posted on Jul, 2 2012 @ 06:12 PM
OK, maybe it's a stretch...
In 1929, the stock market crashed, we all know the horror stories, the Great Depression, all that stuff...Then, in 1936, seven years later, record
heat waves struck the nation. Records that would not be challenged for nearly a century.
In 2005, there was a stock market crash that brought on the present day recession. Now, 2012, seven years later, we're breaking those records from
1936. All of them, all over the nation. Busting them.
If we go by the same timeline: www.hyperhistory.com...
Top tax rate raised to 79 percent.
Economic recovery continues: GNP grows a record 14.1 percent; unemployment falls to 16.9 percent.
The Supreme Court declares the National Labor Relations Board to be unconstitutional.
Roosevelt seeks to enlarge and therefore liberalize the Supreme Court. This attempt not only fails, but outrages the public.
Economists attribute economic growth so far to heavy government spending that is somewhat deficit. Roosevelt, however, fears an unbalanced budget and
cuts spending for 1937. That summer, the nation plunges into another recession. Despite this, the yearly GNP rises 5.0 percent, and unemployment falls
to 14.3 percent.
The unemployment rate in May... 8.2 (I guess the difference in Depression and Recession) ... things are improving. Very, very slowly improving...
The United States will begin emerging from the Depression as it borrows and spends $1 billion to build its armed forces. From 1939 to 1941, when the
Japanese attack Pearl Harbor, U.S. manufacturing will have shot up a phenomenal 50 percent!
The Depression is ending worldwide as nations prepare for the coming hostilities.
Roosevelt began relatively modest deficit spending that arrested the slide of the economy and resulted in some astonishing growth numbers.
(Roosevelt's average growth of 5.2 percent during the Great Depression is even higher than Reagan's 3.7 percent growth during his so-called 'Seven
Fat Years!') When 1936 saw a phenomenal record of 14 percent growth, Roosevelt eased back on the deficit spending, worried about balancing the
budget. But this only caused the economy to slip back into a recession in 1938.
World War II starts with Hitler's invasion of Poland.
Although the war is the largest tragedy in human history, the United States emerges as the world's only economic superpower. Deficit spending has
resulted in a national debt 123 percent the size of the GDP. By contrast, in 1994, the $4.7 trillion national debt will be only 70 percent of the GDP!
The top tax rate is 91 percent. It will stay at least 88 percent until 1963, when it is lowered to 70 percent. During this time, America will
experience the greatest economic boom it had ever known until that time.
So, no big change took place until we went WAAAYYYYY into debt and Japan attacked us. ...It may be China this time, or North Korea, but it looks like
it's playing out the same way again...
so....shoot up the taxes and go ahead borrow money from other countries. When they attack us, kick their butts and write it all off... seems to be the
Those who fail to learn history the first time are doomed to repeat it