Hoover and the "Great" depression of 1929 (re-hash)

Interesting.  I found this buried in the bottom of another article I wrote.  I managed to discuss two different issues, and this got LOST.

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Summary:  Hoover's actions and lack of BALLS during the first depression caused our county to SUFFER Even MORE then we needed to.  Today's Republican (read TEAPARTY) wants to take us back to the glory days of 1929 to 1932 ONCE MORE, despite the dangers we faced there.
 
I Just can't believe the ABSOLUTE intense similarities between the period AFTER the Great (First) Stock Market Crash of 1929, and TODAY.... INCLUDING Hoover's response to the depression.  Right out of the "TEA-Bagger's Party" I refuse to call them the Tea-Party... (Calling them that insults our American Patriots of 200 years ago!)

The circumstances of 1929 included:                                      TODAY we have:

• One in four workers was jobless.                               *  TODAY one in NINE* workers jobless.
• One in five Americans survived on meager relief
  payments.                                                                    * Unknown today
• The stock market was down 75 percent from 1929.     * Stock market is ready to crash again
• Exports were at their lowest level since 1904.               * Needs research!
• In just four years, the suicide rate had tripled.                * Unknown Today

* Official statistics say 9.5% unemployment (equals about 10.57 per 100 out of work), a realistic number including those (like me) who are UNDER-employed or unable to find FULL TIME work would be 11% unemployment, which gives ONE IN NINE (11%) unemployment.
For certain sectors, like unemployed black youth, current unemployment is around 30%!  or WORSE then the FIRST depression!

Hoover's reaction to the "Depression" (which was not called the great DEPRESSION then, of course, but MAYBE called "A RECESSION!)  FDR's presidential Library (see HERE) says

"As the nation suffered, its government seemed paralyzed. President Hoover had tried to combat the Depression, but he believed in limited government and relief through private charity.

 Though he eventually approved credit assistance for businesses and some public construction spending, Hoover was reluctant to fund massive public works projects, provide federal relief money to the unemployed, or increase government regulation of the economy. By 1933, he was reviled and exhausted.

 Let's do an "INSTANT replay" on that again!


President Hoover tried to combat the Depression, but he believed in limited government and relief through private charity.

Though he eventually approved credit assistance for businesses and some public construction spending, Hoover was reluctant to fund massive public works projects, provide federal relief money to the unemployed, or increase government regulation of the economy.

Gee.... Sounds like today's REPUBLICAN Campaign Platform ALL over again.  Especially for those like MICHELLE Bachman and the OTHER TEA-Baggers out there.

And guess what will happen.

We may actually be STUPID enough to VOTE them in again, and have ANOTHER 4 years of MASS damage to our economy.

Economy: It's Jobs, NOT the deficit (Depression 2.0 and HOOVER)

Are we that stupid? It's NOT the deficit, but the JOBs, growth, and the fact that LARGE banks (and multi-national corporations) are HOARDING their money, and NOT spending/lending their money.

I am amazed that NOT ONE single media outlet (I am an NPR-Head) has started to question whether this is a "double-dip" recession, or really a sign that we are in DEPRESSION 2.0.

Think about it.  In the "great depression", Herbert Hoover started to react to the 1929 stock crash by CUTTING the federal DEFICIT.

It took FDR (in 1932) almost 4 years, and some say till World War II, to fully get out of DEPRESSION 1.0.

I am sick.   This is absurd.   We need to EMULATE what FDR did to get us out of the first depression.

I am also tired of "pissin' into the wind", and getting wet...  Doesn't ANYONE else out there agree with the take that our economy is more important then getting rid of the deficits?

I can't believe that yesterday, the Iowa Republican Debate actually continued to bash the president.

If The Federal Reserve tells us that the country in going to be in the toilet at least until 2013, then we should realize that we need to make SOME changes.


WE NEED the upper 1% of this country to pay TAXES.   Not the 'nominal tax rate'.
We need a NEW "Minimum Millionaires Tax"

Make over 1million dollars GROSS (both businesses and individuals)?

You will pay a MINIMUM tax of 1% of your gross as a new MINIMUM  tax  Period.

NOT of your NET, but your GROSS income (and this would include income and dividends, so NO LOOPHOLES...)

That's a start to fix this.

