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Thread: On Economics

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    Cool On Economics

    Everyone knows FDR. The man of the New Deal and the 'hero' of government welfare. But what was he referring to when he proclaimed that 'Happy Days Are Here Again?'

    Was he referring to the 1.5 million married women that had been abandoned by their husbands?

    What about the fact that minorities were hurt the most by job layoffs? FDR ran as a Democrat, the supposed party of 'social justice,' (despite fighting against every major civil rights initiative since its founding in 1829 and using the KKK to keep African Americans and Republicans out of power in the South) yet minorities were the most affected by layoffs due to the racist Democrat-created New Deal, "most of the programs targeted unemployed white males. Black males were either shut out completely or had to settle for separate and lower pay scales. A shortage of jobs in the Southwest led to the illegal deportation of 400,000 Mexican-Americans so that whites could get more jobs or government relief." What? Racist Democrats? This MUST be fake news.

    Seems more in line with the ICE family detention policies implemented by the Obama administration, where 2,362,966 border crossers were detained from fiscal year 2010 to 2016.

    But I'm not here to get on a soapbox about racism. What I really want to talk about is economics.

    Everyone remembers the New Deal and the 'hero' of FDR, but overlooks the decades of suffering that new and established Americans of all colors and backgrounds endured as a result of these terrible policies.

    But who remembers JP Morgan Sr., the American financier who dominated corporate business and single handedly prevented an American recession in a matter of 20 minutes during the Panic of 1907?


    "The New York Stock Exchange didn't have enough money to complete its trades, and the head of the Exchange came across the street to Morgan and said 'we're gonna have to close before 3:00 because we can't keep the trades going.' Morgan said, 'You can't do that, in this climate it will make things so much worse. We have got to keep the stock exchange open.' So he called several of the leading bankers to his office and said, 'We need 20 million dollars in 20 minutes to send across the street to the stock exchange.' And these guys, without flinching, put up that money. It's evidence of how much they trusted Morgan, that they knew he was the guy that could stop this, and he wasn't going to do anything tricky with it. Later that week, New York City couldn't meet its payroll. It went on like this for two harrowing, terrible weeks, and finally, it began to subside. One of the headlines in the middle of this, something like 'Stocks Stabilized for the Moment, and JP Morgan has a Cold'" How JP Morgan Chase Became The Largest Bank In The US, CNBC (video link below).

    To put that last line into perspective, the great JP Morgan hadn't slept for weeks, crunching calculations and glaring over business data to help save the economy. His long successful history in the financial community made him respected and trusted by his peers, and he was the right man to save the economy at the time. How does his long forgotten triumph compare to the heavily studied decades-long Great Depression maintained by over-regulation from the federal government?

    "While Morgan was celebrated on Wall Street for saving the economy, people quickly realized that perhaps one banker shouldn't have so much power." CNBC

    WHY NOT???

    After all of his work and experience, and the amazing success he made with the 1907 recovery, shouldn't he have so much power? He earned it, after all, through trust and the voluntary interactions he made with other bankers, not through force and the end of a gun, as is seen in modern FBI raids of financial institutions that are, ironically, supported by tape and glue through the Federal Reserve and their stupid 'Too Big to Fail' economic 'policy.'

    The government can take your money at gunpoint, businesses have to persuade you.

    The Federal Reserve System ITSELF takes responsibility for the terrible, hair-pulling, drawn-out economic recoveries our country has suffered since the government took over the 'bail out business' in 1913 with the founding of our central bank. In a 2015 article, the Federal Reserve states:

    "The panicís impact is still felt today because it spurred the monetary reform movement that led to the establishment of the Federal Reserve System." Federal Reserve History

    Maybe it's time to return private business into private hands and minds that have a vested personal interest in keeping our economy alive and thriving, the greatest economy in the world, the one that has lifted so many up into the middle class.

    Just a thought. Post yours below.


    Here's that video I was talking about if you want to see the whole thing:

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    What about the fact that minorities were hurt the most by job layoffs?

    Look I'm sorry but I have to address the above statement. I am TIRED of always talking about minorities. I'm TIRED of every subject being addressed as some sort of minority issue. I'm tired of being assaulted every day with how bad the poor black guy has it & then seeing 70% of every sports team made up of blacks all making more per year than the average american (no matter what color) makes in 10 years. Everything is NOT about one race or another.

    A starving person is a starving person & color doesn't matter. Minorities were NOT the hardest hit in the depression, poor people were. Poor people are ALWAYS the ones that are worse off when the economy goes down hill. And during this virus they were the worse off once again because they had no savings to fall back on. Hell the way people live now days (with plastic & debt) my guess is that many people are in the same boat as those in the depression because most now days don't even have a month of savings to fall back on. About the only good thing that could come of this virus is that a very, very, very small percent of people might realize that they need to change the way they live.

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    I can't wrap my head around it all, but I give credit to anyone who tries to do so.... without doing harm to the American way as framed by our Founding Fathers.

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    I agree with you 100%, Tex. It's a complete distraction from the issues that really matter. I use it, however, as a wake up call, that those who support the liberal progressive movement because they believe the other side is racist have it all wrong, and hope that those in the community will start to listen to leaders like Larry Elder, Brandon Tatum, and Candace Owens, who are sharing that freedom from welfare, and the American Dream, can be theirs too.

    At the end of the day it doesn't matter what color your skin is. You're right, the poor were hit hardest, and nowadays with affirmative action and everything else, we have more than made up. The government does not care about you and your economic condition when the recession hits and everything goes south. But there are so many people in this country that believe that the government cares about their financial situation and until they wake up, more of their freedoms and opportunities will disappear into new government programs. Maybe highlighting what I have done will help, as the progressives rely on 100% of the minority vote to win. Not that the other side is any better.

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    Quote Originally Posted by OldSchool View Post
    I can't wrap my head around it all, but I give credit to anyone who tries to do so.... without doing harm to the American way as framed by our Founding Fathers.
    Thanks OldSchool. I will try my best to stay true to our cherished American values
    Last edited by promoderate; 06-29-2020 at 08:11 PM.

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    Quote Originally Posted by promoderate View Post
    Thanks OldSchool. I will try my best to stay true to our cherished American values
    I've now read two of your posts, and have no reason to doubt you.

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    Everyone remembers the New Deal and the 'hero' of FDR, but overlooks the decades of suffering that new and established Americans of all colors and backgrounds endured as a result of these terrible policies.

    Your right on with that comment. The depression was world wide. FDR did what no other world leader did & stepped in to "help" the people. The rest of the world came out of the depression in less than 2 years (if I remember it right). The US (because of the new deal) didn't really come out of the depression for something like 5 or 6 years & even then the economy wasn't strong. Just another example of the government "helping" which turned out to be the worse thing that they could have done.

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    Your founding fathers made Central Banking illegal, and forbade it in the Constitution. They weren't stupid, they had the measure of bankers, they knew what a bunch of crooks bankers are. The elite who founded the Fed used their money and influence to get the Constitution changed to allow the creation of the Fed, and the First thing the Fed did was initiate its Fractional Reserve Banking Fraud, and in 20 years they brought the US Government to its knees and nearly broke America,

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