Greatest US President
06-18-2012
, 03:49 AM
07-09-2012
, 11:52 AM
I recently did quite a bit of work on Roosevelt and Hoover in regards to their attempts at mitigating the effects of the depression.
Here's a very brief summary of some of Roosevelts key acts from First and Second New Deal. Thought someone might be interested.
Again, this is obviously just a very short summary.
Here's a very brief summary of some of Roosevelts key acts from First and Second New Deal. Thought someone might be interested.
Again, this is obviously just a very short summary.
07-13-2012
, 03:58 AM
First of all, thx, very interested. Come post in politics some time.
Soooooooo .... they artificially lowered loan interest rates for housing back in 1934, and it was a flop. Aaaaaaand we're now in a ****hole of an economic mess because they tried the same ****ing thing. Nice. Nice.
"Prices cannot be raised without real economic recovery."
This is false. Inflation raises prices, and is actually detrimental to the economy, especially in high amounts.
07-13-2012
, 04:27 AM
Quote:
Emergency Banking Relief Act - "American capitalism had been saved in 8 days."
lol what???
Quote:
The Emergency Banking Act (the official title of which was the Emergency Banking Relief Act) was an act of the United States Congress spearheaded by President Franklin D. Roosevelt during the Great Depression. It was passed on March 9, 1933. This act allows only Federal Reserve-approved banks to operate in the United States of America.
Disallowing any Joe Schmoe the right to start a banking business is not saving American capitalism. That is a prohibition of American capitalism.
Quote:
The provisions of the act were as follows:
Title I
Section 2. To give the President the ability to declare a national emergency and have absolute control over the national finances and foreign exchange of the United States in the event of such an emergency.
Title I
Section 2. To give the President the ability to declare a national emergency and have absolute control over the national finances and foreign exchange of the United States in the event of such an emergency.
Dictatorship. Nice.
Quote:
Section 3. To authorize the Secretary of the Treasury to order any individual or organization in the United States to deliver any gold that they possess or have custody of to the Treasury in return for "any other form of coin or currency coined or issued under the laws of the United States".
Government theft of citizens gold. Nice.
Quote:
Section 4. To make it illegal for a bank to do business during a national emergency (per section 2) without the approval of the President.
Quote:
Title II
To enable the Comptroller of the Currency (a post in the US Treasury) to take complete control of and operate any bank in the United States or its territories and to establish the terms and conditions under which bank is administered.
To enable the Comptroller of the Currency (a post in the US Treasury) to take complete control of and operate any bank in the United States or its territories and to establish the terms and conditions under which bank is administered.
Quote:
Title IV
Section 401. To allow Federal Reserve banks to convert any US debt obligation (such as a bond) into cash at par value and any check, draft, banker acceptance, etc, into cash at 90% of its apparent value.
Section 402. To allow the Federal Reserve banks to make unsecured loans to any member bank at an interest rate of 1% over the prevailing discount rate.
Section 403. To allow Federal Reserve banks to make loans to anyone for up to 90 days if the loan is secured by a general obligation of the United States (such as a Treasury bond, for example).
Section 401. To allow Federal Reserve banks to convert any US debt obligation (such as a bond) into cash at par value and any check, draft, banker acceptance, etc, into cash at 90% of its apparent value.
Section 402. To allow the Federal Reserve banks to make unsecured loans to any member bank at an interest rate of 1% over the prevailing discount rate.
Section 403. To allow Federal Reserve banks to make loans to anyone for up to 90 days if the loan is secured by a general obligation of the United States (such as a Treasury bond, for example).
The Federal Reserve prints money to pay off debt. This debases the currency and causes inflation and rising prices.
Quote:
Title V
Section 501. Appropriation of $2,000,000 to the President for carrying out this legislation. Section 502. (a severability clause)
Section 501. Appropriation of $2,000,000 to the President for carrying out this legislation. Section 502. (a severability clause)
Nice! Two million dollars from the tax payers to the president! Nice salary!!!
You say this piece of legislation saved American capitalism in 8 days? I look at this and I see a two million dollar richer fascist dictator debasing the currency and stifling American capitalism.
You're very wrong in your conclusions here.
07-17-2012
, 04:54 PM
09-11-2012
, 08:09 AM
And some of his decisions lead to future problems (Glass/Steagal, expanding Freddie and Fannie etc.).But aside that Clinton was very good economically and paid attention to issues of growth. But he fell into one of the sweetest sweet spots any president ever did.
09-23-2012
, 06:58 AM
Quote:
Clinton was pretty much of a luckbox. He took over just when the economy was starting to turn. Then the internet bubble took off full speed giving a huge revenue boon to the governement and a congress that forced him to balance things at a time when they could. Of course it all blew up at the end of his term And some of his decisions lead to future problems (Glass/Steagal, expanding Freddie and Fannie etc.).
But aside that Clinton was very good economically and paid attention to issues of growth. But he fell into one of the sweetest sweet spots any president ever did.
And some of his decisions lead to future problems (Glass/Steagal, expanding Freddie and Fannie etc.).But aside that Clinton was very good economically and paid attention to issues of growth. But he fell into one of the sweetest sweet spots any president ever did.
09-25-2012
, 02:47 PM
