Results 1 to 4 of 4
Thread: How to End the Subprime Crisis
Thread Information
Users Browsing this Thread
There are currently 1 users browsing this thread. (0 members and 1 guests)
-
03-11-2008, 03:34 AM #1
How to End the Subprime Crisis
How to End the Subprime Crisis
by Paul Craig Roberts
Global Research, March 10, 2008
Information Clearing House - 2008-03-08
Reforms often do more harm than good. This is currently the case with the “mark-to-marketâ€
-
03-11-2008, 04:03 AM #2
Re: How to End the Subprime Crisis
Originally Posted by carolinamtnwoman
Real smart!!! Seems the lessons learned from the Great Depression were over-shadowed by greed......again!!! I just hope it doesn't take WWIII to put us back on track!!!
The Great Depression began in October 1929, when the stock market in the United States dropped rapidly. Thousands of investors lost large sums of money and many were wiped out, lost everything. The 'crash' led us into the Great Depression. The ensuing period ranked as the longest and worst period of high unemployment and low business activity in modern times. Banks, stores, and factories were closed and left millions of Americans jobless, homeless, and penniless. Many people came to depend on the government or charity to provide them with food.
The Depression became a worldwide business slump of the 1930's that affected almost all nations. It led to a sharp decrease in world trade as each country tried to protect their own industries and products by raising tariffs on imported goods. Some nations changed their leader and their type of government. In Germany, poor economic conditions led to the rise to power of the dictator Adolf Hitler. The Japanese invaded China, developing industries and mines in Manchuria. Japan claimed this economic growth would relieve the depression. This militarism of the Germans and Japanese eventually led to World War II (1939-1945).
In the United States, President Herbert Hoover held office when the Great Depression began. The economy continued to slump almost every month. Franklin D. Roosevelt was elected President in 1932. Roosevelt's 'new deal' reforms gave the government more power (hence, the Glass-Steagall Act in 1933) and helped ease the depression. The Great Depression ended as nations increased their production of war materials at the start of World War II. This increased production provided jobs and put large amounts of money back into circulation.
-
03-11-2008, 05:31 AM #3
The crash of '29 was brought on by the 'federal' reserve, as admitted by Bernneke. This is documented in serval videos.
Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
-
03-11-2008, 01:05 PM #4
Yes, and the Glass-Steagall Act was enacted to prevent it from happening again, but its repeal is what has allowed the current crisis to take place. If the Federal Reserve does not react appropriately, it may cause the next crash as well.
EXCLUSIVE: Republicans Rip Biden Admin For Providing...
05-03-2024, 02:37 PM in illegal immigration News Stories & Reports