Showing posts with label Hoover. Show all posts
Showing posts with label Hoover. Show all posts
Wednesday, November 7, 2012
We Won!
Thank you all for your support of the Hoover-Carter 2012 team throughout this campaign! We look forward to leading America through the next four years of disastrous foreign policy and crippling economic stagnation. We couldn't have done it without all the voters who stayed home. Your apathy was the key to our narrow victory, and for that we thank you!
Friday, December 23, 2011
Romney: Obama's 8 percent jobless rate falls short
By Steve Holland at The Chicago Tribune
"He now seems to think that 8 percent unemployment would be a great achievement. I'm sorry, 8 percent is an excessive number for unemployment in this country and returning to 8 percent does not suggest a highly successful presidency," Romney told Reuters in an interview aboard his campaign bus as it rolled through New Hampshire.
"This has been the longest recovery from recession that we've seen since (Depression-era President Herbert) Hoover and he has failed to get Americans back to work," he said.
Read more...
"He now seems to think that 8 percent unemployment would be a great achievement. I'm sorry, 8 percent is an excessive number for unemployment in this country and returning to 8 percent does not suggest a highly successful presidency," Romney told Reuters in an interview aboard his campaign bus as it rolled through New Hampshire.
"This has been the longest recovery from recession that we've seen since (Depression-era President Herbert) Hoover and he has failed to get Americans back to work," he said.
Read more...
Tuesday, December 20, 2011
A Very Beatable President
By Jay Cost at The Weekly Standard
Team Obama will basically make the same case: The Republican program is at its core radical and anti-American. Will it work for them? The best way to answer this question is with another question: Did it work for Hoover?
The Obama strategy as it has developed is insufficient to produce reelection. The president is going to need assistance, either from more robust growth or a fumble by the Republicans. Bad demographic math, phony activism, and Hooveresque demagoguery is not enough to win.
Read more...
Team Obama will basically make the same case: The Republican program is at its core radical and anti-American. Will it work for them? The best way to answer this question is with another question: Did it work for Hoover?
The Obama strategy as it has developed is insufficient to produce reelection. The president is going to need assistance, either from more robust growth or a fumble by the Republicans. Bad demographic math, phony activism, and Hooveresque demagoguery is not enough to win.
Read more...
Friday, December 16, 2011
Candidates Stake Iowa Debate on Electability, Leadership
By FoxNews.com
But if electability had been the question for primary candidates in 1979, Ronald Reagan would have never become president, Newt Gingrich argued Thursday, saying that his debating skills against President Obama will outshine any earlier fouls he has made.
Reagan beat Jimmy Carter by a larger margin than Franklin Delano Roosevelt beat Herbert Hoover in 1932, Gingrich, a longtime history professor, said, completing his comparison.
Read more...
But if electability had been the question for primary candidates in 1979, Ronald Reagan would have never become president, Newt Gingrich argued Thursday, saying that his debating skills against President Obama will outshine any earlier fouls he has made.
Reagan beat Jimmy Carter by a larger margin than Franklin Delano Roosevelt beat Herbert Hoover in 1932, Gingrich, a longtime history professor, said, completing his comparison.
Read more...
Tuesday, December 13, 2011
Romney Out in Front
By Carl Thomas at The Chicago Tribune
"The president has been in office three years and his record is entirely fair game. I think the American people know his record is the worst we've seen since (Herbert) Hoover. I will be relentless in reminding Americans that (Obama) promised to hold unemployment below 8 percent, if we let him borrow $1 trillion. He did the borrowing, but unemployment has not been below 8 percent."
Read more...
"The president has been in office three years and his record is entirely fair game. I think the American people know his record is the worst we've seen since (Herbert) Hoover. I will be relentless in reminding Americans that (Obama) promised to hold unemployment below 8 percent, if we let him borrow $1 trillion. He did the borrowing, but unemployment has not been below 8 percent."
Read more...
Monday, December 12, 2011
Craving Another Great Depression
By Ralph R. Reiland at The American Spectator
"From 1929 to 1940, from Hoover to Roosevelt, government intervention helped make the Depression Great," writes Amity Shlaes in The Forgotten Man: A New History of the Great Depression. "The trouble, however, was not merely the new policies that were implemented but also the threat of additional, unknown, policies. Fear froze the economy, but that uncertainty itself might have a cost was something the young experimenters simply did not consider."
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"From 1929 to 1940, from Hoover to Roosevelt, government intervention helped make the Depression Great," writes Amity Shlaes in The Forgotten Man: A New History of the Great Depression. "The trouble, however, was not merely the new policies that were implemented but also the threat of additional, unknown, policies. Fear froze the economy, but that uncertainty itself might have a cost was something the young experimenters simply did not consider."
Read more...
Tuesday, December 6, 2011
The true costs of Keynes
By Martin Hutchinson at Asia Times Online
Those costs are considerable. In the 1930s, US president Herbert Hoover's reckless expansion of government spending, including loans to cronies through the Reconstruction Finance Corporation, caused further slowdown in the economy, which was exacerbated by his dreadful early 1932 increase in the top marginal rate of tax from 25% to 63%.
In the recent unpleasantness, fiscal stimulus worldwide initially appeared merely ineffective. By diverting resources from the productive private sector to unproductive public sector boondoggles it reduced long-term output. In the US case, the Barack Obama stimulus converted a vigorous recovery into an anemic one; only in the third quarter of 2011, after the effects of stimulus had begun to wear off, did output begin to accelerate and unemployment trend down (in this case we should celebrate public sector job losses and declines in public sector output, since they free up resources for healthy private sector growth!).