PS: Look HERE: http://sos-newdeal.blogspot.com/2009/04/proposal-milionaire-problem-easy.html
for more on the tax and look HERE:
for more info on my top 10 list to FIX the economy and our society! (hence the name of my blog: sos-newdeal.blogspot.com)
:
http://sos-newdeal.blogspot.com/2009/02/top-ten-list-what-i-believe-and-want.html

Oh, and the real start to get us out of this is the massive jobs project I say, expanding the Eisenhower thruway system... (see the top ten list...)

AND my answer for next week's MARKETPLACE contest...

I've predicted since 2006, that this is the SECOND Depression (and in a mock tribute to the tech economy, I labeled it DEPRESSION 2.0).

ps: this was written during the friday 8-12-11 'on the road' marketplace show...

Shame-Out:: (Third Time) It's the ECONOMY, (you) stupid congressmen...

Shame-Out:: (Third Time) IT's the Republicans (and the tea-party idiots) STUPID.

 OK.  Listening to MarketPlace on NPR,  I heard two economists discussing the June 2011 Unemployment drop (only 18,000 jobs created in June).

I said this, I will say this again.

It's not a single dip or Double dip RECESSION.  It's a ##^#&^#@$*&#@$^& DEPRESSION (2.0).

Get the facts.

• Companies that are sitting on billions in ca$h will NOT hire new workers, as the existing ones are being over-worked.
• Companies will NOT invest in new workers, making the problems worse.
• Republicans claim that cutting the deficit is key to getting the economy fixed.  NOT!
• In fact, the only reason we do not have an OFFICIAL unemployment rate of 16% TODAY  is because we DON'T count the people who are under-employed or gave up on looking.  Otherwise it would be much higher today, and perhaps at about 23% today.
• The $$$ that the federal government gave to local states and cities has ran out because the stimulus was limited.  Therefore, states and cities have cut over a QUARTER of a MILLION jobs in the past two years.

Republicans refuse to consider tax increases.  It now is time for them to realize that the 'trickle-down' economy concept has failed.  We have two Americas (one highly educated, and motivated, and one of  'burger-flippers', employing a huge percentage of our country) and we also have two Financial Americas.  Corporations, and "Multi-millionaires", versus 'the rest of us'.

We need to address this huge imbalance.  For republicans to ignore this imbalance, and still claim, "TRICKLE-DOWN", is simply like a huge "Trick on the down and out!".

It's time for the congress to get off of it's REAR, and actually do a stimulus LARGER then the last time.


HINT:  see my discussion on green job building and Eisenhower Highway Expansion.

Spending trillions of dollars on a NEW transportation system (not re-using existing rail lines) is green:

To reiterate:

• Use existing Eisenhower highway system and establish 4 new rail tracks on every highway.
• 2 Tracks would be for freight/trucks/motor vehicles.
• 2 tracks would be used for mass transit.

Benefits:

1. Federal jobs creation program.  Construction will take 15-25 years [it took that long to finish some parts of the Eisenhower system]  giving lifetimes of employment to current and future workers.
2. Green program.  Project objectives are 
• Reduce # of trucks/diesel/buses (and especially gas and emissions) on road.
• Program would seek to get both trucks or just trailers (and cars -SUV's too) from origination point to destination as fast and as fuel efficiently as possible, increasing productivity, and reducing emissions, fuel consumption and driver time behind the wheel.
3. Technology Driven:  Program objectives would be cost reduction via technology, reducing fuels, and needs for drivers going cross country.  
• Cargo should be able to go on a trailer, or with a truck.
• Rail system would use existing right of ways of highways.
• Totally separate from existing freight lines, but would interconnect.
• Existing Railroads would not be running these systems.
• Technology would allow national 'ez-pass' type electronic billing system for interoperability with all systems.
• Commuter rail portion of system would also be technology driven.

In summary again, we are NOT in a recession, but a full blown DEPRESSION 2.0.

In order to get out of this, we need to drastically increase spending, and have a PROGRAM and way out to:

• Rebuild our economy
• Rebuild the  MANUFACTURING and construction sector.
• Re-Train our workforce (from a service 'burger-flipping' mentality) to meaningful middle-class jobs.
• Create the "Green Economy", that everyone claims they want.
• Reduce fuel emissions DRASTICALLY
• Reduce gas and Diesel usage
• Make transportation a Technology driven , growth industry.
• Stop the political bickering, and allow our government to work together to solve our problems.