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

This is true. Unemployment went from roughly 3% 25% by 1933 and
manufacturing output dropped by 1/3. These are facts. Economists can cite
reasons pro or con for the New Deal, but this is not difficult to do 70
years later. You basically cherry pick to make your points, pro or con, and
then write them up. But they usually never include things like the Great
Drought which added to the Depression, or the benefit of Emergency Banking
Act that had the banks reopening in 3 days so people stopped the runs on
banks and avoided much rioting.

Besides, hindsight is always 20/20. None of the economists who are writing
these articles actually lived through those times, except Greenspan who was
3 years old in 1929. Greenspan is probably a much better saxophone player
(he played with Stan Getz) that he is an economist. He once said his best
decision was to leave the music business. I would tend to disagree. But
again, hindsight is 20/20.

On Wed, Jun 17, 2009 at 11:27 AM, Gene Johnson <genej2ster@xxxxxxxxx> wrote:

> 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 It repealed the Glass-Steagall Act).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=2009021106>
> 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>
> 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¬
>
>


-- 
Peter K
Ó¿Õ¬

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