Trump to impose new tariffs on steel and aluminum
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- All-American
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Re: Trump to impose new tariffs on steel and aluminum
Apples to apples. After the New Deal was implemented unemployment surpassed the previous high to jump from 6% to around 20%. That is a huge jump and it stayed high until it was abandoned during the war.snoscythe wrote: ↑Mon Mar 05, 2018 11:03 amNot a New Deal proponent in the least, but you can't look at 6% unemployment in an agrarian economy the same way we look at it today with minimum wage and the New Deal programs backing it up.imuakahuku wrote: ↑Mon Mar 05, 2018 7:00 amActually the "New Deal" made the depression "great". Unemployment was already down to 6% months after Black Tuesday.
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Re: Trump to impose new tariffs on steel and aluminum
I don't know where you are getting your numbers from, but here's what I can find:
When FDR took office, the unemployment rate was right around 24%. It ticked up 1% in the first year of his presidency, and then dropped to 14.3% before he reined back on the New Deal spending. It was between 17 and 14% before the draft, and was around 10% before we were pulled into the war by Pearl Harbor.
Year Unemployment Rate (What Happened)
1929 3.2% Market crash
1930 8.7%
1931 15.9% Dust Bowl
1932 23.6% Hoover's tax hikes
1933 24.9% FDR becomes president with his New Deal
1934 21.7%
1935 20.1%
1936 16.9%
1937 14.3% Spending cuts
1938 19.0% FLSA starts min wage
1939 17.2% Drought ended
1940 14.6% U.S. draft
1941 9.9% Pearl Harbor
1942 4.7% Defense tripled
1943 1.9% Germany surrendered
1944 1.2%
1945 1.9% War ends. Min wage $.40
I still disagree that we can compare Great Depression unemployment to the measure we currently use (they keep changing how it is measured and reported, for one), but beyond that, you have oversimplified the history and scope of the Great Depression and FDR's influence on unemployment.
The numbers bear out that during his administration the numbers were headed down after Hoover's failed policies. There's a reason they called the tenement camps "Hoovervilles" and not "Rooseveltvilles".
When FDR took office, the unemployment rate was right around 24%. It ticked up 1% in the first year of his presidency, and then dropped to 14.3% before he reined back on the New Deal spending. It was between 17 and 14% before the draft, and was around 10% before we were pulled into the war by Pearl Harbor.
Year Unemployment Rate (What Happened)
1929 3.2% Market crash
1930 8.7%
1931 15.9% Dust Bowl
1932 23.6% Hoover's tax hikes
1933 24.9% FDR becomes president with his New Deal
1934 21.7%
1935 20.1%
1936 16.9%
1937 14.3% Spending cuts
1938 19.0% FLSA starts min wage
1939 17.2% Drought ended
1940 14.6% U.S. draft
1941 9.9% Pearl Harbor
1942 4.7% Defense tripled
1943 1.9% Germany surrendered
1944 1.2%
1945 1.9% War ends. Min wage $.40
I still disagree that we can compare Great Depression unemployment to the measure we currently use (they keep changing how it is measured and reported, for one), but beyond that, you have oversimplified the history and scope of the Great Depression and FDR's influence on unemployment.
The numbers bear out that during his administration the numbers were headed down after Hoover's failed policies. There's a reason they called the tenement camps "Hoovervilles" and not "Rooseveltvilles".
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Re: Trump to impose new tariffs on steel and aluminum
So you are saying we should avoid land wars in Asia AND global trade wars?
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Re: Trump to impose new tariffs on steel and aluminum
And let’s not forget interstellar trade wars. It cost the empire three Death Stars!
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Re: Trump to impose new tariffs on steel and aluminum
Cohn resigned from the White House. Dow futures overnight are down 330 points.
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Re: Trump to impose new tariffs on steel and aluminum
Take heart, the market opened about 20 min ago and the Dow is down 150 points. A lot better than 330 eh? The market will survive Cohn's resignation I suspect.
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Re: Trump to impose new tariffs on steel and aluminum
Dow now down 325 points. Not Death Star worthy yet, but the day is young. Where’s Obii Wan when we need him?
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Re: Trump to impose new tariffs on steel and aluminum
Sorry to disappoint all you Trump haters wishing for the worst.
The market clawed back and the Dow closed down .33%, -83 points.
The S&P 500 closed down .05%, -1.32 points.
The NASDAQ was up 24 points, +.33%.
The market clawed back and the Dow closed down .33%, -83 points.
The S&P 500 closed down .05%, -1.32 points.
The NASDAQ was up 24 points, +.33%.