>hurr user he ended the Great Depression! >:(
No his "new deal" was a gigantic mistake that turned a Recession into a Depression. FDR and his economic illiterate advisors thought the reason the depression had occurred was because of prices being to low. To "fix" this they instituted price controls and price fixing. This lead to an oversupply of goods because the price of them had been artificially inflated. To try and counter this FDR and co decided that decreasing production would help balance out the supply. This caused many people to be put out of work.
To try and fix this they started all these public works programs to hire the now unemployed. This only provided temporary employment and was never a permanent solution. FDR also helped start the democrat practice of buying votes with welfare and labor unions, thats why FDR kept winning.
newsroom.ucla.edu
>user capitalism caused the crash, not the government!
Wrong, after ww1 the fed printed money like crazy to help Britain return to a gold standard. This lead to the "boom" of the 1920's because suddenly out of seemingly nowhere everyone was making more money. Once it was realized that money was worth a lot less this caused people to panic and sell the now devalued stocks. The fed then did another horrible mistake, that was to cause deflation! The fed thought this would help reverse the damage already done but it actually helped cause more insecurity that prevented the market from normalizeing.
fee.org
Who was the worst President ever and why was it FDR?
Other urls found in this thread:
uneasymoney.com
en.m.wikipedia.org
veteranstoday.com
newoxfordreview.org
addictinginfo.org
blog.nj.com
twitter.com
Woodrow Wilson
>income tax
>federal reserve
>got involved in foreign affairs
>WWI
Dude, economic history research is a thing, and you are clueless about it and not part of it.
FDR's mistake was to reduce deficit spending too soon, which caused the double dip recession pattern.
This. OP, you're clueless. Read this for example:
uneasymoney.com
...
Oh look at this, we spent a shitload more during the depression and things didn't improve. It took a war and then the government NOT spending more after to get us out of the depression. But I guess Germans are used to just printing money to solve their problems.
It's well known that WW2 is what stopped the Great Depression.
This. Wilson was the biggest cuck this country has ever seen.
That and the US being the only country in the world that wasn't bombed to shit
Keynes was a hack
It's called counter-cyclical spending faggot, also
> things didn't improve.
Factually false, and also
>printing money to solve their problems
Literally nothing wrong
he even looks like a faggot, what a punchable face
Kek speaks. Income tax is the single largest factor for the exponential growth of the Federal government. We didn't need WWI either.
I agree, nigger
>ww1
>dude everyone buy war bonds
>ok
>1933
>dude our fed caused a huge depression
>at least the last series of ww1 war bonds are about to cash out soon
>LMAO we're going to default on those bonds t. FDR
>fuck off you commie shit you have to at least pay back the principle
>dude i made gold transactions illegal in 1933 lmao!
FDR was a fucking retard
Don't know, he happened to be right tho
Woodrow Wilson
Or
John F Kennedy
>printing money to solve their problems
>Literally nothing wrong
Can't wait until I can't buy a Swiss penny with my dollar
Sorry about the bonds, but wasn't investing supposed to be a risk?
That's why the entire western world is in soon to be crippling debt.
SNB doesnt share my personal opinion, get some CHF bonds, they're fucking safe. Interest is something about 10^-5 unfortunately
>Interest is something about 10^-5 unfortunately
That's crazy. How do they manage that?
Well, print money > devalue > debt wont be worth shit
Just kidding, but it's quite low indeed
he wasnt.
Central Banking and top down economic recovery is fucking stupid and doest work
The US recovered from the great depression by pulling 10s of millions of people out of the work force and pulling hundreds of billions of dollars out of the money supply. Thats what fixed that shit.
If Keynes was right, which he isnt, then we never should have had the 2001 recession and 2008 depression because government spending and GDP inflation should be the only things that matter to the economy but reality is that controlling inflation is the most important thing because if investors can no longer beat inflation rates or ghost asset inflation rates, then the entire economy turns to malinvestment and explodes.
Keynes is fucking stupid and should have been shot for treason.
Government bonds are guaranteed and usually have AAA rating.
Government bonds were backed by gold in 1933 and 1934 but the federal government made gold transactions ILLEGAL in 1933 and defaulted on the bonds in either late 1933 or 1934 meaning they lost their entire principle, their interest, and the tied up 20+ years of investment to lose it all overnight. The supreme court said it was unconstitutional to do so but it still happened anyway
Don't forget about those japanese internment camps. Because fuck the constitution.
The recessions you're talking about were caused by private debt, not public. I don't know what you are trying to imply
Also, sorry for the bonds thing, but I'm positive there's an explanation you are avoiding to mention
fpbp
Whoops, CHF bonds give negative yield... sorry folks!
Keynesianism policies are based on a very different world.
When government spending is ~5% of GDP and government debt is low, additional deficit spending may well have a +ve multiplier effect.
With current levels of government spending and debt, deficit spending almost certainly has a -ve multiplier effect.
ceteris really isn't paribus and old analyses are no longer valid.
