I also saw Bush 41 fumble the ball.
He was BTW the person who coined the phrase "Voodoo economics".
"Supply Side Econimics" was the term RR used. Art Laffer was the economist who taught RR the concept.
For others, go to my page so you can see that I am no neo con, but an American who protests and praises accordingly.
Cry baby Sam wants his way, wah wah.
lovelymess 3 years ago
My My,
Now we swear because we are out of words.
And we are out of facts.
You are such an intelligent representative of your cause.
But I'm the stupid one.
Listen Junior, if you post invective on a public site be prepared to be challenged.
And if you choose to parrot the rhetoric of your Marxist mentors have the decency to name the professors in question.
Of course because you've dropped the F bomb you are out of invective as well.
Your mommie must be proud.
lovelymess 3 years ago
Now here are some facts my fine fellow:
1980 Soviets on the march. 1989 Berlin Wall crumbles. 1991 USSR crumbles.
1980 22% inflation 1989 %4 inflation
1980 %12 unenployment 1989 %5 unemployment
Now if you are so blind with hatred for RR that you want to ignore these facts, I am not going to change your mind.
As I said I am no right winger and the material I post on youtube proves it.
Don't however call me blind while you yourself grope in the dark.
lovelymess 3 years ago
Where did you got this video from?
randomm4 3 years ago
in 1935 the gap between rich and poor was wider than it had ever been in the US, after these changes that gap was drastically reduced... this gap stayed moderately considerate until 1985. Within 10 years that gap will be the same as it was in 1935.
gratex 4 years ago
yes because this stupid ignorant country of ours voted in Reagan! Trickle down economics starts, and the destruction of the middle class begins! Really tragic that working class people buy into right wing bullshit!
scottsway 4 years ago
Give us facts and statistics.
Reagan has been gone for 20 year.
Clinton was there for 8 of those. Are you saying that Clinton extended Reagan's economic policies such as trickle down?
If you hate Reagan because he looked like a big eraser head, then fine, hate him. Your hatred isn't going to hurt a dead man. But back your attacks up with facts.
lovelymess 3 years ago
just for starters, how about how he turned 8 straight years of deficits...how he shit canned the fairness doctrine... how he busted the traffic controllers union...wake up and see what is going on!!! seems like you people just dont want a democracy anymore, bring it back to the aristocracy way of life again huh? let us be a third world country huh? heartless people...yes the world of being a conservative!
scottsway 3 years ago
Deficits are started and stopped by congress.
Reagan had Tip O'Neil to deal with for 8 years.
RR demanded and never got a balanced budget ammendment. As for firing the air traffic controlers it was no different than Truman threatening to draft the railroad workers during the strike of '46.
And as I said before, go to my page. I'm not a right winger.
I have Anti Iraq War posts up on Youtube.
You spout platitudes and call others blind but you have no facts.
lovelymess 3 years ago
Do the world a favor and go jump off a brigde please, lovelymess..... you actually buy into voodoo economics dont you...stupid fuck!
scottsway 3 years ago
scottsway,
Do you know why you have a job?
a) The govt makes my employer hire me
b) My employer is a nice person who wants to see me able to make a living
c) My employer pays me lots of money to go out there and work so he can MAKE A LOT OF MONEY.
if you answered a or b I wouldn't be surprised but the correct answer is c. Employers hire people because they ambitious/greedy so they create a business to do that.
timbosforporn 3 years ago
well, when all the jobs are over seas and we have no middle and no democracy anymore tell me how you feel then? That is exactly what is going on now, greed and more greed. Screw quality of life just fuck everybody and anybody!
scottsway 3 years ago
Once all the jobs leave then I think people here would begin to do something to become economically sound. Many of our people will have millions to spend and invest in businesses which will hire people. Others will have less to invest and build smaller businesses and most will get jobs at these new businesses. Thats generally how it works and everywhere where the govt didn't get involved poverty decreased.
timbosforporn 3 years ago
It's funny to imagine our current president doing something like this. You know, speaking clearly and being sincere. FDR was something else.
