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Economic Recovery 101 for RATpubliCONs

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FreakinDJ Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-27-10 02:17 PM
Original message
Economic Recovery 101 for RATpubliCONs
Some where some one has to dispel the RATpubliCON myth it was "Tariffs" that brought on the Great Depression. In fact as Milton Friedman points out it was the lack of liquidity in the consumer market brought on by the run on banks and the subsequent bank failures.

So there "Fat Man" (Rush Limpballs) you don't know Jack

As a result of examining more closely the key years between 1929 and 1933, Friedman and Schwartz first concluded that the Great Depression was not the necessary and direct result of the stock-market crash of October 1929, which they attribute to a speculative investment bubble. (The popping of the “bubble” may have been instigated by the Federal Reserve’s raising of the discount rate—the interest rate the Fed charges on loans to commercial banks—in August 1929. The cause of the speculative bubble that led to the crash is a somewhat controversial topic. Whereas Friedman and Schwartz accepted that the bubble was caused by investors, seemingly endorsing—at least partly—the Keynesian “animal spirits” explanation, Austrian economists have argued otherwise.) In fact, they believed that the economy could have recovered rather rapidly if only the Fed—the central bank of the United States —had not engaged in a series of disastrous policies in the aftermath of the crash.

http://www.thefreemanonline.org/featured/the-great-depression-according-to-milton-friedman/


No country not even the mighty US of A can survive the these types of Trade Imbalances year after year. You wonder where our economic recovery went to - well I wouldn't hold my breath waiting for it to be imported from China.



So you ask about the $1 TRILLION Dollars US Corps are currently holding on to that they need to invest?

I'll guarantee you they are not concerned about the new Health Care Reform laws, that only affect individuals
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Cosmocat Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-27-10 02:25 PM
Response to Original message
1. They LONG have created history with that one ...
On tariffs ...

They get to say whatever disingenious crape that comes to their minds, and the MSM accepts it as fact ...

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