Rep. Feeney needs new book for perspective on Depression

I find it hard to accept Rep. Tom Feeney 's assertion that the solutions to the Great Depression were actually its causes. Full Story
JohnC of PH

Venice, FL

#1 Apr 23, 2008
In 1954 my economics prof at Rice Univ expressed his pride in the policy changes made in Washington DC to prevent a repeat of the Great Depression. He mentioned the things cited by Dylan Fay. Also ... very important .... the withholding tax, which immediately reduces the government's "take" when a downturn begins. Yeah, Tom Feeney better stay with what he is best at..... ideology.
Norbitz

Port Orange, FL

#2 Apr 23, 2008
Qoute.."As Feeney himself states, the policies and regulations in his April 17 article were enacted between 1929 and 1935 -- after the stock market crash that catapulted us into recession." End quote. I think Feeney was stating that the depression lasted longer than it ought to have due to gov't actions after the crash. The idea is that leaning towards "market freedoms" is a better economic engine than populist reliance on gov't programs and redistributions.

And JohnC...of course it is an ideology. An ideology that believes in the freedom of its citizens and businesses vs. the big brother, central planning, "always-knows-what's-bett er-for-me-than-I-do", liberalism of the federal gov't.

I want my NannyState! Vote Democrat!
Norbitz

Port Orange, FL

#3 Apr 23, 2008
Also, congratulations on being published Dylan

And to put this in current context. Why is the gov't bailing out Bear Sterns? I think we should allow them to fail, or is this the modern day "New Deal" stuff the gov't is so good at?
Dave

Orlando, FL

#4 Apr 23, 2008
JohnC of PH wrote:
In 1954 my economics prof at Rice Univ expressed his pride in the policy changes made in Washington DC to prevent a repeat of the Great Depression. He mentioned the things cited by Dylan Fay. Also ... very important .... the withholding tax, which immediately reduces the government's "take" when a downturn begins. Yeah, Tom Feeney better stay with what he is best at..... ideology.
It is funny how different we interpret the facts. In 1970 my economics professor expressed his belief that WWII brought us out the of Great Depression and that all the gov't programs while some being productive did delay the recovery.
The further away from an event the better we can look at it without so much emotion.
Swashbuckler

United States

#5 Apr 23, 2008
Norbitz wrote:
Also, congratulations on being published Dylan
And to put this in current context. Why is the gov't bailing out Bear Sterns? I think we should allow them to fail, or is this the modern day "New Deal" stuff the gov't is so good at?
If Bear Sterns failed then others would have failed as well. It would have been very ugly.

I'm not thrilled with the rescue of Bear Sterns (it really wasn't a bailout), but it probably was for the best.
Swashbuckler

United States

#6 Apr 23, 2008
Norbitz wrote:
Qoute.."As Feeney himself states, the policies and regulations in his April 17 article were enacted between 1929 and 1935 -- after the stock market crash that catapulted us into recession." End quote. I think Feeney was stating that the depression lasted longer than it ought to have due to gov't actions after the crash. The idea is that leaning towards "market freedoms" is a better economic engine than populist reliance on gov't programs and redistributions.
And JohnC...of course it is an ideology. An ideology that believes in the freedom of its citizens and businesses vs. the big brother, central planning, "always-knows-what's-bett er-for-me-than-I-do", liberalism of the federal gov't.
I want my NannyState! Vote Democrat!
We've already seen what no regulation results in - that's why there's more regulation today.

I have more trust in big government than I do big business.

“Semper Fi...”

Since: Dec 07

Glenwood, FL -the last of many

#7 Apr 23, 2008
...Dylan: Mister Feeney learned cause-and-effect from George Orwell's 1984...
...That is: Lies are truth. War is Peace. Upside Down is Inside Out. And What Happens Tomorrow will cause Whatever Happened Yesterday...

...And for you now-graduated students of Economics--
...The Great Depression did last throughout the 1930s. But FDR's alleged socialistic government programs put most of the USA back on acceptable financial footing. That was not equally so in the rest of the world...
...Germany was in deep hock, but was surving on its military/armament industry, and by its eventual $$$ gains from annexing Austria-then by invading (and looting) Czechoslovakia and Poland...
...Britain's economy was near collapse, one reason why its military was not prepared for war against Hitler--and why it so desperately needed immediate finacial (supplies) assistance from the United States...
...It's a long and convoluted story. But without FDR's early initiatives, WW2 might have turned out disastrously the other way...
Dylan Fay

Lakeland, FL

#10 Apr 23, 2008
Thank you for the congratulations, and to clarify:
I am not suggesting that we need New Deal-type programs today, I am only disputing Tom Feeney's fanciful version of history.

In response to Norbitz, I agree that Feeney was probably trying to say that government programs prolonged the depression, but I still find it hard to agree that a stock market fall from 381.17 to 198.6 is a "temporary correction." Government programs did not cause that catastrophe, and so cannot really be blamed for the Depression. While some programs failed or were unproductive, many were vital regulations (SEC) or stimulants to the economy (CCC).
doug

United States

#11 Apr 25, 2008
Dylan Fay wrote:
Thank you for the congratulations, and to clarify:
I am not suggesting that we need New Deal-type programs today, I am only disputing Tom Feeney's fanciful version of history.
In response to Norbitz, I agree that Feeney was probably trying to say that government programs prolonged the depression, but I still find it hard to agree that a stock market fall from 381.17 to 198.6 is a "temporary correction." Government programs did not cause that catastrophe, and so cannot really be blamed for the Depression. While some programs failed or were unproductive, many were vital regulations (SEC) or stimulants to the economy (CCC).
Good article Dylan when you turn 18 remeber to vote out Feeney he is wrong on virtually everything and this country needs better than that to get out of the mess the neocons have made.

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