What Do We Think About Climate Change

If you want to cut government, that's one thing. Doing it as abruptly as you want to do it would be fatal to the economy.

And I don't share your scorn for government employees. Most of them are decent people doing what they get paid to do -- and a whole lot of them have wives and children to support, mortgages to pay, so on and so forth. They don't deserve to abruptly be thrown onto the street in such numbers it would be almost impossible for them to find a job even flipping burgers. The sudden glut of unemployed would drive wages down for everyone else; the housing market would completely collapse... and as I mentioned, the sudden loss of consumer spending power would destroy entire industries, snowballing the unemployment to unheard of proportions.

I don't know why you're bringing up the stock market crash of 1917. It barely makes the top ten in history, and six of the 8 crashes worse than it happened between then and now. It certainly didn't result in any wholesale restructuring and cutting of the government.

 

And don't forget - they are mostly unionized.

 

todays crisis more closely resembles the crash I mentioned than it does any other

http://www.contrarianprofits.com/articles/why-todays-crisis-is-more-like-1919-than-1929/7903

and how Harding fixed it

http://angloaustria.blogspot.com/2009/05/why-youve-never-heard-of-1921.html

which links to an in-depth explanation found here

http://amconmag.com/article/2009/may/04/00024/

so once again history dictates what works ( Harding's response to a crash, cutting spending, crisis over within the year ) and what doesn't ( Roosevelt's new deal, increased spending, crisis went on for another 12 years and only let up because of WW2 lend lease deals )

those who do not know history
are doomed to repeat it

cheers
B

 

the unions made the middle class

hoy you'd be much happier if you were a serf in the middle ages, your perfect society

why is it when the capitalists band together it's the free market but let the workers band together and it's socialism?

 

bla bla bla gag

 

go play with your dutch masters lol

 

gag gag gag bla

 

its kinda a no brainer

and its a pretty well understood model

I'm not really going after the union concept here Troy but I am trying to show ample support within multiple sources for my take on both public sector workers and there excessive pay as well as point out that when govt tightens its belt things recover faster than when it tries to borrow its way out of debt.

 

How about a reality check? Only 28% of federal workers are unionized.

Go down to any federal office building, and check it out. The janitors, cafeteria workers and building maintenance workers may be union... but all those people filling the offices and cubicles won't be.

 

First of all, you have your crashes mixed up. Now you're talking about the Crash of 1919 -- which was completely separate from the crash of 1917: different causes, different cures, different outcome. Nor can you compare either of them to the Great Depression that Roosevelt had to cope with (which was in full swing before he even took office).

And it's quite a stretch to claim that something Harding did to the government somehow 'fixed' the crash of 1919. You think just maybe the end of WW1 might have had a little to do with the changes and adjustments in financial markets, the stock market, and government policies and structure back then?

I'm at work, and I don't have time to keep up with you when you keep shifting targets that way. But you aren't going to learn squat from history, if you can't even keep it straight....

 

my original was

the market events of the period between 1917 and 1921 are pretty blurry and its reasonable to take them as a single event although issues within the period differed the solution was almost universally the same

the govt tightened its belts and let a few people go

the result was the fastest recovery in market history if I remember right
hmmmm
let me go dig up a graph of the era

ok
the consumer price index is in red

basically the glitch happened so fast it didn't really have a chance to hit the retail market ( in blue )

and here's farm income from the same time period


interestingly enough here's union membership


and pardon me on my crash history I am typically shooting off the cuff and so if I'm off by a year oops
its been a while since I've been in a history class
whats funny is how much of it I do seem to remember

10th Worst Stock Market Crash: 2000 - 2002
Key events: Tech bubble bursting, September 11th terrorist attack

Date Started: 1/15/2000
Date Ended: 10/9/2002

Total Days: 999
Starting DJIA: 11,792.98
Ending DJIA: 7,286.27
Total Loss: -37.8%

9th Worst Stock Market Crash: 1916 - 1917
Key events: US being drawn into World War 1

Date Started: 11/21/1916
Date Ended: 12/19/1917

Total Days: 393
Starting DJIA: 110.15
Ending DJIA: 65.95
Total Loss: -40.1%

8th Worst Stock Market Crash: 1939 - 1942
Key events: World War 2, attack on Pearl Harbor

Date Started: 9/12/1939
Date Ended: 4/28/1942

Total Days: 959
Starting DJIA: 155.92
Ending DJIA: 92.92
Total Loss: -40.4%

7th Worst Stock Market Crash: 1973 - 1974
Key events: Vietnam war, Watergate scandal

Date Started: 1/11/1973
Date Ended: 12/06/1974

Total Days: 694
Starting DJIA: 1051.70
Ending DJIA: 577.60
Total Loss: -45.1%

6th Worst Stock Market Crash: 1901 - 1903
Key events: Assassination of President William McKinley; a severe drought causing alarm about US food supplies

Date Started: 6/17/1901
Date Ended: 11/9/1903

Total Days: 875
Starting DJIA: 57.33
Ending DJIA: 30.88
Total Loss: -46.1%

5th Worst Stock Market Crash: 1919 - 1921
Key events: Followed a post war boom, bursting of the first big tech bubble- the automobile sector (but after bottoming, this decade saw tremendous growth in the stock market and the economy, often called the roaring twenties)

Date Started: 11/3/1919
Date Ended: 8/24/1921

Total Days: 660
Starting DJIA: 119.62
Ending DJIA: 63.9
Total Loss: -46.6%

4th Worst Stock Market Crash: 1929
Key events: End of the roaring twenties, and kicked off the Great Depression

Date Started: 9/3/1929
Date Ended: 11/13/1929

Total Days: 71
Starting DJIA: 381.17
Ending DJIA: 198.69
Total Loss: -47.9%

3rd Worst Stock Market Crash: 1906-1907
Key events: The "Panic of 1907" due to a credit crunch in New York, as well as gloom due to President Roosevelt's antitrust drive

Date Started: 1/19/1906
Date Ended: 11/15/1907

Total Days: 665
Starting DJIA: 75.45
Ending DJIA: 38.83
Total Loss: -48.5%

2nd Worst Stock Market Crash: 1937-1938
Key events: Legacy of Great Depression, war scare and Wall street scandals

Date Started: 3/10/1937
Date Ended: 3/31/1938

Total Days: 386
Starting DJIA: 194.40
Ending DJIA: 98.95
Total Loss: -49.1%

Worst Stock Market Crash: 1930-1932

This is the grand daddy of them all. Investors lost 86% of their money over this 813 day beast. This market crash combined with the 1929 crash, makes up the Great Depression.

If you had $1000 on 9/3/1929 (beginning of the 4th worst crash, it would have gone down to a whopping $108.14 by July 8th, 1932 (end of the worst crash) or an 89.2% loss. To recover from a loss like that, you would have to watch your portfolio go up 825%! The full recovery didn't take place until 1954, 22 years later!

Date Started: 4/17/1930
Date Ended: 7/8/1932

Total Days: 813
Starting DJIA: 294.07
Ending DJIA: 41.22
Total Loss: -86.0%

References:
(1) About.com: The 10 worst stock market crashes in US history
(2) BBC News- Bear Markets: Wall Street's Worst

 

"Who are we having for Donner tonight?" - I got it! lol

 

That game is for Bill and Monica.

http://www.tophatcigar.com/a.cfm/Ma...rs-Cigar-Tobacco/President-box---Natural.html

 

donner?

it just pass me by, i don't get it