rawstory.com— So it begins! Our old pal Mahmoud says OPEC is seeking to ditch the dollar, given the US dollar's recent mimicking of Canada's.
Nov 18, 2007View in Crawl 4
we'll sell us to you for the right price. No doubt the are thousands of Canadians in the US as we speak buying cheap assets. Glad to have you. That's how the system works.
Quickly recovered??!!! Man, you are reading different history books than me. Prior to the Great Depression there were 4 other "Depressions" or "panics" as they were called.1807-1814 - caused by trade embargo due to the war.1837-1844 - caused by a requirement by President Jackson to accept only specie (gold & silver) for government land sales. This reduced the value of the money, shrunk the money supply, causing deflation(!) and caused a run on the banks and depression.1873-1879 - Post Civil War panic. Triggered by collapse of a banking house, which caused the whole banking system to collapse and people to "panic" and try to get all their money out.1893-1898 - Cause similar to what happens in 1929 and still much debated. Great Depression: 1929-1941In all of these cases except one, the Great Depression, had a centralized banking system existed, the effects could have been staved off, especially in deflationary times. The Great Depression's issues went deeper than the banking system and required fundamental infrastructure changes and regulations and a world war to solve. In fact the opposite of what you say is true. We haven't had a major depression like the above since WWII, over 60 years, which is unheard of. It's because of the fine tuning of monetary policy by the Fed that this is the case. In fact, we did NOT quickly recover from the problems mentioned above. The recessions we have had since WWII have been nowhere near as calamitous as the above and have lasted on average no more than 3 years.FDR's social programs did not, indeed, stop the depression, you are correct. But his infrastructure changes (which were actually Hoover ideas that FDR managed to get passed) made the banking system much more sound and trusted.WW2 was indeed a disaster for the destruction it caused and the deaths of our brave soldiers. Your reasoning, though, is flawed. The war ended the depression because of the massive need for jobs. In fact we had only a ~2% unemployment rate, which has never been and will never be repeated. The work force had not been killed off. The male work force went to war and the women took over the work. Also rationing prevented people from spending all the money they were making, so that caused huge pent up demand that took 20 years to expend.As for this comment: "also the US was able to take control of the resources of other nations it had conquered in the war" that's just asinine. What resources from which country? Germany, France, Russia, Eastern Europe, Italy, Japan, Indo-China, Malaysia, etc were all in ruins. Their infrastructures were gone. Who was it that rebuilt those infrastructures, sir? Whose money was it?? It was the Marshall Plan, and you'd better be glad we did it, or all of Europe would be vodka drinking communists now, and WWIII would probably just now be finishing. Go back to school.
getoffmybridgeNov 19, 2007
That's the scent of intelligence, you'll get used to it. You'll have to.
5jimbobNov 20, 2007
we'll sell us to you for the right price. No doubt the are thousands of Canadians in the US as we speak buying cheap assets. Glad to have you. That's how the system works.
lebaigeNov 21, 2007
People like you make me want to vote for Hillary Clinton.
ereineiDec 2, 2007
Quickly recovered??!!! Man, you are reading different history books than me. Prior to the Great Depression there were 4 other "Depressions" or "panics" as they were called.1807-1814 - caused by trade embargo due to the war.1837-1844 - caused by a requirement by President Jackson to accept only specie (gold & silver) for government land sales. This reduced the value of the money, shrunk the money supply, causing deflation(!) and caused a run on the banks and depression.1873-1879 - Post Civil War panic. Triggered by collapse of a banking house, which caused the whole banking system to collapse and people to "panic" and try to get all their money out.1893-1898 - Cause similar to what happens in 1929 and still much debated. Great Depression: 1929-1941In all of these cases except one, the Great Depression, had a centralized banking system existed, the effects could have been staved off, especially in deflationary times. The Great Depression's issues went deeper than the banking system and required fundamental infrastructure changes and regulations and a world war to solve. In fact the opposite of what you say is true. We haven't had a major depression like the above since WWII, over 60 years, which is unheard of. It's because of the fine tuning of monetary policy by the Fed that this is the case. In fact, we did NOT quickly recover from the problems mentioned above. The recessions we have had since WWII have been nowhere near as calamitous as the above and have lasted on average no more than 3 years.FDR's social programs did not, indeed, stop the depression, you are correct. But his infrastructure changes (which were actually Hoover ideas that FDR managed to get passed) made the banking system much more sound and trusted.WW2 was indeed a disaster for the destruction it caused and the deaths of our brave soldiers. Your reasoning, though, is flawed. The war ended the depression because of the massive need for jobs. In fact we had only a ~2% unemployment rate, which has never been and will never be repeated. The work force had not been killed off. The male work force went to war and the women took over the work. Also rationing prevented people from spending all the money they were making, so that caused huge pent up demand that took 20 years to expend.As for this comment: "also the US was able to take control of the resources of other nations it had conquered in the war" that's just asinine. What resources from which country? Germany, France, Russia, Eastern Europe, Italy, Japan, Indo-China, Malaysia, etc were all in ruins. Their infrastructures were gone. Who was it that rebuilt those infrastructures, sir? Whose money was it?? It was the Marshall Plan, and you'd better be glad we did it, or all of Europe would be vodka drinking communists now, and WWIII would probably just now be finishing. Go back to school.
Closed AccountJan 26, 2008
<a class="user" href="http://kfed.angelfire.com/preservation/">http://kfed.angelfire.com/preservation/</a> This is how you protect yourself from the falling dollar, & other threats to your finances in the USA. Honestly, it is the smartest thing to do. Vote with your money, get it out of the USA.