|
Stock market trading volume is not the best measure of overall economic health. It measures the health of the investing class. Everybody else just gets the scraps from there table these day. However, it is one that the Bushvicks often point to. And it is not good.
The theory about the great depression I still hold to is that the massive disparity in wealth was what caused everything to go to hell. The investment class was in a speculating frenzy and ultimately someone figured out that there was no more money to made investing as the middle class no longer had any money to buy things with. When there is no money to be made by investing, the people who actually HAD money instead of paper withdrew it and sat on it.
Roosevelt's Herculean effort to get the US OUT of the Great Depression was his willingness to pry money out of the hands of the wealthy and put it into public works. It was a long slow process but ultimately successful and ultimately preparing the US for the struggles it would face in WWII.
The great Republican ruse is that the War itself ended the depression. By there logic though, the economy should improve anytime there is warfare. It's the old tired broken window argument.
Republicans have St. Ronnie. Democrats have abandoned it's great hero ... ROOSEVELT! Republicans launch viscious attacks against the New Deal and all we get is DLC mush-mouthery.
|
Printer-friendly format
Email this thread to a friend
Bookmark this thread
(1000+ posts)
Send PM |
Profile |
Ignore
