1934 Cartoon

[BBB725]

You might appreciate this cartoon from the Chicago Tribune, 1934.

The government actions following the 1929 Crash made the economy worse, not better. The result
was a down cycle that probably would have worked out in 3 - 4 years, but became a 10 year depression due to government intervention.

 

[BBB725]

The more things change, the more they stay the same! Those who fail to
heed the lessons of history are doomed to repeat them. A review of the
economic history of the 1930's demonstrates that Roosevelt's spending
programs failed to turn the economy around. Unemployment temporarily
dropped and then rose again in the late thirties to more than 15%. It took
World-War II to reverse that trend.

 

[MOBILEMERCMAN]

Lets hope there is not a similar story this time.

 

[glassdave]

In 1930, the Republican-controlled House of Representatives, in an effort to alleviate the effects of the... Anyone? Anyone?... the Great Depression, passed the... Anyone? Anyone? The tariff bill? The Hawley-Smoot Tariff Act? Which, anyone? Raised or lowered?... raised tariffs, in an effort to collect more revenue for the federal government. Did it work? Anyone? Anyone know the effects? It did not work, and the United States sank deeper into the Great Depression. Today we have a similar debate over this. Anyone know what this is? Class? Anyone? Anyone? Anyone seen this before? The Laffer Curve. Anyone know what this says? It says that at this point on the revenue curve, you will get exactly the same amount of revenue as at this point. This is very controversial. Does anyone know what Vice President Bush called this in 1980? Anyone? Something-d-o-o economics. "Voodoo" economics.

 

[Bobcat]

dave your scaring me:ack2:

 

[Cash Bar]

In 1930, the Republican-controlled House of Representatives, in an effort to alleviate the effects of the... Anyone? Anyone?... the Great Depression, passed the... Anyone? Anyone? The tariff bill? The Hawley-Smoot Tariff Act? Which, anyone? Raised or lowered?... raised tariffs, in an effort to collect more revenue for the federal government. Did it work? Anyone? Anyone know the effects? It did not work, and the United States sank deeper into the Great Depression. Today we have a similar debate over this. Anyone know what this is? Class? Anyone? Anyone? Anyone seen this before? The Laffer Curve. Anyone know what this says? It says that at this point on the revenue curve, you will get exactly the same amount of revenue as at this point. This is very controversial. Does anyone know what Vice President Bush called this in 1980? Anyone? Something-d-o-o economics. "Voodoo" economics.

I even read that in Ben Steins voice...:rofl:

One of the great class scenes in a movie, ever!!