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Not your grandfather’s depression

March 10, 2009

greatdepressionA widely publicized Rasmussen poll reports, “53% say the US is entering a 1930’s-style depression.”

Buried deep within the fine print, the same poll reports, “45% believe anyone who wants to work can find a job,” and “most say it is possible for just about anyone to work their way out of poverty in America.”

Rocky wonders, “Is someone trying to make political points with the reporting of this poll?”

Rocky checked his history books:
1930: Unemployment climbs from 3.2% to 8.7%
1931: Unemployment climbs to 15.9%
1932: Unemployment rises to 23.6%
And money supply contracted by more than 30% from 1930.

Currently, M2 money supply is growing at an inflationary 17%.

The economy is admittedly in bad shape. But in 1933, unemployment insurance, social security, and the FDIC, were just a gleam in the socialists’ eyes, and no self-respecting man would stand in a soup-line without his gatsby cap or fedora.

This sure ain’t your grandfather’s depression!

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  1. March 11, 2009 at 12:23 am

    Actually, Rocky, I believe that the 1930’s grandfathers are actually what caused this depression. This is because those old enough to remember the great depression have had the audacity to die (life expectancy in the 30s was 60ish, given them plus or minus 20ish years you end up with 2008! Exactly 2008!) and thus there is no one who remembers what causes these rifts in economicspacetime.

    Now as to whether it was your grandfather or my grandfather who is responsible, well that I don’t know, but my grandpa did own a gatsby cap.

  2. March 11, 2009 at 6:40 am

    David:
    Thank you for your insightful comment.

    Rocky notes the title of this piece was “Not Your grandfather’s depression.” Hence it was decidedly not YOUR grandfather.

    However, Rocky is silent on whether this is Tim Geithner’s grandfather’s depression.

    Perhaps it is actually Alan Greenspan’s depression?

  3. March 11, 2009 at 11:17 am

    Hey that gets me thinking. All this talk of depression…clearly what we need instead of TARP is PROZAC. Fluoxetine hydrochloride to cure all our economic woes (I wonder if there is a drug that makes people spend?)

  4. March 11, 2009 at 3:21 pm

    Dave:

    You are onto something….

    Rocky notes that the Government already started tampering with the nation’s Precious Bodily Fluids. But the Agency mis-read the memo, and used Sodium Fluoride instead of Fluoxetine HCl.

    See:

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