View Full Version : Lessons from The Great Depression

11-12-2010, 09:16 PM
:ninja: So nobody told me, when the banks collapsed during the 1929 problem, it was because the Federal Government of The United States of America refused to get involved. The depression that followed was because a Mr Hoover, whilst worried about it, did nothing, believing that free trade was to regulate itself free of any accountability even to the Government.

The Same President who brought the United States out of Isolation I believe, A democrat, was the person who set up a great many ways in which the Banks at least had to account for their investment policies (this is when they spend money that is not theres...but ours...and when they risk losing it...and thus spending our money)

Apparently, During the 1970s and 1980s, the United States began to shift back towards a totally free trade economy which was not answerable to anything. Credit, credit, credit.

Now in 1929, America, was still a trade capital of the World even if she didnt really want to interact to much outside of her own soverignty. Her Banks collapsing, had a profound effect on those countries who had not yet recovered from the First World War.

Now...The way this works, is that it takes just a few individuals to pull out, to cause everyone to think pulling out is a safer option...and now, as then, the banks could not work with every single person deciding to close their accounts all at once. They STILL cant.

I think that whilst President Bush, a Republican none the less, saw the sense in bailing out the banks, to stop what his party predecessors in the same situation let happen...I would like to know why the Democratic Administration has not done anything, like their party predecessors in calling these bankers to account. There were Republicans on this forum who honnestly believed that the Government should once again let the banks do their thing, fall apart, and plunge the American Economy AND the rest of the world, into another depression. It will NEVER cease to amaze me, how come its alright to morally object to a bank bail out, claiming that one makes their own bed and should sleep in it...and yet NO word on the morallity of the Bankers greed and unaccountability that gave them their beds in the first place! I'd LOVE for one of those people to explain that one to me. People might pick on George Bush for supposedly being stupid, and hate him for his foreign policy...but at least he had the sence to take the sting out of another depression as his last great act before leaving office.

In England, every time the Government tries, the banks have a come back. The Government for example applied a tax to abhorant levels of Bonus...and what do the banks do...they pay Bigger bonuses, so after Tax, the original abhorance still remains.

Here is another pattern in History. The reaction to hardships saw a rise in the Far Right and Revolutionary calls. Leading eventually to war.

Tea Party anyone? English Defence League? Trade Unions??

So what have we learned. Nothing. :unsure: So...in 50 odd years time...we can expect the same thing to happen. Some part of America with FAR to much "freedom" will, due to being poorly regulated...mess around with money that doesnt belong to them...and blow it again. The Question will be...now that we are best of two...which Party will be responsible for saving the world, or for distroying it this time

Democrats 1 (1930s) Republicans 1 (2008)

place your bets here :laugh: (but to do that there is an administration fee, which I plan to invest in slugs...dont worry, you'll get twice your money back...so give me twice the administration fee...and you'll be loaded very shortly :ninja::laugh::laugh::laugh:)

I crack myself up sometimes.

11-13-2010, 06:37 AM
Dave... Hush...

11-13-2010, 04:03 PM
Dave... Hush...