I've been watching what has been going on with our dwindling economy and it seems rather familiar to 1933. Below is a list of similarities between 1933 and 2009:
FDR
Stock market lost 47% of its value October 1931 - March 1932.
BHO
Stock market lost 47% of it's value since October 2008.
FDR
Largest government spending program passed within first 100 days of new President (1933)
BHO
Largest government spending program passed within first 100 days of new President (2009)
FDR
(1930) Fed cuts prime interest rate from 6% to 4%. Treasury Secretary Andrew Mellon announces that the Fed will stand by as the market works itself out: 'Liquidate labor, liquidate real estate... values will be adjusted, and enterprising people will pick up the wreck from less-competent people'.
BHO
(2008) Fed cuts prime interest rate from 1% to 1/2% . Treasury Secretary Henry Paulson "I am well aware that financial market and housing challenges continue to concern America’s families," said the Treasury chief, "Progress has not come in a straight line, and we need to remain patient as we work through these challenges."
FDR
Unemployment 24%
BHO
Unemployment 7.6% and climbing
FDR
Dust bowl in full steam, leaving no land to farm.
BHO
Our dust bowl could be that there are few family farms, as corporations fail much less land will be farmed.
FDR
Power hungry Asian country (Japan) looking to expand it's empire.
BHO
Power hungry Asian country (North Korea) looking to expand it's empire.
FDR
Crazy dictator, wanting to wipe the Jews off the map (Hitler)
BHO
Crazy dictator, wanting to wipe the Jews off the map (Ahmadinejad)
So I maybe I could be a fortune teller by just reading the newspaper from 1933 and changing the dates to 2009. If we do walk down the same path as we have in the past, it defiantly does not look like it will be a very good decade.... Massive depression, major government spending, Europe falls to crazy dictator, World war.
I often think of this quote I heard once: "Insanity is making the same mistakes and expecting different results."
Tuesday, March 3, 2009
2 comments:
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Hey Todd:
ReplyDeleteBHO
Stock market lost 47% of it's value since October 2009.
Did you mean 2008, or are you that good?
Pinning Andrew Mellon in 1930 on FDR is a bit of a stretch. That's 3 years before FDR.
You also left out a critical similarity:
FDR: Blowhard radio isolationist and anti-semite Rev. Charles Coughlin.
BHO: Blowhard radio iconoclast and conservative Rush Limbaugh.
Have a great day.
Thank you for pointing out my date error, which I corrected.
ReplyDeleteI was trying to compare the simularities of the situations more than bash Barrack. I just would like for people to see the possiblities of what could happen and try to prevent them from reoccuring or at least protect themselves the best they can for a more devistating economic collapse.
As for the last similarity you mentioned between Rev. Coughlin and Rush Limbaugh, true they are both have a large radio following and they both disagree(d) with the President. I never heard Coughlin (a wee bit before my time) and I don't like to listen to Rush, but I really believe that being a conservitive is nothing like being an anti-semite.