I didn't realize FDR caused The Great Depression.

[Elwood P Dowd]

"The Great Depression didn’t START until FDR (and Hoover to a lesser degree) started screwing with the economy. Before that it was just a stock Market crash."

http://www.freerepublic.com/focus/f-news/2560553/posts

Back to reality………

1929

• Annual per-capita income is $750. More than half of all Americans are living below a minimum subsistence level.

• Recession begins in August, two months before the stock market crash. During this two month period, production will decline at an annual rate of 20 percent, wholesale prices at 7.5 percent,
and personal income at 5 percent.

• Stock market crash begins October 24. Investors call October 29 Black Tuesday. Losses for the month will total $16 billion, an astronomical sum in those days.

1930

• The GNP falls 9.4 percent from the year before. The unemployment rate climbs from 3.2 to 8.7 percent.

1931

• No major legislation is passed addressing the Depression.

• The GNP falls another 8.5 percent; unemployment rises to 15.9 percent.

1932

• This and the next year are the worst years of the Great Depression. For 1932, GNP falls a record 13.4 percent; unemployment rises to 23.6 percent.

• Industrial stocks have lost 80 percent of their value since 1930.

• 10,000 banks have failed since 1929, or 40 percent of the 1929 total.

• GNP has also fallen 31 percent since 1929.

• Over 13 million Americans have lost their jobs since 1929.

• Top tax rate is raised from 25 to 63 percent.

• Popular opinion considers Hoover's measures too little too late. Franklin Roosevelt easily defeats Hoover in the fall election. Democrats win control of Congress.

[pepperbear]

1. "Does this clown REALLY think that you can borrow and spend your way into wealth?"

If you can borrow and spend your way into a war, why not?

[roguevalley]

17. my dad's family made about 300$ a year during this time and

my mom's family less. They only survived because they were farmers on both sides.

[jobycom]

2. It takes a lot of lies to remain a Republican. Thanks for putting together the facts. nt

[texastoast]

3. K&R n/t

[old mark]

4. Actually, the deepening depression helped cause the stock market crash...

Many people who should have been nowhere near the market were able to invest with borrowed money - which they lost when prices went down and were not able to pay back.

FDR was not even elected till well after it all started, but hey, there's facts and there's republican facts...they think he deliberately provoked WWII, as well, and that he set up the attack on Pearl Harbor to get the war against the Japanese started...


mark

[Elwood P Dowd]

5. Here is a photo essay of The Great Republican Depression.

http://www.english.illinois.edu/maps/depression/photoessay.htm

[Bozita]

11. Thanks!

[damntexdem]

6. Oh yes! Few people know about his time machine.

And certainly don't know how after he was elected prez, he went back in time four years and caused the Depression.

;-)

[villager]

7. "Top tax rate is raised..."

I wonder if we'll see that happen again...

[KamaAina]

8. Hence, all those "Rooseveltville" shantytowns that kept popping up everywhere

oh, wait a minute...

[arbusto_baboso]

9. I still encounter people who think WWII pulled us out of the Depression and FDR's

big projects had nothing to do with it.

I point out the actual history to them and they still deny it.

[white_wolf]

16. While I'm sure WWII helped

get us out that hardly seems to be an argument against spending. WWII was Keynesian Economics on steroids. Spend as much as you can till you can't spend anymore. Of course FDR's polices did help a lot I just posted this to counter the common and strange conservative argument that WWII somehow proves government spending is not needed to get out of a depression. As if you don't spend money in wars. Of course our latest two have not helped but these police actions are an entirely different animal.

[Stevepol]

20. The % gain in employment after FDR policies kicked in was the 2nd highest in US history

except for a brief hiccup around '37 when FDR was convinced by Repubs to try to reduce the deficit.

Of course the greatest period of employment increase was WWII when the whole labor pool was put to work in the armed services.

But even w/o WWII the policies in place were moving the economy steadily toward full employment.

[laughingliberal]

10. Oh, Fox started rewriting the history of the Depression...

and spewing about how the New Deal really made it worse as soon as the crash occurred. Can't have the citizens clamoring for restoring the systems that protected us for decades and allowed an unprecedented expansion of the middle class, now can we?

The oligarchs wouldn't like that.

[Hekate]

12. Well of course. Same way Obama caused 100% of our current mess, & is the same as Hoover....

... sorry, I mean Bush.
:shrug: and :sarcasm:

Hekate

[bvar22]

13. You don't have to go to Free Republic to get that.

You can find it right here on DU from the FDR haters.

[tsuki]

14. The Stoopid is strong in that thread. Thank God, I had the letters from

my grandfather, and the oral history of my aunts. I would have never known about the Great Depression with them.

[tanyev]

15. Yes, indeed. Just check a new Texas history texbook.

[lpbk2713]

18. They said Jimmy Carter was the cause of Dumbya's economic collapse too.

BWAHAHAHA ... those clowns are a hoot. :rofl:

[Morning Dew]

19. How can this be?

I was under the impression that the freepers hold Clinton responsible for everything from the cricifixion up to the present time.