You've posted the same ***** three times now. You will never convin=

anyone with your stupid posts that "the economy is doing great". Peop=

beleive what they observe rather than the ramblings of some nut case, m=

patient, like you. High-tech jobs are being offshored to asia while ho=

values have reached completely unaffordable levels for many middle class
people and wages remain stagnent. Yup, that is a good economy.

Get a life! Idiot!

i agree 100% with you. only fools believe this is some sort of good
economy. almost everything points to the opposite. in fact it looks
similar to 1928.
so i am posting this for the dope. it will not understand the
implications of this piece. it is to stupid for that. but you never
know.

http://www.huppi.com/kangaroo/Timeline.htm

TIMELINES OF THE GREAT DEPRESSION:

This page features two timelines: the first for general events of the
Roaring 20s and the Great Depression, the second for leading economic
indicators.

The importance of these timelines cannot be emphasized enough. Seeing
the order in which events actually occurred dispels many myths about
the Great Depression. One of the greatest of these myths is that
government intervention was responsible for its onset. Truly massive
intervention began only under the presidency of Franklin Roosevelt in
1933, who was sworn in after the worst had already hit. Although his
New Deal did not cure it, all the leading economic indicators improved
on his watch.

But don't take my word for it -- here is the raw data:

TIMELINE OF GENERAL EVENTS

1920s (Decade)

