FDR and his policies prolonged the Great Depression by 7 years

Excellent analysis, Truth-Bringer.

When it comes to taxes and trade protectionism, Hoover was more like a Democrat than most Democrats!

FDR continued a lot of Hoover's policies, kept wages too high and prolonged the depression by 7 years.

 

My bad then.

 

LOL. I still see Iriemon is lying his little tail off about all of this again. I kicked his butt before, which isn't too difficult since all he does is lie.

This is a good example of lying with statistics. Even if true, even if there were slight increases, none of it raised the country out of depression-level statistics for that time period. The economy was still doing terribly overall. Iriemon's argument is a total deception.

From wikipedia:

"Various countries around the world started to recover from the Great Depression at different times. In most countries of the world recovery from the Great Depression began in 1933.[1] In the United States recovery began in the spring of 1933.[1] However, the U.S. did not return to 1929 GNP for over a decade and still had an unemployment rate of about 15% in 1940, albeit down from the high of 25% in 1933.

There is no consensus among economists regarding the motive force for the U.S. economic expansion that continued through most of the Roosevelt years (and the sharp contraction of the 1937 recession that interrupted it). According to Christina Romer, the money supply growth caused by huge international gold inflows was a crucial source of the recovery of the United States economy, and that the economy showed little sign of self-correction. The gold inflows were partly due to devaluation of the U.S. dollar and partly due to deterioration of the political situation in Europe.[36] In their book, A Monetary History of the United States, Milton Friedman and Anna J. Schwartz also attributed the recovery to monetary factors, and contended that it was much slowed by poor management of money by the Federal Reserve System. Current Chairman of the Federal Reserve Ben Bernanke agrees that monetary factors played important role both in the worldwide economic decline and eventual recovery.[37] Bernanke, also sees a strong role for institutional factors, particularly the rebuilding and restructuring of the financial system,[38] and points out that the Depression needs to be examined in international perspective.[39] Economists Harold L. Cole and Lee E. Ohanian, believe that the economy should have returned to normal after four years of depression except for continued depressing influences, and point the finger to the lack of downward flexibility in prices and wages, encouraged by Roosevelt Administration policies such as the National Industrial Recovery Act.[40] Some economists have called attention to the expectations of reflation and rising nominal interest rates that Roosevelt's words and actions portended.[41][42]"

Also, Hoover had all the same styles of intervention. He increased income taxes on "the rich" from 25% to 63%. He increased government spending and imposed more regulations. All of this did nothing to deter the depression. They only hurt consumer spending and delayed the recovery.

 

Hoover's spending increases were modest and his tax increase, necessitated by huge deficits, didn't take effect until 1993.

The 26% tax rate sure did not stave off the Great depression and the 62% rate after the tax increase did not prevent the robust growth after 1933.

A lesson we should learn today.

 

Right. He not only continued them, he intensified them. The top income tax rate topped out at 94% under FDR and Truman. But again, including deductions, etc - no one was paying a full 94% of their income in taxes in this country. But what kills the liberal argument is that there was no significant increase in tax revenue from the top bracket during that time - and the same patterns occurred during WW1 when it was raised into the 70's.

It's just more socialist nonsense and class warfare - they "never let a good crisis go to waste" in order to try and steal more from everyone.

 

Only excellent if you think excellence is presenting false facts.

In 1932, with international trade in collapse, Franklin Roosevelt denounced Smoot-Hawley as ruinous.

Read more: http://www.time.com/time/magazine/ar...#ixzz1OWyjoYvZ

Weird praise.

The tariffs were dismantled over time after the Democrats took control of the government.

 

Tax rates went from 26% to 94% and there was "no significant increase in tax revenue from the top bracket during that time"

I'd have to see the data supporting that to believe it.

 

In the meantime, I found a way to make your posts look sensible.

Did anyone ever find out if Iriemon is shilling for Media Matters?

 

Beats having to deal with facts, eh?

 

You are funny!

Where do you get this stuff?

The highest unemployment rates (15-23%) occurred during the four terms of FDR.

By the way, the economic recovery did not occur in 1932.

In fact, the economy did not recover until after1940.

