|
|
Post by capttankona on Apr 28, 2009 16:45:53 GMT -5
Check the thread on FDR and the Great Depression where I schooled you and drove you out of this forum, prompting a regrouping and name change on your part. And, by the way. It was the disprespectful use of a thread by your useful idiot who supports socialism via her ignorance that drove me from this place. But, I digress. You couldn't drive me out in a car, much less with your lack of informed responses. |
|
|
|
Post by saunterelle on Apr 28, 2009 16:48:35 GMT -5
I have already posted Friedman's quote for you in the other thread. Even Bernanke, a greater Great Depression economics scholar than Friedman, agrees with me 100%. Maybe you should re-educate yourself on the Great Depression: " In the 1930s, Franklin Delano Roosevelt saved American capitalism from its own self-inflicted wounds by erecting a new financial infrastructure—often over the vociferous opposition of the bankers and investors whose poor judgment had helped precipitate the Great Depression. During the New Deal, the government reacted to a disastrous systemic failure by creating the sort of backstops, insurance, and risk-spreading mechanisms the market had failed to develop on its own, such as deposit insurance, federal securities registration, and federally sponsored entities that would insure mortgages." www.slate.com/id/2187039/ |
|
|
|
Post by joe on Apr 28, 2009 17:52:21 GMT -5
Face it, your policies failed and, like FDR did during the great depression, Obama is going to have to pull us up by our bootstraps. By following the same policies? Well except for the as* kissing tour. Your a fool to believe this as*clown will "Change" anything for the better. And you DO have the right to converse freely, unless of course your dialing known terrorist numbers... And again BO voted FOR the Patriot Act.......and isn't gonna change it......cry again? |
|
|
|
Post by capttankona on Apr 28, 2009 18:09:13 GMT -5
I have already posted Friedman's quote for you in the other thread. Even Bernanke, a greater Great Depression economics scholar than Friedman, agrees with me 100%. Maybe you should re-educate yourself on the Great Depression: " In the 1930s, Franklin Delano Roosevelt saved American capitalism from its own self-inflicted wounds by erecting a new financial infrastructure—often over the vociferous opposition of the bankers and investors whose poor judgment had helped precipitate the Great Depression. During the New Deal, the government reacted to a disastrous systemic failure by creating the sort of backstops, insurance, and risk-spreading mechanisms the market had failed to develop on its own, such as deposit insurance, federal securities registration, and federally sponsored entities that would insure mortgages." www.slate.com/id/2187039/ Ha, read Milton Friedmans own words. He supported only the FDIC, which accomplished all of the above by insuring deposits and banks. As I said, this idea was introduced when FDR was four years old and happened to come to fruition in his administration, without his support. I even gave you the name of the very legislation that accomplished it. You must be dizzy with all the spinning you have been doing today. To bad you don't have anything of substance to back up what you say, but I do. But, you still have not answered my question about why over 900 Banks failed in the United States while there were zero failures in Canada, a country hit by the same problems during the depression as the United States. You can't answer that, can you. |
|
|
|
Post by capttankona on Apr 28, 2009 18:10:41 GMT -5
I will give you the answer, if you ask nicely.
|
|
|
|
Post by capttankona on Apr 28, 2009 18:13:31 GMT -5
I have already posted Friedman's quote for you in the other thread. Even Bernanke, a greater Great Depression economics scholar than Friedman, agrees with me 100%. Maybe you should re-educate yourself on the Great Depression: " In the 1930s, Franklin Delano Roosevelt saved American capitalism from its own self-inflicted wounds by erecting a new financial infrastructure—often over the vociferous opposition of the bankers and investors whose poor judgment had helped precipitate the Great Depression. During the New Deal, the government reacted to a disastrous systemic failure by creating the sort of backstops, insurance, and risk-spreading mechanisms the market had failed to develop on its own, such as deposit insurance, federal securities registration, and federally sponsored entities that would insure mortgages." www.slate.com/id/2187039/ Maybe you should not put up links to political sites that are intended to steer public opinion, rather then reporting accurate history. Glass-Steangal was passed in 1933, without any support or resistance from the FDR administration, period. It took 47 years and over 150 bills to get this legislation passed, with major resistance from the banking industry along the way. As was noted by economist Eugene White of Rutgers University. Care to respond to that? |
|
|
|
Post by capttankona on Apr 28, 2009 18:40:50 GMT -5
I am favor of cutting taxes under any circumstances and for any excuse, for any reason, whenever it's possible.
