Could a Trump/Bernie be a repeat of Hoover/FDR?

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Bom Tishop

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Could a Trump/Bernie be a repeat of Hoover/FDR?
« on: March 16, 2020, 10:51:14 PM »
First

https://www.bbc.com/news/world-asia-china-51813876

If this is true, that means America can curb it quicker (in theory).

It really has to happen....for the economy... This is bad, very bad for business owners and employees alike. We all need to work together to flip the tide as soon as we can.

Second...

If you look at the numbers and history....we are basically following the same steps that lead to the great depression. The great depression was mostly caused by the government and the federal reserve, not by the people or the times.

If you look at the policies before and after, we are mimicking many of them. I am hoping I have missed something and am wrong, would love to be.

?

« Last Edit: March 16, 2020, 10:59:27 PM by Bom Tishop »

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Bom Tishop

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Re: Could a Trump/Bernie be a repeat of Hoover/FDR?
« Reply #1 on: March 16, 2020, 11:02:24 PM »
I changed the name to the thread as I thought it summed up my thoughts on this matter better and possibly opened up to discussion better.

Since Hoover and FDR's policies were responsible for the blunt of the great depression and it's length, could this be Trump then Bernie? The similarities are a bit unnerving

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Crouton

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Re: Could a Trump/Bernie be a repeat of Hoover/FDR?
« Reply #2 on: March 16, 2020, 11:08:37 PM »
Sounds like a good discussion.  I'm embarassed to admit that I don't know a lot about how Hoover and FDR ran their governments.  I'll have to read up on it.
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Bom Tishop

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Re: Could a Trump/Bernie be a repeat of Hoover/FDR?
« Reply #3 on: March 16, 2020, 11:47:13 PM »
Sounds like a good discussion.  I'm embarassed to admit that I don't know a lot about how Hoover and FDR ran their governments.  I'll have to read up on it.

You should read up on it, it's almost like a mirror. If it wasn't for them, the great depression would have been a 2 year recession instead of a 12 year depression. It probably would have went longer if it weren't for the war making us trade with the world again (out of necessity).

The federal reserve is acting just as terrible, mirroring their mistakes as well. Unfortunately just read they are pumping ANOTHER 1.5 trillion into the economy at the end of the week.

I really am starting to get nervous

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Bom Tishop

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Re: Could a Trump/Bernie be a repeat of Hoover/FDR?
« Reply #4 on: March 16, 2020, 11:51:01 PM »
The markets are already starting to mimic 2008. Not with the drop, but with the fact the bonds and gold prices are staying stagnant (with gold actually dropping) which is odd and only happens when bad shit is coming.

Cash is drying up

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Lorddave

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Re: Could a Trump/Bernie be a repeat of Hoover/FDR?
« Reply #5 on: March 17, 2020, 03:50:45 AM »
What policies?  I have 0 idea what they did aside from "the new deal"

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Pezevenk

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Re: Could a Trump/Bernie be a repeat of Hoover/FDR?
« Reply #6 on: March 17, 2020, 04:46:43 AM »
The Great Depression wasn't the fault of the government or the fed, it was mostly a natural occurrence, these things go in cycles. This one isn't really the fault of the fed either, it's mostly the fault of the pandemic, but also it triggered the burst of the bubble that had formed. The fed can make things worse but it's not the main cause and no matter what they did they couldn't stop it, they're in panic mode now. So it's much different from the Great Depression because this one had a specific "external" cause. It's definitely not gonna be Hoover/FDR but with Trump and Bernie because Trump won't be there for long enough and Bernie won't be president lol.
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MaNaeSWolf

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Re: Could a Trump/Bernie be a repeat of Hoover/FDR?
« Reply #7 on: March 18, 2020, 05:43:06 AM »
The federal reserve is acting just as terrible, mirroring their mistakes as well. Unfortunately just read they are pumping ANOTHER 1.5 trillion into the economy at the end of the week.
If I understand correctly, they did not actually inject any money into the market, they just released the Bonds that they hold over the banks.
Basically the government has tells the banks that they have to have x amount of security to before they can issue loans, the same way a bank holds security over you when you take a loan. They just loosened some of it, and will probably recall it later. No one actually got any money.

The Great Depression wasn't the fault of the government or the fed, it was mostly a natural occurrence, these things go in cycles. This one isn't really the fault of the fed either, it's mostly the fault of the pandemic, but also it triggered the burst of the bubble that had formed. The fed can make things worse but it's not the main cause and no matter what they did they couldn't stop it, they're in panic mode now. So it's much different from the Great Depression because this one had a specific "external" cause. It's definitely not gonna be Hoover/FDR but with Trump and Bernie because Trump won't be there for long enough and Bernie won't be president lol.

I dont know too much about the topic, and should probably read up about it cause it sounds interesting.
But my gut feeling is that its always the governments fault at some level. And most probably because they where not enacting the controls over trading systems the way they should have.

However, economic theory is always improving, and you cant expect the fed from the 1930's to know what we know today.

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Pezevenk

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Re: Could a Trump/Bernie be a repeat of Hoover/FDR?
« Reply #8 on: March 18, 2020, 06:17:56 AM »
The handling of a crisis may make the crisis worse but it almost never is the cause of the crisis. Liberal governments don't have the control over the economy to outright cause a crisis, these things go in cycles usually and the handling can only make them better or worse.
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Pezevenk

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