 

Again, Truth-Bringer, you are absolutely correct.

Please check this out.

 

the unemployment rate didn't just drop during FDR's THREE terms (that's 12 years btw) it PLUMMETED until it was significantly lower than the rate that carried over from the Hoover days where the unemployment rate SKYROCKETED.

 

He actually cut taxes more than once. And he cut the top bracket twice down to 28%. Try to tell the truth.

LOL. Total nonsense. I see you're still trying to defraud everyone in this forum. Not much has changed since I left.

LOL. Reagan's tax rates were far lower than Carter's, and the economy was doing far worse under Carter. That's why when Mondale advocated returning to the same policies, he was destroyed in a 49 state landslide victory.

People knew they were better off with lower taxes. Unfortunately, they still had not figured out that the Federal Reserve was the root evil in the country. But it's coming...

 

It did not end in 1933. It ended in 1941. It took a war to get unemployment back up to "full". After the war, unemployment and inflation were rampant.

 

Unemployment didn't recover until 1941. Took a war. Unless you believe that jobless recoveries amount to real economic recovery.

 

I think that's a delusional trait common in all Obama supporters. The messiah requires faith!

 

It took years to recover from the GD.

But the turnaround started in 1933 and the economy overall grew robustly after that. Unemployment fell from its peak of 25% to 15% in just a few years until ticking up again in the 1937 recession.

 

In 1933, the economy turn around, and started growing again.

It took years to fully recover from the damage.

 

Unemployment rose steadily and peaked at 24.7% in 1933, FDR's first year in office.

1923-29 3.3

1930 8.9

1931 15.9

1932 23.6

1933 24.9

1934 21.7

1935 20.1

1936 17.0

1937 14.3

1938 19.0

1939 17.2

1940 14.6

1941 9.9

1942 4.7

http://www.bls.gov/opub/cwc/cm20030124ar03p1.htm

 

Wrong!

By the way, I see your graph is not sourced, nor is the Y-axis correctly identified.

Your chart is very misleading in that it only represents the valley in my chart where the unemployment rate drops below15% and then abruptly rises again.

FDR was president from 1933 until 1945. Notice the U.S. unemployment rate did not radically decline until 1940-1941 when many working Americans were drafted into the armed forces. Of course this event would make the unemployment numbers decidedly fall! This reduction has nothing to do with FDRs economic policies!

Here is the correct data over a more representative time period.
^

 

What is the source data for your chart?

Most source, like the Bureau of Labor Statistics I cited in my previous post, show unemployment hitting 25%.

 

you are indeed correct, Dr. Righteous.

FDR was president from 1933 until 1945. Notice the U.S. unemployment rate did not radically decline until 1940-1941 when many working Americans were drafted into the armed forces.

Of course this event would make the unemployment numbers decidedly fall! This reduction has nothing to do with FDRs economic policies!

The liberals were obviously not smart enought to actually figure this out!

Sad ... very sad.

 

your points are well made. additionally not only were many of the men drafted into the armed forces, and therefore "gainfully employed", but many of the women went to the factories and found employment in the absence of the men. during the 1940-1946 period, this nation's industrial plant was running at full throttle and it had little to nothing to do with FDR's Keynesian policies during the period 1933-1939.
but, I must give FDR credit, when this nation was in peril he was a patriot. FDR by his own admission became "Dr Win the War" and by backing his alphabet soup agencies away from the economy, the economy tooled itself and produced itself into winning the war. FDR could have been like Obama, a drone slave to a failed ideology, but he wasn't, patriotism was far too deeply instilled into his bones. Obama as a youth didn't go to the same schools, did he?

 

And the right knows so little...
Minority groups, and women were taking over the jobs. While men went into service, women and minorities took over.

 

I agree.

FDR was the best person at the time to help win the war against the Nazis and Imperialist Japan.

His biggest mistake, however, was at Yalta during February of 1945. He was very ill during his meeting with Joseph Stalin and he gave over half of Europe to the Soviets to occupy after the allies defeated the Germans in May of 1945.

In return, Roosevelt asked for Soviet support in the U.S. Pacific War against Japan, specifically in invading Japan. We did not have to do this and we should not have done this.