Milton Friedman
The Great Depression, like most other periods of severe unemployment, was produced by government mismanagement rather than by any inherent instability of the private economy.
Milton Friedman
This particular quote shows his distaste of the very thing FDR desired, strong centralized government.
The greatest advances of civilization, whether in architecture or painting, in science and literature, in industry or agriculture, have never come from centralized government.
Milton Friedman
This quote shows exactly what he thinks of the type of government Obama is creating.
We have a system that increasingly taxes work and subsidizes nonwork.
Milton Friedman
As does this quote
Underlying most arguments against the free market is a lack of belief in freedom itself.
Milton Friedman
I can only conclude that you don't know anything about Milton Friedman, Mr. Walter Duranty, aka saunterelle.
|
|
|
|
Post by saunterelle on Apr 28, 2009 18:50:50 GMT -5
Like the book you are getting your info from isn't biased??
Okay, this is like your insane assertion that because it had been Clinton's "policy" to oust Saddam, the failure of the Iraq war doesn't lie with Bush. It does, and the success of Glass-Steangal lies with FDR. Your weasily attempt to say it was passed "without any support or resistance from the FDR administration" is laughable at best. That is simply the biased author's opinion. FDR still gets the credit.
|
|
|
|
Post by capttankona on Apr 28, 2009 18:56:07 GMT -5
Well saunterelle, I mean Walter Duranty, I have a post to refute your claims that Milton Friedman thought the New Deal or FDR and his policies were good for the country. And it is a direct quote form Milton Friedman himself, from an interview with John Hawkins:
John Hawkins: Switching gears again here, in your opinion, what caused us to pull out of the Great Depression? Was it Roosevelt's policies, WW2...
Milton Friedman: Roosevelt's policies were very destructive. Roosevelt's policies made the depression longer and worse than it otherwise would have been. What pulled us out of the depression was the natural resilience of the economy + WW2.
You know, it's a mystery as to why people think Roosevelt's policies pulled us out of the Depression. The problem was that you had unemployed machines and unemployed people. How do you get them together by forming industrial cartels and keeping prices and wages up? That's what Roosevelt's policies in the New Deal amounted to. Essentially, increasing the role of government, enhancing the monopolistic position of labor, and creating as I said before the equivalent of price fixing cartels made things worse. So most of his policies were counterproductive.
You have been shown to be a liar, once again. But know one here expected any less.
|
|
|
|
Post by capttankona on Apr 28, 2009 18:57:32 GMT -5
Like the book you are getting your info from isn't biased?? Okay, this is like your insane assertion that because it had been Clinton's "policy" to oust Saddam, the failure of the Iraq war doesn't lie with Bush. It does, and the success of Glass-Steangal lies with FDR. Your weasily attempt to say it was passed "without any support or resistance from the FDR administration" is laughable at best. That is simply the biased author's opinion. FDR still gets the credit. Pffft, why, because you, a proven liar says so? Puhhhhleeeaazzzz. |
|
|
|
Post by capttankona on Apr 28, 2009 19:00:45 GMT -5
Like the book you are getting your info from isn't biased?? Eugene White, Rutgers University, Deposit Insurance. A very biased source, oh yeah.... |
|
|
|
Post by capttankona on Apr 28, 2009 19:02:08 GMT -5
I think the discussion of FDR is over. I have proven, with the words of Milton Friedman himself, that you do not know what you are even discussing. If you wish to be pwned some more, keep going. I can find all kinds of information from non-biased sources to prove you wrong time and again.
|
|
