"Economic depression cannot be cured by legislative action or executive pronouncement. Economic wounds must be healed by the action of the cells of the economic body - the producers and consumers themselves." HERBERT HOOVER (R) 1929-1933 His prescription for the Great Depression, 1929-1939 To overcome the nation's dire straits amidst the Bush/Cheney Great Recession, The American Recovery and Reinvestment Act of 2009, a massive $792 billion fiscal stimulus legislative package, was passed by Congress, and triggered an unprecedented 10+ year era of economic growth, with only 3 Republican Senators and 0 Republican Congressmen voting in favor of the bill. Eleven years later, amidst economic collapse, a massive $2 trillion fiscal stimulus package has passed both House and Senate with overwhelming bipartisan support. Conspicuous amidst the impressive solidarity was a lone remnant of Hooverism: Throwhback Thomas Harold Massie (R) (Some cynics suspect Massie's stunt as being a wily ploy calculated to insure social distancing from all his House peers. Rumors that, in contravention of CDC advisories, he is also abstaining from all personal hygiene to the same end are unsubstantiated.) Imagine what GOP icon Herbie would think of self-proclaimed "King of Debt!" Trump's giveaway scheme!
Interesting the that this economic crisis is being handled the same as the last economic crisis. Plenty of hubris and hypocrisy on all sides of the political spectrum. Unfortunately, now Donald Trump is the King of Debt ($5 trillion + increase at the end of his first term). I would much preferred this not to be the case. But there it is. Everything that Obama was rightfully criticized for, Trump has now eclipsed - Bigger increase in debt, Bail-outs, Give-aways, Stock market returns, Poor GDP growth ... Trump's numbers will be worse than Obama's on all fronts. Good chance we'll see higher unemployment than when Obama left office as well.
The GOP's purported fiscal conservatives' pretense to responsible budgetary management has now gone the way of White evangelicals' phony insistence on personal moral integrity, both exposed by their craven surrender of principle to the depravity of Trumpery.
Trump hasn’t greatly influenced the Republican Party he’s simply highlighted it’s depravity. It’s one area where he doesn’t deserve the blame.
The Buck Stops There. Look. Obama faced a virus that was more deadly than Covid-19 during the H1N1 epidemic. The difference? People didn't panic because they had more trust in how the government would face a crisis. Trump has been undermining trust in government agencies since he took office - and purposely so because it played to his base. Now we are paying for his games with a stock market crash and runs on guns and toilet paper - not because the virus is any more deadly, but because of Trump's management style. He built this crisis.
The theoretical and the reality on the ground often butt heads. We’ve simply got to be open and prepared for adaptation and invention. From my experience there is nothing pure. Let the data guide you and get the job done to the best of your ability in those moments. I’ve kept a journal for decades and every few years read it. IMO it’s good to know where your mind has been over the years. At times I find my thoughts completely unrecognizable both good and bad: it’s deflating and up lifting.
He repeatedly downplayed it until he could no more. And even still, he insists that governors say nice things about him if they want help. To me, it is perhaps the weirdest most messed up creepy aspect of Trump’s presidency. Every one who works for him has to praise him whenever they speak In public.
You can suggest that if you wish. In fact, Trump is no more responsible for the economic collapse than he was responsible for the record 10+ years of growth, although his failure to listen to warnings concerning the severity of COVID-19 in timely fashion will contribute significantly to its toll, both human and economic.
I'm starting to think that a severe depression might be the jolt people need to finally address the real problems facing society.
Sorry no it is not. Almost all of the Obama stimulous was spent preserving government jobs and paying back D party bundlers only about 5% was spent on so called shovel ready jobs.
A real depression would be the best thing ultimately for the country. It is an unfortunate fact that prosperity tends to ruin civilizations. It makes people lazy and stupid. The lazy doesn't bother me so much, but the stupid drives me nuts.....
