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  Topic: 2013 Looks a Lot Like 1937
in Four Fearsome Ways
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2013 Looks a Lot Like 1937
in Four Fearsome Ways

Bloomberg News, by Amity Shlaes

Original Article

Posted By:horacer, 11/19/2012 5:16:40 PM

Will 2013 be 1937? This is the question many analysts are posing as the stock market has dropped after the U.S. election. On Nov. 16, they noted that industrial production, a crucial figure, dropped as well. In this case, “1937” means a market drop similar to the one after the re-election of another Democratic president, Franklin D. Roosevelt, in 1936. The drop wasn’t immediate in that case; it came in the first full year after the election. Industrial production plummeted by 34.5 percent.

Comments:
2013 looks worse.

      


Post Reply  

Reply 1 - Posted by: DWIM, 11/19/2012 5:41:13 PM     (No. 9024261)

A fearsome read, if you´re down in the details. Off the cliff we go, is what I´m coming to a preference as...

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Reply 2 - Posted by: Axeman, 11/19/2012 5:45:42 PM     (No. 9024270)

Forward!

And we never even recovered from fdr.

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R-G1
  
R-VAR_AD


 
Reply 3 - Posted by: bkt23, 11/19/2012 5:47:57 PM     (No. 9024273)

We went over the cliff some time ago, economically speaking.

And we never recovered from Lincoln. Never mind FDR.

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Reply 4 - Posted by: NorthernDog, 11/19/2012 5:50:46 PM     (No. 9024280)

One big difference is that the real rate of unemployment is being hidden today. Tens of millions are now dependent on the wide array of government programs and are effectively ´´out of the workforce´´.

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Reply 5 - Posted by: lakerman1, 11/19/2012 6:06:50 PM     (No. 9024300)

I caught an interesting tidbit last night, when our PBS station ran Ken Burns´ documentary on the drought of the 1930s. FDR and his advisors tried really hard to come up with a way to rescue the farmers and small town people, and FDR told them that no one could figure out what to do. That to tell them otherwise would be dishonest.
But FDR visited the dust bowl, and the next day it rained. The folks there called it Roosevelt rain.
Now let´s see if you people can connect the dots about what I said, to president zero.

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Reply 6 - Posted by: on fire, 11/19/2012 6:56:03 PM     (No. 9024371)

My grandmother was a farmwife who despised FDR and wanted one of her 10 children to someday write a book about him & call it ´The Rape of the American Farmer´. His ideas of subsidies killed many farms & she never let her children forget.

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Reply 7 - Posted by: lanczos, 11/19/2012 7:02:49 PM     (No. 9024383)

1937 will look like a Picnic In The Park compared to 2013.

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Reply 8 - Posted by: reefdiver, 11/19/2012 7:25:26 PM     (No. 9024424)

Grapes of Wrath?

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Reply 9 - Posted by: tukaram, 11/19/2012 8:23:31 PM     (No. 9024490)

2013 will be our 1929. It is all just beginning....

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Reply 10 - Posted by: Jiobaobubai, 11/19/2012 10:05:15 PM     (No. 9024574)

And this time the rising tyrant is in our own country.

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Reply 11 - Posted by: anonymous, 11/19/2012 10:15:44 PM     (No. 9024586)

Intereting parallel in a fascinating article. It describes the fiscal situation in the US and draws on history to warn us what may lie ahead. Only the people have changed - the script remains the same. History is an indispensable teacher.

In Europe, we also have the eerie rumblings of the events of almost a hundred years ago. Think trigger points. When Gavrilo Princip assassinated the heir to Austria´s throne to protest the seizure of Bosnia by the northerners, it propelled Europe into a destructive war that brought it to its knees and ushered in a new world order. I see similar discontent in countries like Spain and Greece where the opposition to the German financial complex is widespread.

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Reply 12 - Posted by: Judith, 11/20/2012 8:05:28 AM     (No. 9024995)

This woman wrote the amazing book, The Forgotten Man. Any stephen king book pales in comparison for getting you scared to death. And Shlaes book is based on fact!

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Reply 13 - Posted by: marthaville, 11/20/2012 9:37:58 AM     (No. 9025232)

You must understand there are still people in our nation that believe FDR got us out of the Great Depression. Of course he did nothing of the sort.

In reality FDR caused the depression to run much longer than it would have if the federal government had left the economy alone. Hopefully it won´t take a world war in 2017 to end the Obama recession.

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