Paradiddler45 4 years ago
they did it with a camera u cocksucker
morbentfel 4 years ago
lololol, ask a stupid question.......
killerk0ry 4 years ago
how did people record this stuff back then??
madmonkey756 4 years ago
lmao... it's the freakin 1930s, cameras DO exist
Paradiddler45 4 years ago
FDR saved America from Fascism if you think, and possibly more socailism at the time. WPA was bad idea, as was NRA, and other acts that bordering on violating interstate commerce rules. FDR overall probadly in the top 10 of greatest presidents of all time. I did not agree with minimum wage idea, but at the time alterantive of fasicm was worse
gizmosells 4 years ago
You are right gizmosells. Herbert Hoover, a very decent man , by the way did not understand that the crisis demanded immediate gov't action and lost his Presidency because of it. People could not maintain themselves long enough for a recovery of the economy to take place. Recovery was simply to far in the future to meet immediate needs. In their anxiety, even fascism or socialism may have been thinkable alteratives, had the gov't not acted decisively.
schmegman 4 years ago
Basically he was on-board with the central bankers and their scheme to continually expand and contract the monetary supply to create inflation and boom/bust cycles that insiders in the know could take advantage of to transfer most of the nation's wealth to the richest 1%. Look deeper.
mouseturbator 4 years ago
your analylsis is wrong because tighting the money supply caused the great depression period. Delfation is as bad or worse than inflation. The Federal Resevers was created because of the bank panic of 1937
gizmosells 4 years ago
it's not my analysis, but you're welcome to attempt to explain how deflation is as bad or worse than inflation. if you want to get a less myopic view of the history of the Fed and the central bankers in America check out a nearly four-hour video called "the money masters".
mouseturbator 4 years ago
Doesn't deflation lead to over production due to increased demand and then we have a problem with the economy overheating?
blithespirits 4 years ago
Roosevelt confiscated the gold of American citizens in 1933, and, once the gold had come in and had been turned over to the privately owned Federal Reserve System, he raised the price by 75% in 1934, thereby transferring to the FED a huge windfall profit. Commercial banks created new credit money based on the new reserves. The result was the economic recovery of 1934-36. But when the FED raised bank reserve requirements in 1936, this produced the deep recession of 1937.
mouseturbator 4 years ago
brought millions of americans out of poverty and fought the fascists in WWII, definately one of the greatest men to lead this country.
historywillabsolve 4 years ago 5
Greatest president in the 20th century
xitongzou 3 years ago
CON-servatives and rightards are really deluded with the notion that Ronald Reagan really did something for America, and believe Reagan should share the same mantle of presidential greatness with FDR. I got news for you Repugs,CON-servatives, rightards. Ronald Reagan didn't do shit for America compared to what this man did!!
jimmi144 4 years ago
Comparing Reagan to FDR is an insult to FDR.
historywillabsolve 4 years ago
Seriously, this GREAT LEADER, (who Reagan, will never be able to even touch FDR's toes in terms of
leadership, compassion, intelligence, and concern for all CITIZENS).Time does not guarantee improvement. Where is anyone on both political sides showing the LEADERSHIP and COURAGE OF THIS GREAT MAN?
Unfortunately, the few that have, die very young and in mysterious ways...only the mediocre, cowardly and downright pathological seem to survive.
99sugarmonkey 4 years ago
Indeed a President who actually cares about the common folk. What a concept!!!! Just shows that the "march of time" doesn't necessarily bring about "progress"...It's extremely frightening how we have far this nation has slipped in terms of leadership from FDR who can actually speak intelligently (I guess that's why he sounds "British"), to today with W., and what he can't..oh heck., just forget about it. :(
99sugarmonkey 4 years ago
Too bad he wasn't as passionate about fighting the Nazis as he was about fighting the Depression. Who knows what would've happenned if Japan hadn't attacked Pearl Harbor. Had the US entered WWII, when it first started, the allies would've made short work of Hitler and the Nazis.
schnuurtchke 4 years ago
US didn't want to enter the war but that attitude changed after the Pearl Harbor Bombing. It was way too unpopular, but after the bombing, everyone in the US wanted to go to war against Japan, FDR did the best he could.
S0nnyK4ng 4 years ago
Your comment is so ignorant it should go in a museum.
You fail at history.
rivercitymud 4 years ago 2
OMG! FDR is the greatest Pres. we've had! He cared about nursing us through the depression! I LOVE HIM!
Dollysbiggestfan 5 years ago
is it just me, or does he sound british?!
edhover 5 years ago
He was from the northeast, which we usually speak non-rhotic (not pronouncing Rs in some cases). Also, he was highly educated and is high class. So think of the show Fraiser.
alonsodemonforte 5 years ago
He doesn't sound a bit like Fraiser.
justicefacer 5 years ago
It's the quality of the recording that produces the fuzzy British tone.
Paradiddler45 4 years ago
He had the manner of speech a Groton graduate would have. Roosevelt went to Groton School, an Episcopal boarding school in Massachusetts, in his youth.
schmegman 4 years ago
if only death due to a brain hemmorhage were reversable....oh if only!
altoking1867 5 years ago
A President who cares about the common people?
What country was he president of?
ltyr2001 5 years ago
US~!
S0nnyK4ng 4 years ago
Sweet, just in time for Mid Term elections!
ryanmcd 5 years ago