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Pennsylvania Ted......you remind me of the "LONE RANGER" besieged in the old Wild West.
With the exception of an accurately informative post by Stephen Mitchell.....and TOM B.....you are outnumbered by the
"usual suspects", whose comments are strictly dictated by emotion, and not reality.
Riding in to "rescue" is "TONTO TED" with 2 Colt 45's blazing (hey guys, I actually own these antiques from the Civil War
era).
Stephen M. spoke of the post-Depression period and I'll further elaborate for the benefit of our uninformed posters here.
Hoover was the President on that 1st "day of infamy" when the "Great Depression" occurred on Oct. 29th, 1929. Hoover
used his "bully pulpit" to try to rally the American people with his "optimistic" speeches in 1930-32; however, mere words
were very ineffective.
In 1933 FDR took over and increased the Big Government remedies in an attempt to restore the country's economic woes.
FDR's policies were very similar to what our politicians are doing now. FDR's policies DID NOT alleviate the economic woes,
as is evident in the following UNEMPLOYMENT numbers for the 12 years following the Depression......
1930....25.5%
1935....20.3%
1936....16.9%
1937....14.3%
1938....19.1%
1939....17.2%
1940....14.8%
It was not till 1942 that the Unemployment figures finally dropped. It took WWII to reduce unemployment to an unprece-
dented low of 1.9%.
So, let's hope that our new President learns from this history....eloquent and grandious rhetoric will not pull us out of our
current economic problems....nor will "Big Government" policies.
Allow the American people the freedom to control more of their hard earned $$$$$....however they so desire. And, watch
this current recession vanish within a year.
Too many of our politicians have forgotten, or have ignored George Santayana's famous aphorism......
"Those who cannot remember the past, are condemned to repeat it".