[rollei_list] Re: OT: Zeiss Agencies and French optics being nationalized

Marc,

While I may agree there was no immediate benefit, I do not believe it
prolonged the Great Depression. This is a very general statement and
something usually postulated by the extreme right, most of who buy into
party lines like this.

There is no panacea that will immediately correct the stupidity of Acts such
as the Gramm-Leach-Bliley Act that led to this mess (and yes I believe this
was one that screwed things up. It repealed the Glass-Steagall Act). Things
take time. One good thing that came out of FDR's work was the FDIC. And yes
I am sure there are economists like the two from UCLA that agree with you,
but these same economists were the ones who ignored the bubble of 1999-2000.
I include that idiot Greenspan in the group of dunces.

Here is an article from Fortune magazine that leans more to what you are
saying but also tried to stay somewhat to the middle ground:

http://money.cnn.com/2009/02/10/news/economy/yang_newdeal.fortune/index.htm?postversion=2009021106

People that claim it does no good are those who are employed or have an
income. People who want it to succeed are those who are unemployed. Much
like medical insurance. Those with it do not want socialized medicine, those
who are without insurance and need medical attention want it now.

Peter K


On Sat, Jun 14, 2008 at 7:46 PM, Marc James Small <marcsmall@xxxxxxxxxxx>wrote:

> On 6/16/2009 8:21 PM, Jerry Lehrer wrote:
>
>> Manny,
>>
>> Of course you are right!  Let all the car manufacturers and their
>> suppliers and employees go belly up.  The banks
>> and insurers too.  We need another depression as we had post 1929.  Or as
>> Germany had after WW1.
>>
>> That will bring the strong to power! :-)
>>
>> Yes you are right-- Right OOYFM!
>>
>>  Jerry
>
> Government stimulus packages have been tried across the World for the past
> 4,000 years.  Not one of them has ever worked.  All have failed and have
> failed miserably.  None of FDR's hinky-dinky programs worked to alleviate
> the Great Depression:  the WWII boom did that, just by way of one example.
>
> Marc
>
>
>
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-- 
Peter K
Ó¿Õ¬

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