July 2, 200521 yr I love it how 95% of you Reagan bashers weren't even alive when he was in office :roll: rofl I remember when he was elected. Considering he doesn't even have the degree to be called a doctor. A PhD is a doctorate of philosophy, so it technically gives you the title of "Dr.", even though most people associate it with the MD degree.
July 2, 200521 yr im not sure that the government had low interest rates, even if they did most people did not borrow money from the government it was the merchants in the stock market that offered this "buying on margin," where you pay only a percentage of the stock. most people invested this way because they thought the stock was going to rise so they would be about to pay the rest later, but when investors lost confidence there was a huge crash. the government did not play a large role in the stock market or the economy until/during the great depression, where they made laws to prevent speculation and buying on margin, so that another crash would not occur. they also began to regulate the economy so people would not get into debt and would not loss faith in the banks. This is why I support FDR. well now that i know you dont know basic economics, this makes things more difficult. people dont borrow from the government (well, in theway you said it). the government lowered interest rates which the banks and financial institutions all had to follow. take for example your local savings and loan. you can get a loan for a house or a car from there and get a certain interest rate on it. this interest rate was set by the government at way to low of rates, so everyone started to borrow from the loaners, and the interest rates were set so the loaners couldnt really do anything about it. when they started to call in the debt, no one had money to pay it back. and then the banks couldnt pay back their debt either, and then all hell broke lose. if the government wouldnt have set such a low interest rate, then not as many people could borrow money. only the people who need to borrow woudl borrow then, and they wouldnt go crazy investing it whereever they want.
July 2, 200521 yr Washington was a horrible tactician, and non too bright. His first fort would have been totaly destroyed, had the french no pitied his ineptitude. (he built the fort in an area completely surrounded by hills) well thats just idiotic :shock: First and only pixel thinger I made.
July 2, 200521 yr im not sure that the government had low interest rates, even if they did most people did not borrow money from the government it was the merchants in the stock market that offered this "buying on margin," where you pay only a percentage of the stock. most people invested this way because they thought the stock was going to rise so they would be about to pay the rest later, but when investors lost confidence there was a huge crash. the government did not play a large role in the stock market or the economy until/during the great depression, where they made laws to prevent speculation and buying on margin, so that another crash would not occur. they also began to regulate the economy so people would not get into debt and would not loss faith in the banks. This is why I support FDR. well now that i know you dont know basic economics, this makes things more difficult. people dont borrow from the government (well, in theway you said it). the government lowered interest rates which the banks and financial institutions all had to follow. take for example your local savings and loan. you can get a loan for a house or a car from there and get a certain interest rate on it. this interest rate was set by the government at way to low of rates, so everyone started to borrow from the loaners, and the interest rates were set so the loaners couldnt really do anything about it. when they started to call in the debt, no one had money to pay it back. and then the banks couldnt pay back their debt either, and then all hell broke lose. if the government wouldnt have set such a low interest rate, then not as many people could borrow money. only the people who need to borrow woudl borrow then, and they wouldnt go crazy investing it whereever they want. i knew that... I used borrowed money from the government to shorten all of that this was one of the major ways that the regulated the money, they lowered and increased the interest rates to control the amount of borrowing the government also sells and buys bonds in order to regulate the economy they also produce more money if the economy is suffering (but this is rarely used) and i think you were referring to an event after the stock market crash, where everyone was afraid that the economy would fail, so they tried to withdraw all their money from their bank accounts. the bank did not have enough money to pay them back, so all the banks failed. FDR fixed this by having the fireside chats with the public to encourage them to put their money back into banks. he also issued many laws that would prevent this from happening. bank reforms were one of his major reforms. but it was still the merchants fault for offering buying on margin, where they did not actually borrow the money but only paid part of the share of the stock, not the governments fault... btw what is your background in history. I dont want to be arguing against a historian or something :wink:
July 2, 200521 yr I love it how 95% of you Reagan bashers weren't even alive when he was in office :roll: rofl I remember when he was elected. Considering he doesn't even have the degree to be called a doctor. A PhD is a doctorate of philosophy, so it technically gives you the title of "Dr.", even though most people associate it with the MD degree. I mean that he never got a PhD. I could be wrong because I've never actually seen it on a credible source, but I've encountered that statement a lot online and from people in the real world that he didn't get his doctorate.
July 2, 200521 yr I love it how 95% of you Reagan bashers weren't even alive when he was in office :roll: rofl I remember when he was elected. Considering he doesn't even have the degree to be called a doctor. A PhD is a doctorate of philosophy, so it technically gives you the title of "Dr.", even though most people associate it with the MD degree. I mean that he never got a PhD. I could be wrong because I've never actually seen it on a credible source, but I've encountered that statement a lot online and from people in the real world that he didn't get his doctorate.
July 2, 200521 yr btw what is your background in history. I dont want to be arguing against a historian or something :wink: articles on why the great depression happened, written by well known economists nathaniel branden and alan greenspan. im going to look for a link to it somewhere on the net, i read it out of one of my books. im not really adding anything to what they said, just summarizing it. ill edit if i find the articles.
July 2, 200521 yr btw what is your background in history. I dont want to be arguing against a historian or something :wink: articles on why the great depression happened, written by well known economists nathaniel branden and alan greenspan. im going to look for a link to it somewhere on the net, i read it out of one of my books. im not really adding anything to what they said, just summarizing it. ill edit if i find the articles. cool
July 2, 200521 yr I made my point about the stock market crash because it hadn't been mentioned yet. Any 'government interferance' was not FDR's fault, as he didn't get into office til 1932, as mentioned above. As I believe this whole argument was about his 'stupid laws', I think we can finish this now. And would someone please tell me what the heck Regan did to deserve this award????? Goals to get my skills back up to a barely respectable level on the high scores: Currently going for Bone to Peaches spell. It's amazing how boring doing the same repetitive task is! Stupid MTA
July 2, 200521 yr I think that Lincoln should have been considered top gun. Do you have any idea what he got us through and how skillfully he avoided a lot of conflict? Sure, we had the Civil War, but he was a rock hard president in those times.
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