General Discussion

Albertoo

(2,016 posts)

12. I got it from a 'cloud'

Wed May 11, 2016, 11:50 PM

May 2016

I read a fair bit of economic papers from a rather wide spectrum of sources, and I notice in the new century increasingly frequent remarks "in passing" about studies that put in doubt the fact the New Deal solved the economic downturn (it's possible nothing could have)

However, this does not mean Keynes and Roosevelt were wrong: the crisis was so terrible it was essential to put people back to work and regain livelihoods. All I believe these studies say is that the New Deal cured the symptoms, but that it did not -and that any policy could not- cure a downturn which had been caused by massive prior mistakes (and the cyclical nature of the economy as we know it)

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15 replies

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Highlight:

Recession May Loom for Next U.S. President No Matter Who That Is [View all] Purveyor May 2016 OP

Makes sense... Peacetrain May 2016 #1

I've been thinking about that a lot Fresh_Start May 2016 #2

The next President could be appointing 3 or more Supreme Court Justices, pnwmom May 2016 #13

it's worse than that Albertoo May 2016 #3

That is the problem, the Fed can't prime the pump by lowering interest rates as they are damned near Purveyor May 2016 #4

Oh, it won't be 'another' 2008, it's the same Albertoo May 2016 #7

Re 1929: PETRUS May 2016 #9

Keynes/WWII... one and the same is apparently not what the new studies say Albertoo May 2016 #10

What new studies? PETRUS May 2016 #11

I got it from a 'cloud' Albertoo May 2016 #12

I too read a fair bit of economics. PETRUS May 2016 #14

Well, you don't have to trust me, but.. Albertoo May 2016 #15

no surprise here. the market's cyclical, and after the records highs, a pull back is def possible just4lulzidk May 2016 #5

Big recession and aggressive congress Thirties Child May 2016 #6

We do tend to over-emphasize what the Pres can do about the economy... Wounded Bear May 2016 #8