Unfortunately, no one has an interest in lobbying for less spending.
The people involved were encouraged by the government to make those loans with the promise, that If the went bad the fed would bail them out. So it ended up being public debt just a roundabout way doing it.
>government spends money
>inflation increases
>Hey im not getting a good return on these investments because the federal government and federal reserve system keep pumping money in the system causing lower bond prices and higher inflation rates
Literally SRAS/AD and money supply graphs
Ah, I see
>Upon President Roosevelt’s request, Congress passed a “Joint Resolution to Assure Uniform Value to the Coins and Currencies of the United States.” This had the net effect on reneging on the government’s obligation to make payment on Liberty Bonds in gold.
This means they were repaid in dollarians and not gold, isnt it you lying faggot?
>here i'll give you this worthless paper that is currently depreciating at an unimaginable rate
im sure it all buffed out for those bond holders
Yes it also means that normal people don't end up indebted for life
Are you perhaps a rich non working (((investor)))? Then I understand why you're against this
If you can't argue against the bonds the besides saying "that's like your opinion man" then You should bow out of the argument
That's like our current government saying "oh we'll repay those bonds, just in Zimbabwe dollars lol"
They should have kept their gold in the basement, bad investment decisions happen
This. He even said he didnt know shit about foreign affairs
No, it's not
See
John Tyler
/thread
>put money in 401k
>economy detonates every 10 years from malinvestment caused by negative real interest rates from asset inflation and currency inflation
they didnt need that retirement money anyway
>buy AAA rated government bond
>oh shit they defaulted because some homeless man told the government they can spend extraordinary amounts of money and not worry about paying it back
USD depreciated 40% in 1933
im sure everyone was just fine desu
>swiss mountain jew defending global banking cartel, Keynesian economics, fiat currency, and the federal reserve system
not even surprised.
Yeah here is your payment for ur bonds bruh
btw it will be worth half as much pretty soon, OOPS!
The Jews and their Ponzi scheme
Now 70 years later everyone is learning Hitler was right
>economy detonates every 10 years
It already does, only not because of inflation. My own retirement """fund""" is already in jeopardy. Not Keynes fault I'd say
>defaulted
Not a default, only a restructuring kek
>we need inflation to help the poor who are in debt.
Then just give them welfare, holy shit. You can't justify absurd government practices that have many drawbacks by pointing out the one "positive" aspect they have.
For every poor person that is in debt, there's a multi-billion dollar corporation that is also perfectly happy to have it's debt devalued.
These corporations are also happy when they receive the printed money first -- either directly through subsidies or by borrowing it from the banks who receive it. They can then spend that cash before prices go up, unlike the poor who receive it later, after prices has increased.
For every poor person who is in debt, there is another poor person who wasn't stupid enough to charge his credit card over and over. He's getting fucked over because his bank savings are producing almost zero interest. Meanwhile, the rich who have their wealth tied up in stocks and land are perfectly happy to see their values inflate.
By and large, inflation has always benefited the rich and/or people unwilling to save.
>Dow Jones going from 19,000 to 6000 is a completely normal aspect of the business cycle goy!
Kek confirms
If you knew better you wouldnt mention Keynes, International banks and National banks in the same sentence.
The SNB is owned 51% by the cantons, for example
>It already does, only not because of inflation
>messing with the price of interest is the one exception to the economic law "price controls fuck things up".
This
user, you are conflating QE and Keynesian policies, plz research
>By and large, inflation has always benefited the rich and/or people unwilling to save.
Nonsense
how do you think governments have the ability to aggregate 20 trillion in debt from over spending
oh right national banks the same as its always been since the fucking 1600s
I didn't even mention Keynes. This applies to all forms of inflation.
>Nonsense
Maybe you should read more than just the last sentence of a post if you want to argue.
Are you suggesting that inflation control policies caused recessions?
Anyway, the inflation target was a good one when inflation was High, now it should be replaced by a employment target, or both
>Are you suggesting that inflation control policies caused recessions?
And you're saying that artificially cheap credit does _not_ cause investment into unsustainable industries?
Ya he is because he believes in central planning
So doesnt Sup Forums agree that they should all default and fuck all the (((bond holders)))?? Kek
>spending so much youre forced to default
Sounds like a (((plan)))
Not even close. Carter was our worst president.
not even close
The neo-lib economic policies introduced in the US by the Reagan administration have been so much more effective indeed.
Oh wait.
These are pretty bad but FDR imprisoned innocent Americans by the thousands, exponentially increased fed power, and attempted to be a lifelong dictator
Not at all, only that the bubbles were caused by private banks, not by those policies
You said in the same sentence that indebted poor people are happy bc inflation devalue debt AND savings are fucked by low interest. How is that sensibile?
He doesn't know neocons are communists in disguise...
>Not at all, only that the bubbles were caused by private banks, not by those policies
you are literally a jew and im not joking
>Neoliberalism is shit, therefore Keynesian policies are the best!
