Henry Morgenthau, Jr.was the U.S. Secretary of the Treasury during the administration of Franklin D. Roosevelt
"We have tried spending money. We are spending more than we have ever spent before and it does not work. And I have just one interest, and if I am wrong … somebody else can have my job. I want to see this country prosperous. I want to see people get a job. I want to see people get enough to eat. We have never made good on our promises. … I say after eight years of this Administration we have just as much unemployment as when we started. … And an enormous debt to boot."
To reduce the deficit he argued for increased taxes, particularly on the wealthy.
"We have never begun to tax the people in this country the way they should be..... I don't pay what I should. People in my class don't. People who have it should pay."
Does this sound extremely familiar to you? Does to me. This was the fiscal policy of FDR trying to get America out of the depression. It failed then and Obama could learn from history for it is not working now either.
Nice try,how did we get into this depression and how did we get out of the last one. We have three wars so that isn't going to work.The banks,wall St and deregulation got us into this one too. If you don't want to pay taxes grab a rifle then.
Barrack Obama just told us a year ago the recession is over.
He was right, we have slipped into a depression.
Why don't you vote for more Democrats, they are clearly the answer.
Neither party is the answer,you have to choose the lesser of two evils (morons) with money.
One party is certainly not the answer, especially one led by a political hack who is working his way up to political footnote.
Millions has no work, houses are being foreclosed.. We are still under recession..
"This is not seniors' debt, this is not unions' debt, this is not children's debt. This is debt incurred by rich people."
"The working class LIVES sacrifice every damn day. #f*ckyouwashington for even implying that shared sacrifice means we have to give more."
lucorico Luciano- Is that you or just someones opinion you copied. on twister
Geee-I put it in quotes...what do you think?
Booms and Busts of this measure only come from the artificially lowered interest rates set by the Federal Reserve.
The rates were set before the Great Depression, and every collapse since (and most of the ones before).
The interest rates today are near 0% and have been there for over 2, going on 3 years.
Get ready for an even bigger collapse in the next couple of years.
You are correct! These rates allow Banksters to borrow all the money they want at zero percent, then use it to buy treasuries at 4.25% and laugh at how stupid we are while we try to figure out how to pay the interest while the money supply is contracting.
During the last Great Depression, the Banksters took all the money, ran off to Switzerland and surrounded that country with heavily armed military dictatorships.
Kind of wonder what they will do this time. Probably the same thing, history repeats.
Jerusalem! They're making a big stink about it..
Or Dubai, where apparently Cheney has bought up a lot.
Or Paraguay, where Bush's are buying.
United Arab Emirates--No extradition.
I don't know about paraguay.
But hey--I keep forgetting...they did nothing wrong!
"Alleged Bush ranch in Paraguay
In October 2006, newspapers in Paraguay, the Cuban news service Prensa Latina and others circulated allegations falsely claiming, variously, that:
Former President George H.W. Bush owns 70,000 hectares (173,000 acres) in the Chaco region of Paraguay, or
Current President George W. Bush owns 40,000 hectares (98,842 acres) in the same region, or
Timothy Towell, former U.S. ambassador to Paraguay from 1988 to 1991, administers the 70,000 hectare ranch on behalf of former President Bush.
These supposed land acquisitions were often claimed to be associated with alleged U.S. designs on the Guarani aquifer or the Mariscal Estigarribia air base.
There is no truth to any of these allegations:
The White House has stated that the rumors about President Bush are not true.
The office of former President George H.W. Bush has confirmed that the allegations about former President Bush are not true.
Ambassador Towell has confirmed that he does not administer any land in Paraguay on behalf of either former President George H.W. Bush or current President George W. Bush.
Publicly available information, statements by both Paraguayan and U.S. government officials, and other readily available evidence clearly show that allegations that the United States plans to establish a military base in Paraguay are false. There is no such U.S. plan or intention.
Unfortunately, factually inaccurate information about Paraguayan-U.S. military exercises, combined with unsupported conspiracy theories, have been embellished and repeated in various media and Internet outlets since June 2005. These false claims have also been cited by persons and groups opposed to Paraguayan-U.S. military cooperation and U.S. engagement in South America."
Created: 11 Jan 2006 Updated: 27 Oct 2006
This one is hilarious. Where do people get these phony stories from? Well it mentions in the article Bush would be living there by 2009, its 2011 and he still lives in Dallas, goes out in public very often, he is not in hiding, goes to many Rangers games, involved in his new library being built. SO I guess there needs to be a new phony story about where Bush may buy property and hide.
