Vegas

[abreu]

Thank you so much for the suggestion. "Free to Choose" is outstanding so far.

I just finished Chapter 3: "The Anatomy of Crisis", in which Friedman investigates how the depression was not the fault of the free market, but the government. I wish my US teacher would had suggested this during the year, because it completely changed my POV about the entire era.

[Vegas]

Thank you so much for the suggestion. "Free to Choose" is outstanding so far.

I just finished Chapter 3: "The Anatomy of Crisis", in which Friedman investigates how the depression was not the fault of the free market, but the government. I wish my US teacher would had suggested this during the year, because it completely changed my POV about the entire era.

No problem. I'm glad you're enjoying the book. It's one of the best books I've ever read and I've read a lot.

[Jiddy78]

Thank you so much for the suggestion. "Free to Choose" is outstanding so far.

I just finished Chapter 3: "The Anatomy of Crisis", in which Friedman investigates how the depression was not the fault of the free market, but the government. I wish my US teacher would had suggested this during the year, because it completely changed my POV about the entire era.

In 100 years the books will read "Not quite free" and chapter 3 will be about how private bankers tried to control the market and realized that they couldn't, but in doing so f*cked it up royally....

...But hey, that's better than politicians...

[KinjaKahn]

Thank you so much for the suggestion. "Free to Choose" is outstanding so far.

I just finished Chapter 3: "The Anatomy of Crisis", in which Friedman investigates how the depression was not the fault of the free market, but the government. I wish my US teacher would had suggested this during the year, because it completely changed my POV about the entire era.

It was the fault of the Federal Reserve and the Federal Reserve is not part of the Government it is a private bank where the owners have the financial power to push or squelch any policy or idea.

[Vegas]

In 100 years the books will read "Not quite free" and chapter 3 will be about how private bankers tried to control the market and realized that they couldn't, but in doing so f*cked it up royally....

...But hey, that's better than politicians...

The rules of the free market will apply just as much in 100 years as they ever have. It's a matter of whether we elect leaders that will let the free market work.

[Jiddy78]

The rules of the free market will apply just as much in 100 years as they ever have. It's a matter of whether we elect leaders that will let the free market work.

Did I say the contrary in the statement you quoted? If so, I think either you misunderstood or I'm slipping in my communication skills.

[Jiddy78]

It was the fault of the Federal Reserve and the Federal Reserve is not part of the Government it is a private bank where the owners have the financial power to push or squelch any policy or idea.

Just like today.

[Vegas]

Did I say the contrary in the statement you quoted? If so, I think either you misunderstood or I'm slipping in my communication skills.

I wasn't disagreeing. I was just trying to emphasize your point.

[pnkpanther]

Thank you so much for the suggestion. "Free to Choose" is outstanding so far.

I just finished Chapter 3: "The Anatomy of Crisis", in which Friedman investigates how the depression was not the fault of the free market, but the government. I wish my US teacher would had suggested this during the year, because it completely changed my POV about the entire era.

i've read some of Friedmans work. Prior to Great Depression American Politic's were dominated by Republicans save short stretch of woodrow wilson and much of ground work was laid by Mckinley.

There were many factors of great depression, that i have my doubts are easly summed up in one chapter.

Black Tuesday as I've nicknamed it, :rolleyes: was a symptom, not the cause. People were buying stocks that had no value for companies that didnt do anything (think .com) they falsfied income (think world com and Enron) and nothing was stopping them from doing so. Factor in a draught, post war depression that is a natrual process, and unregulated stock market and banking system.

Then as the economy started to sink, you had Hoover and an incompetent congress and conservative economist that felt the need to "ride it out". Of course the recession was global, save one country (Russia, which oddly enough probably achieved it's greatest economic success in any era during 20's) Being Russia was communist and not in a recession, this new thought started too look good (although 20's was far loser then communist russia we grew to know during stalin and post stalin..there were free markets at work during the 20's in Russia), people were rioting, unemployment was high, country was literally on it's knee's. Hoover insisted we do nothing.

FDR came in, many didnt like him, many conservatives go out to lambaste him for not anticpating a baby boom throwing off SS plan set up...but he put people to work, he got young men out of the city, and had them making trails (there are still those trails today) he'd have people digging a ditch, another group fill same ditch..he got people working and money flowing.

in 1933 I believe it was, FDR caved to conservatives and cut Government spending, GDP took a huge hit, nearly 3 times (there is nifty formula where you can see al this, drawing a complete blank on the name) the cuts FDR made, you can see the dip in any chart, FDR's point was made. Only in WW2 when spending was acceptable did we fully pull out of the depression.

I'm a bit off track (what else is new) but yeah.

[pnkpanther]

Just a little tip, most subjects if you're truly interested in, you have to go beyond what you learn at school..


From revoloutionary war-present day.


(did you know Paul Revere was actually jailed during the famous mid-night ride)

[Vegas]

(did you know Paul Revere was actually jailed during the famous mid-night ride)

Pretty much spoils the poem, doesn't it?

[pnkpanther]

Pretty much spoils the poem, doesn't it?

somehow the poem turned into history...it's not acurate