That's not how it works, mate.
I propose this instead
en.m.wikipedia.org
>You said in the same sentence that indebted poor people are happy bc inflation devalue debt AND savings are fucked by low interest. How is that sensibile?
You said that inflation is necessary because the poor are in debt and inflation devalues their debt. This is true, and they should be happy about this.
But that's a poor argument because, simultaneously, any poor person actually trying to save money is screwed over by inflation.
If you truly cared about the poor, you would not pursue a policy of inflation because direct welfare is better suited for that purpose. Not that I am advocating for direct welfare, I am just saying that a policy of inflation makes no sense in that regard.
Mountain jew, indeed. And the bubble WAS caused by private banks.
>Not at all, only that the bubbles were caused by private banks, not by those policies
Private entities are not allowed to commit fraud in a free economy. Fractional reserve banking is fraud not only allowed but encouraged by the government through deposit insurance and the promises of bailouts -- it is a government policy.
Even if do not believe that fractional reserve banking is fraud, you cannot deny that the government is actively supporting the banks in their endeavors. That is, they are encouraging artificially low interest rates which lead to malinvestments and eventual busts.
Yeah, it's a known fact that Hayek and Friedman were highly praised in the USSR back then.
>That's not how it works, mate.
No indeed, that's why I didn't imply such a thing.
Projecting much?
Worthy of note though is that that kind of policies are exactly what led to the GD in the first place.
Before Reagan happened, the US middle class was top notch, had the highest quality of life and was pulling upwards the whole country. You can partly thank Roosevelt for that.
After Reagan, the US GDP kept growing, but the lower and middle classes stopped seeing the colour of it, and their revenues have been stagnating ever since. They even got poorer actually, thanks to 35 years of inflation.
>any poor person actually trying to save money is screwed over by inflation
I don't think in any moment in history interest rates for savings have been lower than inflation, bar underestimated inflation or other ways to screw the little man
>Even if do not believe that fractional reserve banking is fraud
I do believe it is a fraud. All the money supply should be printed by the state in name of and for the people
I thought it was Clinton ?
>I don't think in any moment in history interest rates for savings have been lower than inflation
So getting part of your savings stolen is okay as long as they don't take all of it? Don't be retarded.
Also, on what planet do you live where a savings account in a bank yields more interest than inflation? The poor aren't investing to the same extent as the upper and middle class, user -- they have their money in cash or bank accounts. You could say that this is their own fault, but then I could just as easily say that getting into debt is their own fault and your justification for inflation -- helping poor debtors -- is worthless.
>I don't think in any moment in history interest rates for savings have been lower than inflation
LITERALLY RIGHT FUCKING NOW YOU LYING KIKE
FEDERAL FUNDS RATE IS 0% AND INFLATION IS (((OFFICIALLY))) AT 2% BUT ASSET INFLATION COULD BE ANYWHERE FROM 2-10% DEPENDING ON THE FIELD
INTEREST RATES ARE NEGATIVE YOU DUMB FUCKING KIKE
PEOPLE'S LIFE SAVINGS ARE BURNING UP TO YOUR KIKE POLICIES
>It took a war and then the government NOT spending more
A war is government spending ya dip.
>10s of millions leaving the labor force
>hundreds of billions of dollars leaving circulation
thats what fixed it
Neoconservative ideology is based in international socialism. Trotsky was the bases of most of their theories. Look it up.
veteranstoday.com
Yes that's supposed to force people and entities to spend instead of save, you know, to stimulate economy.
How is it caused by Keynesianism, or FDR fo that matter?
Here inflation is 0.1%. Medipack Land planet. Also I have 550'000 jewgolds of denbtz because that's the cost of building my own house here.
So I got no savings
>veteranstoday
Please.
Gotta go with Woodrow, set the course for all that is bad today.
I can keep this up all day
newoxfordreview.org
>newoxfordreview
Please stop.
addictinginfo.org
Keep denying reality frog
I always feel bad for Woodrow desu
He was a god-fearing man who let him self be corrupted by power
Only to be taken down by a stroke when he finally realized all the harm he had done
>Here inflation is 0.1%.
Then you aren't following a policy of inflation in order to help the poor debtors! Holy shit, user.
>You: Inflation helps the poor debtors.
>Me: No it doesn't, inflation rates outpace interest on savings thus harming the poor.
>You: No, look at my country that has no inflation.
>Carter was our worst president.
Fuck off, Reagan fanboy
>addictinginfo.org
Truman comes to mind
>let's start the fucking Cold War guiz!
blog.nj.com
Guess we found the neocon everyone
I hate him for creating the federal reserve, fucking up Poland (still have family there) and being a crippled faggot.
>After Reagan, the US GDP kept growing, but the lower and middle classes stopped seeing the colour of it,
Why do you blame Reagan for this when it started under Nixon?
>creating the federal reserve,
Millions of women joining the labor force you mean?