Comments on: In 1930…as in 2009…the Average Fellow Thought the Crisis had Passed http://www.dailyreckoning.com.au/in-1930-as-in-2009-the-average-fellow-thought-the-crisis-had-passed/2009/07/02/ An independent perspective on the Australian and global investment markets Sun, 21 Mar 2010 08:37:19 +0000 http://wordpress.org/?v=2.8 hourly 1 By: Greg Atkinson http://www.dailyreckoning.com.au/in-1930-as-in-2009-the-average-fellow-thought-the-crisis-had-passed/2009/07/02/comment-page-1/#comment-87361 Greg Atkinson Fri, 03 Jul 2009 23:56:38 +0000 http://www.dailyreckoning.com.au/?p=6458#comment-87361 There are plenty of alternatives. Government intervention does not have to mean government bailouts. Besides people tend to forget that governments intervene everyday. Governments collect taxes, they enforce and modify corporate laws, they regulates banks, they are suppose to protect investors and they are tasked with managing the federal budget. In fact if the daily doses of government intervention in the U.S actually worked we would not be in this mess now. There are plenty of alternatives. Government intervention does not have to mean government bailouts. Besides people tend to forget that governments intervene everyday. Governments collect taxes, they enforce and modify corporate laws, they regulates banks, they are suppose to protect investors and they are tasked with managing the federal budget.

In fact if the daily doses of government intervention in the U.S actually worked we would not be in this mess now.

]]> By: me http://www.dailyreckoning.com.au/in-1930-as-in-2009-the-average-fellow-thought-the-crisis-had-passed/2009/07/02/comment-page-1/#comment-87264 me Fri, 03 Jul 2009 04:46:14 +0000 http://www.dailyreckoning.com.au/?p=6458#comment-87264 The danger in the 1930's, and the danger we have again today, is that without government intervention, the economy would not only have the correction it needed, but go further and collapse entirely. Roosevelts administration may have in fact caused the great depression, as Obama's today may be causing another, but what would have been the alternative? The bubbles that preceded both these crashes where so immense, that any correction would have ripped the very foundations of the US economy out from beneath it, causing a total collapse. We will never know what might have happened with a "do nothing" aproach, but I'll take a depression over total destruction any day. Lesser of two evils. The danger in the 1930's, and the danger we have again today, is that without government intervention, the economy would not only have the correction it needed, but go further and collapse entirely. Roosevelts administration may have in fact caused the great depression, as Obama's today may be causing another, but what would have been the alternative? The bubbles that preceded both these crashes where so immense, that any correction would have ripped the very foundations of the US economy out from beneath it, causing a total collapse. We will never know what might have happened with a "do nothing" aproach, but I'll take a depression over total destruction any day. Lesser of two evils.

]]> By: Dinakarananda http://www.dailyreckoning.com.au/in-1930-as-in-2009-the-average-fellow-thought-the-crisis-had-passed/2009/07/02/comment-page-1/#comment-87217 Dinakarananda Fri, 03 Jul 2009 01:15:39 +0000 http://www.dailyreckoning.com.au/?p=6458#comment-87217 Printing money is just plain taxation without representation. Time for us to decide, 'yes we can' 'do or die' to end this and win back economic freedom. Happy Independence day. Printing money is just plain taxation without representation. Time for us to decide, 'yes we can' 'do or die' to end this and win back economic freedom. Happy Independence day.

]]> By: Jessi http://www.dailyreckoning.com.au/in-1930-as-in-2009-the-average-fellow-thought-the-crisis-had-passed/2009/07/02/comment-page-1/#comment-87124 Jessi Thu, 02 Jul 2009 17:32:52 +0000 http://www.dailyreckoning.com.au/?p=6458#comment-87124 I don’t think the worst is over. Confidence is still not up. It took since WWII to build up to this economic dispair and I don’t think it is going to be a quick fix nor do I think it will be over by spring. Housing in the US is not ready to bounce back despite some premature speculation and unemployment in up to 9.5%. I don’t think we’ve seen the full implications of the economical downfall. In Britain, it is suspected the Queen may be bankrupt by 2012. I think this should be looked into more carefully. Those wealthy big wigs still spend frivolously and don’t see the continuing degression of the middle class. Nothing being passed policy-wise is really putting a dent in what is important. Video on the Queen's demise: <a>http://www.newsy.com/videos/britain_s_royal_financial_dilemma</a> I don’t think the worst is over. Confidence is still not up. It took since WWII to build up to this economic dispair and I don’t think it is going to be a quick fix nor do I think it will be over by spring. Housing in the US is not ready to bounce back despite some premature speculation and unemployment in up to 9.5%. I don’t think we’ve seen the full implications of the economical downfall. In Britain, it is suspected the Queen may be bankrupt by 2012. I think this should be looked into more carefully. Those wealthy big wigs still spend frivolously and don’t see the continuing degression of the middle class. Nothing being passed policy-wise is really putting a dent in what is important.
Video on the Queen's demise: http://www.newsy.com/videos/britain_s_royal_financial_dilemma

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