The 'free marketplace' was a cesspool of fraud and theft during the GOP controlled 20's .... FDR instituted a number of protections against securities fraud, banking fraud, strengthened labor unions and work rules, and Social Security has been one of the most successful government programs for working citizens EVER established .....
The New Deal was successful beyond their wildest dreams ....
From Liberalism Resurgent:
http://www.huppi.com/kangaroo/Timeline.htmTIMELINES OF THE GREAT DEPRESSION:This page features two timelines: the first for general events of the Roaring 20s and the Great Depression, the second for leading economic indicators.
The importance of these timelines cannot be emphasized enough. Seeing the order in which events actually occurred dispels many myths about the Great Depression. One of the greatest of these myths is that government intervention was responsible for its onset. Truly massive intervention began only under the presidency of Franklin Roosevelt in 1933, who was sworn in after the worst had already hit. Although his New Deal did not cure it, all the leading economic indicators improved on his watch.
But don't take my word for it -- here is the raw data:
TIMELINE OF GENERAL EVENTS
1920s (Decade)
* During World War I, federal spending grows three times larger than tax collections. When the government cuts back spending to balance the budget in 1920, a severe recession results. However, the war economy invested heavily in the manufacturing sector, and the next decade will see an explosion of productivity... although only for certain sectors of the economy.
* An average of 600 banks fail each year.
* Agricultural, energy and coal mining sectors are continually depressed. Textiles, shoes, shipbuilding and railroads continually decline.
* The value of farmland falls 30 to 40 percent between 1920 and 1929.
* Organized labor declines throughout the decade. The United Mine Workers Union will see its membership fall from 500,000 in 1920 to 75,000 in 1928. The American Federation of Labor would fall from 5.1 million in 1920 to 3.4 million in 1929.
* "Technological unemployment" enters the nation's vocabulary; as many as 200,000 workers a year are replaced by automatic or semi-automatic machinery.
* Over the decade, about 1,200 mergers will swallow up more than 6,000 previously independent companies; by 1929, only 200 corporations will control over half of all American industry.
* By the end of the decade, the bottom 80 percent of all income-earners will be removed from the tax rolls completely. Taxes on the rich will fall throughout the decade.
* By 1929, the richest 1 percent will own 40 percent of the nation's wealth. The bottom 93 percent will have experienced a 4 percent drop in real disposable per-capita income between 1923 and 1929.
* The middle class comprises only 15 to 20 percent of all Americans.
* Individual worker productivity rises an astonishing 43 percent from 1919 to 1929. But the rewards are being funneled to the top: the number of people reporting half-million dollar incomes grows from 156 to 1,489 between 1920 and 1929, a phenomenal rise compared to other decades. But that is still less than 1 percent of all income-earners.
1922
* The conservative Supreme Court strikes down federal child labor legislation.
-snip-
Our nation, it's markets, and more importantly, it's citizens, were saved by FDR and the New Deal ....
FDR and the New Deal werent perfect, but they were certainly BETTER than the results unbridled, unrestricted capitalism brought to the masses .....
Ask your instructer to tell you of any time in history when so many common citizens enjoyed the benefits of a middle class existence, as we have for the last 50 years, where conservatives ruled the marketplace with laissez faire economic policies ...
Have him mention ANY such time and place in history when so many have gained so much .....
It is also interesting to note that MANY future corporatists became filthy rich from the spending of that middle class .... which may have never happened under the former GOP regime ....
....................
No wonder they wanted to overthrow FDR and install a fascist government ....
http://www.huppi.com/kangaroo/Coup.htmTHE BUSINESS PLOT TO OVERTHROW ROOSEVELTIn the summer of 1933, shortly after Roosevelt's "First 100 Days," America's richest businessmen were in a panic. It was clear that Roosevelt intended to conduct a massive redistribution of wealth from the rich to the poor. Roosevelt had to be stopped at all costs.
The answer was a military coup. It was to be secretly financed and organized by leading officers of the Morgan and Du Pont empires. This included some of America's richest and most famous names of the time:
* Irenee Du Pont - Right-wing chemical industrialist and founder of the American Liberty League, the organization assigned to execute the plot.
* Grayson Murphy - Director of Goodyear, Bethlehem Steel and a group of J.P. Morgan banks.
* William Doyle - Former state commander of the American Legion and a central plotter of the coup.
* John Davis - Former Democratic presidential candidate and a senior attorney for J.P. Morgan.
* Al Smith - Roosevelt's bitter political foe from New York. Smith was a former governor of New York and a codirector of the American Liberty League.
* John J. Raskob - A high-ranking Du Pont officer and a former chairman of the Democratic Party. In later decades, Raskob would become a "Knight of Malta," a Roman Catholic Religious Order with a high percentage of CIA spies, including CIA Directors William Casey, William Colby and John McCone.
* Robert Clark - One of Wall Street's richest bankers and stockbrokers.
* Gerald MacGuire - Bond salesman for Clark, and a former commander of the Connecticut American Legion. MacGuire was the key recruiter to General Butler.
The plotters attempted to recruit General Smedley Butler to lead the coup. They selected him because he was a war hero who was popular with the troops. The plotters felt his good reputation was important to make the troops feel confident that they were doing the right thing by overthrowing a democratically elected president. However, this was a mistake: Butler was popular with the troops because he identified with them. That is, he was a man of the people, not the elite. When the plotters approached General Butler with their proposal to lead the coup, he pretended to go along with the plan at first, secretly deciding to betray it to Congress at the right moment.
What the businessmen proposed was dramatic: they wanted General Butler to deliver an ultimatum to Roosevelt. Roosevelt would pretend to become sick and incapacitated from his polio, and allow a newly created cabinet officer, a "Secretary of General Affairs," to run things in his stead. The secretary, of course, would be carrying out the orders of Wall Street. If Roosevelt refused, then General Butler would force him out with an army of 500,000 war veterans from the American Legion. But MacGuire assured Butler the cover story would work:
"You know the American people will swallow that. We have got the newspapers. We will start a campaign that the President's health is failing. Everyone can tell that by looking at him, and the dumb American people will fall for it in a second…"
The businessmen also promised that money was no object: Clark told Butler that he would spend half his $60 million fortune to save the other half.
And what type of government would replace Roosevelt's New Deal? MacGuire was perfectly candid to Paul French, a reporter friend of General Butler's:
"We need a fascist government in this country… to save the nation from the communists who want to tear it down and wreck all that we have built in America. The only men who have the patriotism to do it are the soldiers, and Smedley Butler is the ideal leader. He could organize a million men overnight."
-snip-
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