Interesting Peter. I too have read that a lot of economists think FDR's programs did work, and that they would have worked a lot better if they had been applied immediately. After 29 the economy went into freefall for almost 3 years before FDR took office.
Sent from my iPhone On Jun 17, 2009, at 9:12 AM, "Peter K." <peterk727@xxxxxxxxx> wrote:
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 It repealed the Glass-Steagall Act).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=2009021106People 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 KOn 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! JerryGovernment 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 --- Rollei List - Post to rollei_list@xxxxxxxxxxxxx- Subscribe at rollei_list-request@xxxxxxxxxxxxx with 'subscribe' in the subject field OR by logging into www.freelists.org- Unsubscribe at rollei_list-request@xxxxxxxxxxxxx with 'unsubscribe' in the subject field OR by logging into www.freelists.org- Online, searchable archives are available at //www.freelists.org/archives/rollei_list -- Peter K Ó¿Õ¬
