The next Great Depression is just around the corner

You want your conservative friends to think for a minute. Tell them that this country has had an economic downturn in each of the last three times the Republicans controlled the White House and the U.S. House and Senate. We're in it now with Bush (despite what the media parrots keep telling us), we had it in the first two years of Eisenhower, and, when we were foolish enough to let the Republicans run everything for a sustained period of time, we had the Great Depression.

Yes, the Republicans controlled the U.S. House and Senate every year under the Harding, Coolidge and Hoover administrations, who were all Republicans. Especially under Coolidge, there were economic policies which lowered the tax burden on the rich and other things which threw the nation into an economic convulsion.

Don't let them dupe you into believing that the Smoot-Hawley tariff threw the country into the Great Depression. (In his debate with Ross Perot on NAFTA in 1992, Al Gore mentioned implicated that Smoot-Hawley threw the nation into the Great Depression and Perot could only give a blank stare and not rebut the comment.) Smoot-Hawley was passed by Congress 6 months AFTER the 1929 stock market crash. It was not the cause of the Great Depression. Laissez-faire, deregulation-type, trickle-down economic policies of the 1920s led to the Great Depression.

Republicans are always quick to blame the Democrats for messes that occur under their watch. Cripe, Bush I was still blaming Jimmy Carter for most of their problems. How can you argue about the Great Depression when the Republicans controlled the country for 12 straight years!

Welcome to DU!!!

Because the minute they get into office they start looting the treasury and handing out our money to their corporate cronies who stash it overseas along with our jobs!



http://www.wgoeshome.com

canard has been debunked so many times it ought to be on the snopes.com "urban legends" site.

Instead, it has been used as a bludgeon against anyone questioning the wisdom of this zealous devotion to free trade, even if it is unilateral on our part, for the last 70 years.

What few people ever point out is that the U.S. practiced "protectionism" for the first century of its existence and grew into the greatest industrial power on the planet, while the British empire, from which and by whom we have been poisoned with this pernicious doctrine, fell into decline.

stocks on the margin with only 10% down. Buyers would typically use their profits to buy more stock, not pay their 90% debt. With the influx of so much money, stocks became overvalued and when the bubble burst, stockholders had to pony up the money ASAP. That meant cleaning out savings accounts, selling their homes, losing their jobs, banks going bankrupt, etc.

Tell them that this country has had an economic downturn in each of the last three times the Republicans controlled the White House and the U.S. House and Senate.

I thought that during the Reagan administration the Repugs controlled the house and senate also.

during the first 6 years under Reagan. The House was controlled by Democrats for nearly 50 years before Newt & Co. took over.