80 Years Later: Parallels Between 1929 and 2009 | Walter Block

Presented by Walter Block at "The Great Depression: What We Can Learn From It Today," the Mises Circle in Colorado; sponsored by Limited Government Forum of Colorado Springs and hosted by the Ludwig von Mises Institute. Recorded Saturday, 4 April 2009.

Category:

News & Politics

Tags:

• Walter
• Block
• Ludwig
• von
• Mises
• Institute
• Great
• Depression
• 2009
• Limited
• Government
• Forum
• Coloado
• Springs
• Liberty
• Property
• Peace
• Federal
• Reserve

[DarthKazi]

Walter is such a happy guy. Amazing how he can speak about such grim things, and still sound hopeful.

It gives ME hope that free-markets are the answer and are worth fighting for!

Go, Professor Block!!

[Stussy88776655]

Fannie, Freddie, the CRA and the Fed pumping out fiat money at almost zero cost and governments running record deficits were unregulated and unrestrained free market economics eh?

I think not

[polevaultrockstr]

@macroman52 I've not heard one educated free-market person say something that stupid. While their might not be any complete, total free markets. We have countless different industries that have very little, if any government regulation, and they run just fine.How would any "fanatic" make any argument ever, if there has never been such a thing. When was the last time you had a shampoo crisis? What about the last time you couldnt go to the store and get cereal? Thank the free market.

[Burdell22000]

@macroman52 Hello! Could you please explain why you find "pathetic" that "standard argument"? Thanks in advance

[macroman52]

The standard argument of free-market fanatics, as opposed to reasonable free market people (i.e. virtaully everyonr) is "There has never been a free market, so don't blame x, ot y or Z on the free market". Pathethic

[circusboy90210]

@chefshitpiece land out west or montana can be gotten for less than $100 per acre I suppose the same could be said for the northern provinces in canada but could you really live there??? joke hahahaha deserts are actually sustainable living if you can drill down to the aquifers.

[circusboy90210]

@chefshitpiece note that the 1.75 was referencing a minimum wage job (only refeerence material I know about as my grandfather was a multi millionare ) never been poor myself & don't know anything about minimum wages in the modern sense. for the average person though in the us everything is cheaper by copmarison than it was 50 -70 years ago. 40 dollars feed a family all month but average wages were $2 a day @ times & rent was $20 did not leave mutch for discretionary funds. as today.

[chefshitpiece]

@circusboy90210 My numbers come from Stats Canada, so argue with them. If your numbers about America's housing and wages are dead on, I will head stateside once I finish my law degree. Where are you getting your numbers from, I notice your are using mean, I prefer median.

[circusboy90210]

@chefshitpiece your numbers are way off. 2010 home value usa 170k mean average mean income 48k if houses were barely worth 36k in mid 80's usa . canada has allways been an expensive proposition. yes home prices are one indicator of sol, however quality of life such as type & volume of food is even better indicator. everything we have today by volume two car familly multiple computer etc... is far better than anythingn our parents had and work less for it than grandad did on the farm.

[chefshitpiece]

@circusfagOU812: I know exactly what my parents were doing at this age, working good paying jobs that allowed each of them to pay for a home seperately, just like every else they worked with. You are talking about gas prices and cars when the ultimate standard of living is the home.

Just at your gas ratio:

14/3 = 4.66

1.75/.35 = 5

Big deal! NOw look at the housing ration

1972 Wage=11800/yeat Home = $27800

2008 Wage =32000/yearHome = $329000

So gas got a little cheaper, so what?

[circusboy90210]

Respond to this video...ask your parents what they were doing in your point in life right now. they were working hard , we are in the most prsoperous time ever. gas cost $3 but most people make @ least $14 \whhen gas was .35 cents most people were lucky yto make $1.75per hour. most people I know make @ lelast 20 $ per hour in regular jobs (manufacturing field) this is low ball pay . even if it were true ent make less they are free and answer to nobody. but it's not true.

[circusboy90210]

@chefshitpiece I'm in your genration , we have it way better than anyone ever before, we have plenty of leisure time & money to spend doing frivolous things like frisby golf & hackey sack. before the 50's every body worked for just living. I listen to my family when they tell me about how things were instead of the brainwashing lies the television pushes. I"m an entrepreneur and can tell you my income has not fluctuated but has actually gone up. we also have cars that go past 50 mph are safe.