During World War I, federal spending grows three times larger than tax
collections. When the government cuts back spending to balance the
budget in 1920, a severe recession results. However, the war economy
invested heavily in the manufacturing sector, and the next decade will
see an explosion of productivity... although only for certain sectors
of the economy.
An average of 600 banks fail each year.
Agricultural, energy and coal mining sectors are continually
depressed. Textiles, shoes, shipbuilding and railroads continually
decline.
The value of farmland falls 30 to 40 percent between 1920 and 1929.
Organized labor declines throughout the decade. The United Mine
Workers Union will see its membership fall from 500,000 in 1920 to
75,000 in 1928. The American Federation of Labor would fall from 5.1
million in 1920 to 3.4 million in 1929.
"Technological unemployment" enters the nation's vocabulary; as many
as 200,000 workers a year are replaced by automatic or semi-automatic
machinery.
Over the decade, about 1,200 mergers will swallow up more than 6,000
previously independent companies; by 1929, only 200 corporations will
control over half of all American industry.
By the end of the decade, the bottom 80 percent of all income-earners
will be removed from the tax rolls completely. Taxes on the rich will
fall throughout the decade.
By 1929, the richest 1 percent will own 40 percent of the nation's
wealth. The bottom 93 percent will have experienced a 4 percent drop
in real disposable per-capita income between 1923 and 1929.
The middle class comprises only 15 to 20 percent of all Americans.
Individual worker productivity rises an astonishing 43 percent from
1919 to 1929. But the rewards are being funneled to the top: the
number of people reporting half-million dollar incomes grows from 156
to 1,489 between 1920 and 1929, a phenomenal rise compared to other
decades. But that is still less than 1 percent of all income-earners.
1922
The conservative Supreme Court strikes down federal child labor
legislation.
1923
President Warren Harding dies in office; his administration was easily
one of the most corrupt in American history. Calvin Coolidge, who is
squeaky clean by comparison, becomes president. Coolidge is no less
committed to laissez-faire and a non-interventionist government. He
announces to the American people: "The business of America is
business."
Supreme Court nullifies minimum wage for women in District of
Columbia.
1924
The Ku Klux Klan reaches the height of its influence in America: by
the end of the year it will claim 9 million members. It will decline
drastically in 1925, however, after financial and moral scandals rock
its leadership.
The stock market begins its spectacular rise. Bears little relation to
the rest of the economy.
1925
The top tax rate is lowered to 25 percent - the lowest top rate in the
eight decades since World War I.
Supreme Court rules that trade organizations do not violate anti-trust
laws as long as some competition survives.
1928
The construction boom is over.
Farmers' share of the national income has dropped from 15 to 9 percent
since 1920.
Between May 1928 and September 1929, the average prices of stocks will
rise 40 percent. Trading will mushroom from 2-3 million shares per day
to over 5 million. The boom is largely artificial.
1929
Herbert Hoover becomes President. Hoover is a staunch individualist
but not as committed to laissez-faire ideology as Coolidge.
More than half of all Americans are living below a minimum subsistence
level.
Annual per-capita income is $750; for farm people, it is only $273.
Backlog of business inventories grows three times larger than the year
before. Public consumption markedly down.
Freight carloads and manufacturing fall.
Automobile sales decline by a third in the nine months before the
crash.
Construction down $2 billion since 1926.
Recession begins in August, two months before the stock market crash.
During this two month period, production will decline at an annual
rate of 20 percent, wholesale prices at 7.5 percent, and personal
income at 5 percent.
Stock market crash begins October 24. Investors call October 29 "Black
Tuesday." Losses for the month will total $16 billion, an astronomical
sum in those days.
Congress passes Agricultural Marketing Act to support farmers until
they can get back on their feet.
1930
By February, the Federal Reserve has cut the prime interest rate from
6 to 4 percent. Expands the money supply with a major purchase of U.S.
securities. However, for the next year and a half, the Fed will add
very little money to the shrinking economy. (At no time will it
actually pull money out of the system.) Treasury Secretary Andrew
Mellon announces that the Fed will stand by as the market works itself
out: "Liquidate labor, liquidate stocks, liquidate real estate... values
will be adjusted, and enterprising people will pick up the wreck from
less-competent people." (More)
The Smoot-Hawley Tariff passes on June 17. With imports forming only 6
percent of the GNP, the 40 percent tariffs work out to an effective
tax of only 2.4 percent per citizen. Even this is compensated for by
the fact that American businesses are no longer investing in Europe,
but keeping their money stateside. The consensus of modern economists
is that the tariff made only a minor contribution to the Great
Depression in the U.S., but a major one in Europe. (More)
The first bank panic occurs later this year; a public run on banks
results in a wave of bankruptcies. Bank failures and deposit losses
are responsible for the contracting money supply.
Supreme Court rules that the monopoly U.S. Steel does not violate anti-
trust laws as long as competition exists, no matter how negligible.
Democrats gain in Congressional elections, but still do not have a
majority.
The GNP falls 9.4 percent from the year before. The unemployment rate
climbs from 3.2 to 8.7 percent.
1931
No major legislation is passed addressing the Depression.
A second banking panic occurs in the spring.
The GNP falls another 8.5 percent; unemployment rises to 15.9 percent.
1932
This and the next year are the worst years of the Great Depression.
For 1932, GNP falls a record 13.4 percent; unemployment rises to 23.6
percent.
Industrial stocks have lost 80 percent of their value since 1930.
10,000 banks have failed since 1929, or 40 percent of the 1929 total.
About $2 billion in deposits have been lost since 1929.
Money supply has contracted 31 percent since 1929.
GNP has also fallen 31 percent since 1929.
Over 13 million Americans have lost their jobs since 1929.
Capital growth investments have dropped from $16.2 billion to 1/3 of
one billion since 1929.
Farm prices have fallen 53 percent since 1929.
International trade has fallen by two-thirds since 1929.
The Fed makes its first major expansion of the money supply since
February 1930.
Congress creates the Reconstruction Finance Corporation. (More)
Congress passes the Federal Home Loan Bank Act and the Glass-Steagall
Act of 1932. (More)
Top tax rate is raised from 25 to 63 percent.
Popular opinion considers Hoover's measures too little too late.
Franklin Roosevelt easily defeats Hoover in the fall election.
Democrats win control of Congress.
At his Democratic presidential nomination, Roosevelt says: "I pledge
you, I pledge myself, to a new deal for the American people."
1933
Roosevelt inaugurated; begins "First 100 Days" of intensive
legislative activity. (More)
A third banking panic occurs in March. Roosevelt declares a Bank
Holiday; closes financial institutions to stop a run on banks.
Alarmed by Roosevelt's plan to redistribute wealth from the rich to
the poor, a group of millionaire businessmen, led by the Du Pont and
J.P. Morgan empires, plans to overthrow Roosevelt with a military coup
and install a fascist government. The businessmen try to recruit
General Smedley Butler, promising him an army of 500,000, unlimited
financial backing and generous media spin control. The plot is foiled
when Butler reports it to Congress. (More)
Congress authorizes creation of the Agricultural Adjustment
Administration, the Civilian Conservation Corps, the Farm Credit
Administration, the Federal Deposit Insurance Corporation, the Federal
Emergency Relief Administration, the National Recovery Administration,
the Public Works Administration and the Tennessee Valley Authority.
(More)
Congress passes the ...

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