Back in the 1930s, FDR threw trillions of dollars (adjusted for inflation) at a similar crisis
By Daniel at 18 February, 2009, 12:26 am
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“But in the Great Depression, 15 million people still lost their jobs — and the crisis only ended ten long years later when 12 million Americans got new jobs — fighting Adolph Hitler and Hideki Tojo.
In the 1990s, Japan’s leaders threw trillions at their real estate crisis, credit collapse and deep recession …
But the crisis crushed their stock market for nearly TWO DECADES, strangling their economy, and culminating in last quarter’s catastrophic 12.7% plunge in GDP.
Just in the last two years, the Bush administration threw trillions at the recession and at failing banks …
But today, despite that spending spree, 15 million Americans are now unemployed — and another 600,000 or more are losing their paychecks every month!
And it looks like we’re going to have to pay an even steeper price for THIS year’s failed packages by the Obama administration.
NO WONDER global investors are recoiling in disgust!
The ultimate futility of Obama’s efforts — and the danger that they could backfire much like similar actions in the past — is reverberating all over the globe.
That’s the main reason investors are voting “no” on the stimulus … running for cover … dumping stocks like crazy … and stampeding into crisis hedges like U.S. Treasury securities and gold.
That’s why every major stock market in Asia has plunged since Friday; why all 11 major European stock markets have cratered in unison; and why gold is going through the roof…”-Martin D. Weiss-
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