June 29, 2010

Depression of 1946 (there wasn’t a depression, but everyone predicted there would be one)

1943-45 Debt up 50% to 120% GDP.

• 47% labor worked for U.S. Government
• 27% labor in Unions

             (Either or)

- Unemployment 14-35%

 “The government cannot just disband the army, close down munitions factories, stop build ships, and remove all economic controls.”

- Alvin H. Hansen, 1943

Depression of 1946

• Business Week predicts 14% unemployment
• AFL forecasts 35% unemployment
• Republican slogan: “Had enough?” (ask yourself that question)

Using that slogan Republicans won control of congress. What they did was say 120% and 47% labor for US Gov. was too high and 27% labor unions was a problem. But, spending plummeted from 84 billion in 1945 to 30 billion one year later. They paid back the debts, Depression - none. The market was fixed quickly. Civilian employment didn’t go down. It grew 4 million jobs. Now, 4 million is half of the number Vice President, Biden, says we can never replace. Obviously, the government’s strategy isn’t working.

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After 9-11 the British sent over a gift to the U.S. of a bust of Churchill. Obama boxed up the statue and sent it back. Why? Does he have something against the British?

In a nutshell, Obama’s grandfather was arrested by British authorities in 1949. The story told by Obama’s Granny Sarah says he was tortured and beaten. He was held 6 months and then found guilty. Is this the reason Obama doesn’t respect the British much? Possibly so.