Digg Please: JP Morgan 1907, Fed, Bear Stearns 2008, Ron right again!

[Aratus]

henry wallace the republican populist wasn't a complete total idiot in the 1930s?
also harold ickes deserves meantion? until einstein's letter, inside the new deal,
henry wallace was FDR's "mr. science guy" and if senator mike gravel now says he
no LONGER sees people like FDR's old party and/or hacks at all inside TODAY's democrats
and EVEN this lacking of a traditionalism is a bad thing, then what are they ALL on???
i pensively wonder... as john edwards gets solicited by the other 2 for his few delegates!!!

 

[Aratus]

yes. the great plains and steel plows happen from the 1880s onwards. o pioneers.
there is a 3 1/3 year business cycle sorta like the planet mars. there are longer
cycles. possibly even the kondratieff wave. saturn cycles. three cycles bottom.
rather than a low, high and/or flexible and responsive tariff approach as advocated
by poor mr. william mckinley in new york some 32 years earlier, smoot-hawley does
something akin to the ironically named 1890 tariff! namely as the rates are hiked
to compensate for decreasing revenues, this creates a downward spiral as higher
rates decrease trade. we by 1932 start to see hoover flags and those shanties near
the small river oh so near the white house. 1/3 of the nation is out of work and either
starving or so close to starvation. wages drop as people who can't keep up with the
increased tempos of assembly lines are fired. further having people unemployed. the
socialist of the time, norman thomas gets votes. huey long has ambitious ideas... we
go into 1932, have a market rebound of sorts to a 1937 high, and then ww2. it was
not keynes who pulled us out of the great depression in full. it was keynes who was a
buzzword of the era. the bonus army that marches on washington, that my grandfather
saw bludgeoned and hosed down by troops under macarthur's command did not get
either fdr or hoover to honor their benefits until some 500 bonus marchers die in the
florida keys in 1937. congress THEN over-rides a presidential veto. the 1930s were a
difficult time. my grandfather, who was part of pan am from 1920 to 1930 knew juan trippe.
he flew in ww1 and also flew airmail betweem boston and NYC after the war and before
joining pan am. he knew mr. chamberlain the aviator and also once socialized with lucky lindy.

 

[Aratus]

http://www.keyshistory.org/hurrmemorial.html

 

[Aratus]

offically its 423 confirmed veteran and civilian bonus marchers...

 

[Aratus]

do folks sorta imply juan mccain sorta has a juan trippe china clipper china lobby connection?

 

[libertythor]

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[Aratus]

this is the guy who revolutionized aviation in the pacific!
http://www.charleslindbergh.com/plane/trippe.asp
he was a close friend of my grandfather, and his boss, too!

 

[Aratus]

given that the 1958 flight of a 707 to paris again revolutionizes
aviation, what would the late JUAN TRIPPE say if JOHN McCAIN
ends up with 737 official delegates at the September convention!

 

[hotbrownsauce]

Bear Stearns moves about 16 billion dollars worth of money around a year. They were one of the very biggest sellers of Securities (bonds and stock) and investment banks.

It serves corporations, institutions, governments and individuals. The company's business includes corporate finance, mergers and acquisitions, institutional equities and fixed income sales, trading and research, private client services, derivatives, foreign exchange and futures sales and trading, asset management and custody services.................................. According to the April 2005 issue of Institutional Investor magazine, Bear Stearns was the seventh largest securities firm in terms of total capital.

Source http://en.wikipedia.org/wiki/Bear_Stearns

Point being, Bear Stearns was a huge player in the movement of money, investment of money, and transferrer of money. The FED could not let them go under. Going under could have had an equivalent affect as when banks went under in the great depression. Only this time it would only take a few banks to go under since there are less smaller banks.

This economic slow down should be very suspicious to everyone here. The Fed is running around like a chicken with its head cut off trying to stop a rescission and hopefully not a depression. When will congress learn to get rid of the FED?

 

[libertythor]

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[libertythor]

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[libertythor]

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