Asteroid Will Kill Everybody … Except the Bushes, In Paraguay
by Ken Layne
1:13 pm February 20, 2007
No Comments 772 Views
While everybody was enjoying the nice three-day weekend, the Main Stream Media announced that we’re all going to be blown up or drowned by a terrible asteroid named Apophis — that’s also the Greek name for the demon monster god of Ancient Egypt who devours all that is good and hides in the eternal evil darkness and commands an army of demons who plague mankind. (If you’re confused, just remember that Cheney is an earth monster and Apophis is a space monster.)
But there’s a chance of survival if you’re in the right place … say, shielded from the massive tsunami by the wall of the Andes and perched atop the world’s largest fresh-water aquifer. You know, where the Bushes and Rev. Sun Myung Moon bought all that land in Paraguay! Read the latest chapter in the Weirdest Story Ever Told, after the jump.
The alleged Day of Destruction isn’t until April 13, 2036 (or maybe 2029), which means there are about 500 other apocalypses expected before then. And the actual threat of Apophis hitting the Earth (or Moon) has been regularly downgraded since the first big scare in 2004, which either proves it’s definitely going to hit us pretty soon or there’s another one about to hit us, because suddenly the scientists are talking about it again.
We weren’t really concerned, because the White House is about to start a nuclear war in the Middle East and if that doesn’t kill us there’s going to be a Northern Hemisphere ice age starting in 2012, but a Wonkette Operative offered a theory so bizarre that it’s probably true: The Bushes are buying up all that land in Paraguay because the asteroid is going to hit the Pacific Ocean and the giant tsunami is going to drown everybody who’s not protected by the Andes.
Here it is:
I hate to say it, but, Apophis isn’t a rumor, a tall tale, a lie, imaginary, nor, I’m afraid, going to miss the Earth. When it hits in the northern Pacific Ocean it will cause a tsunami three miles high, give or take 1500 feet, more than two thousand miles long, from front of the wave to the front of the next wave. Where’s my proof you may ask. Well connect the dots. Who (which government agencies) has access to the real numbers? Duh? NASA? Who in the United States would have access at the highest level to that information, and have the authority, and power to ORDER that misinformation be publicized to reduce the fears of the general public? Hmmm? Who? Who would have the audacity to use it for their personal use as to not scare the general public? Hmmm? Gee, isn’t this getting easy? Who just bought a 100,000 acre ranch in Paraguay, behind the protection of the 18,000 foot Andes Mountain chain? Yes folks, you got it. Mr. George “I am the Decider” Bush. The guy who has decided to move his family to Paraguay by 2029 or earlier to protect them, while most of the rest of the world better learn to tread water. Bush isn’t buying this ranch to escape prosecution. He’s buying it to be protected and to protect HIS family. NASA and the CIA have figured out the safest place on the planet will be right where his ranch will be.
I am looking at a home there myself, for my son, and his future family. This isn’t bullshit like most things Bush and company get involved with, and it now make the global warming problem seem trivial. No wonder why he said it wasn’t a problem. He already knew the real problem."
This isn't the only reason why interest rates cause booms and busts.
Imagine that you want to build a house. Normally you would go to the bank and take out a loan. If interest rates are lower, you could afford to build a bigger bank because enough people have 1)saved money to lend to you, and 2) they have reduced their own consumption enough that resources exist to build the house you want.
However, when the Federal Reserve decreases interest rates, it does so by increasing the money supply.
So, when you go to the bank, you'll see more money, and you'll think to yourself "hey, I can build a big house!"
However, the people -- other construction companies included -- around you have NOT decreased consumption. Thus prices have to go up, and suddenly you realize that the amount of money you borrowed is not enough.
So, you have a boom -- people building things they think they can afford -- and a bust -- the sudden realization that there aren't enough resources to go around at the expected price.
This was F.A. Hayek's Nobel Prize winning Austrian Theory of the Business Cycle (it wasn't actually thought up by Hayek, credit should really go to Mises).
Here's a great Rap that illustrates the differences between the Keynesian perspective and the Austrian perspective.
Good question Modern. We are suppose to learn from history so not to make the same mistakes. That is the real reason why the tea party rose up and caught on. THey wanted to protest the current economy and the way it is being dealt with. Many call them radicals and that they only want to hurt Obama. Well guess what, the tea party was formed and started protesing before Obama was President. They started at the end of Bushes term. Notice the tea party never is heard from on any other issue not related to economic impact.
They can audit the fed then end it. Why do they want to cut social programs before corporate handouts?
I think its because its the biggest part in the budget, so they think a large cut there would do better than large cuts in smaller parts of the budget. You may want to read my hub showing how we can make the cuts without touching them
http://americanview.hubpages.com/hub/He … et-Serious
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