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View Full Version : Where are the Jobs? The Parallels between Today and the Great Depression



Chris
07-25-2012, 01:14 PM
Today many Americans credit FDR with rescuing our nation from the Great Depression, but there's plenty wrong with that view, says Lee Ohanian, a UCLA economics professor who specializes in economic crisis. "What's wrong with that view is that private-sector job growth did not come back under Roosevelt," says Ohanian, who notes that Americans often forget how long the Great Depression lasted. Unemployment stood at 17 percent in 1939, a decade after the infamous stock market crash, and, although times were much worse back then, Ohanian sees troubling parallels between the Great Depression and the Great Recession. In both instances our nation emerged from a severe downturn with strong productivity growth and the banking system largely restored. "So the key puzzle for both today and the 1930s is why aren't private-sector jobs being created at a much more rapid rate?"

Where are the Jobs? The Parallels between Today and the Great Depression (http://reason.com/blog/2012/07/22/where-are-the-jobs-the-parallels-between)


http://www.youtube.com/watch?feature=player_embedded&v=qm5ZbjkGV3Y#!

Toward the end Obama speculates how much worse it could have been. One must ask upon what basis is that assertion made? Where's the counterfactual?

Cigar
07-25-2012, 01:54 PM
http://i18.photobucket.com/albums/b137/chasc5/never-have-boners-republicans-losers-buttheads-motivational-political-poster-1263144637.jpg

http://i18.photobucket.com/albums/b137/chasc5/wu120613.gif

Chris
07-25-2012, 02:42 PM
Government doesn't create jobs, politicians like Obama and/or Romney who says so, are full of nonsense.

Trinnity
07-25-2012, 02:54 PM
The problem is govt throwing up obstacles to job creation through excessive regulation.

Duh~ :facepalm:

roadmaster
07-26-2012, 11:43 PM
Government doesn't create jobs, politicians like Obama and/or Romney who says so, are full of nonsense.

No they just allow them to go overseas on our dime.

Conley
07-26-2012, 11:49 PM
No they just allow them to go overseas on our dime.

You're both right...government doesn't create jobs but they sure as heck can drive them away. Living in CA I see it every day.

RollingWave
07-27-2012, 02:30 AM
right, because today we have unemployment over 20% ? despite the fact that in 1930s Urbanized population was lower (aka more people were self employed on farms) or that there were less foreigners working in the US... the comparison is starting to lose it's merit fast. during that period the unemployement rate was over 20% more often than it was under 15%.

I guess the greatest comparable would be that the events give instinctive impluse on the right to try and go all protectionism. though at least so far there hasn't been a Smoot-Hawley ... yet... or the left's impulse to go new deal.. but again none of the stuff is anywhere close, the really different thing this time around was really TARP, which has for the most part, at least kept the banking system alive (you'd remember that for most of the 1930s to 1940s average americans' DIDN'T keep their money in banks. ) and the money was largely repaid.

Quite frankly, I don't know if the new deal "worked" or not, but it was quite clear the Smoot-Hawely and European responses to them put WW2 on an almost certain inevitable path and did abosalutely nothing to help the US economy recover. unless your going to argue that their intention was to get to WW2 so that all the rest of the world's production would be crushed and the US would "shed" it's excessive work force..

Trinnity
07-27-2012, 08:07 AM
You're both right...government doesn't create jobs but they sure as heck can drive them away. Living in CA I see it every day.Yep. Obamacare put employers on hiring lockdown. Ironic, but his job killing policies in general and ACA in particular, will be his political demise. Idiot~ :slap2:

Did he really think he could shove his Marxist crap on us? :tard:

Bye bye, barky. :hello:

Chris
07-27-2012, 09:17 AM
No they just allow them to go overseas on our dime.

They, the government, drives them overseas with overtaxation and overreguation. It's not our dime.

gophangover
07-27-2012, 09:20 AM
They, the government, drives them overseas with overtaxation and overreguation. It's not our dime.
You're just to chicken shi t to pay off your own debts that you created with the stupid wars you start.

Chris
07-27-2012, 09:21 AM
right, because today we have unemployment over 20% ? despite the fact that in 1930s Urbanized population was lower (aka more people were self employed on farms) or that there were less foreigners working in the US... the comparison is starting to lose it's merit fast. during that period the unemployement rate was over 20% more often than it was under 15%.

I guess the greatest comparable would be that the events give instinctive impluse on the right to try and go all protectionism. though at least so far there hasn't been a Smoot-Hawley ... yet... or the left's impulse to go new deal.. but again none of the stuff is anywhere close, the really different thing this time around was really TARP, which has for the most part, at least kept the banking system alive (you'd remember that for most of the 1930s to 1940s average americans' DIDN'T keep their money in banks. ) and the money was largely repaid.

Quite frankly, I don't know if the new deal "worked" or not, but it was quite clear the Smoot-Hawely and European responses to them put WW2 on an almost certain inevitable path and did abosalutely nothing to help the US economy recover. unless your going to argue that their intention was to get to WW2 so that all the rest of the world's production would be crushed and the US would "shed" it's excessive work force..


I guess the greatest comparable would be that the events give instinctive impluse on the right to try and go all protectionism. though at least so far there hasn't been a Smoot-Hawley ... yet... or the left's impulse to go new deal..

Lawmakers should stop acting on instinct and start acting rationally--if that is possible. Protectionism and welfare only hurt us.

Chris
07-27-2012, 09:22 AM
You're just to chicken shi t to pay off your own debts that you created with the stupid wars you start.

How about we not incur the debt to begin with.

Trinnity
07-27-2012, 09:59 AM
Chris, did you start a war? Commere...I want to put you over my knee and spank you.

Chris
07-27-2012, 10:14 AM
That a promise? :evil:

Peter1469
07-27-2012, 04:08 PM
You're just to chicken shi t to pay off your own debts that you created with the stupid wars you start.

10 years of war in Iraq and Afghanistan cost a bit less than last year's deficit spending....

roadmaster
07-27-2012, 04:18 PM
You're just to chicken shi t to pay off your own debts that you created with the stupid wars you start.

Obama has not brought our troops home yet! Money doesn't replace the lives we have lost in these civil wars. We should have been in and out. Our debt? Obama has created more in money than all these civil wars.