However, with the euro crisis it has become clear that fiscal stimulus, if excessive, has an exponentially adverse effect. By increasing deficits to unsustainable levels, it precipitates bond market fears about the state's credit risk. Naturally, that strangles credit availability to almost all entities domiciled in the country concerned.
Read more...
Those costs are considerable. In the 1930s, US president Herbert Hoover's reckless expansion of government spending, including loans to cronies through the Reconstruction Finance Corporation, caused further slowdown in the economy, which was exacerbated by his dreadful early 1932 increase in the top marginal rate of tax from 25% to 63%.
In the recent unpleasantness, fiscal stimulus worldwide initially appeared merely ineffective. By diverting resources from the productive private sector to unproductive public sector boondoggles it reduced long-term output. In the US case, the Barack Obama stimulus converted a vigorous recovery into an anemic one; only in the third quarter of 2011, after the effects of stimulus had begun to wear off, did output begin to accelerate and unemployment trend down (in this case we should celebrate public sector job losses and declines in public sector output, since they free up resources for healthy private sector growth!).
However, with the euro crisis it has become clear that fiscal stimulus, if excessive, has an exponentially adverse effect. By increasing deficits to unsustainable levels, it precipitates bond market fears about the state's credit risk. Naturally, that strangles credit availability to almost all entities domiciled in the country concerned.
Read more...
Thursday, December 1, 2011
'They Don't Need Our Votes'
By James Taranto at The Wall Street Journal
We're not saying any of these eventualities are likely, or that they would necessarily help Obama. (Jimmy Carter had an international crisis, an "extreme" challenger, and a third-party GOP candidate, and he lost badly anyway.) But a necessary condition for an Obama victory is that his own party not throw in the towel months before the election.
Read more...
We're not saying any of these eventualities are likely, or that they would necessarily help Obama. (Jimmy Carter had an international crisis, an "extreme" challenger, and a third-party GOP candidate, and he lost badly anyway.) But a necessary condition for an Obama victory is that his own party not throw in the towel months before the election.
Read more...
Friday, November 25, 2011
Dow, S&P Log Worst Thanksgiving Week Since 1932
By JeeYeon Park at CNBC.com
Stocks closed in negative territory in thin, shortened trading Friday as investors were reluctant to go long ahead of the weekend and amid ongoing worries over the euro zone.
The Dow and S&P posted their worst Thanksgiving week since the Great Depression on a percentage basis.
Read more...
Stocks closed in negative territory in thin, shortened trading Friday as investors were reluctant to go long ahead of the weekend and amid ongoing worries over the euro zone.
The Dow and S&P posted their worst Thanksgiving week since the Great Depression on a percentage basis.
Read more...
Wednesday, November 23, 2011
Obama Peddles Myths About the Great Depression: No, Hoover Didn’t Cut Taxes or Spending
By Hans Bader at OpenMarket.org
Herbert Hoover increased marginal tax rates on the wealthy to 63 percent, and more than doubled government spending as a percentage of the economy. But in his political speeches, President Obama continues to falsely claim that Hoover gave “tax cuts” to the rich and slashed the government to promote “trickle-down economics.”
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Herbert Hoover increased marginal tax rates on the wealthy to 63 percent, and more than doubled government spending as a percentage of the economy. But in his political speeches, President Obama continues to falsely claim that Hoover gave “tax cuts” to the rich and slashed the government to promote “trickle-down economics.”
Read more...
Monday, November 21, 2011
State lawmakers need to deal with grim budget realities
Editorial from the Lower Columbia Daily News
Herbert Hoover, the only U.S. President with any real credentials as an "economist," was looking for a theme for his 1932 re-election campaign and made the notably unwise choice of "Prosperity is just around the corner."
It was quite some time before that corner was turned and the country turned it without Hoover, who was crushed at the polls by Franklin Roosevelt in November. It would be 20 more years before voters put another Republican in the White House.
Read more...
Herbert Hoover, the only U.S. President with any real credentials as an "economist," was looking for a theme for his 1932 re-election campaign and made the notably unwise choice of "Prosperity is just around the corner."
It was quite some time before that corner was turned and the country turned it without Hoover, who was crushed at the polls by Franklin Roosevelt in November. It would be 20 more years before voters put another Republican in the White House.
Read more...
Friday, November 18, 2011
Rage and remediation no way to run a country
By Chris Powell at The Journal-Inquirer
With President Obama rehabilitating Herbert Hoover, all the Republican Party has to do to win the next presidential election is nominate someone halfway sane. But most candidates for the Republican nomination seem to be wooing people mad with rage.
Distress about the country's decline is certainly the prerequisite for change. But while rage may win a party primary, an election is something else, and many distressed voters may be only more distressed the more they see of the Republican candidates.
Read more...
With President Obama rehabilitating Herbert Hoover, all the Republican Party has to do to win the next presidential election is nominate someone halfway sane. But most candidates for the Republican nomination seem to be wooing people mad with rage.
Distress about the country's decline is certainly the prerequisite for change. But while rage may win a party primary, an election is something else, and many distressed voters may be only more distressed the more they see of the Republican candidates.
Read more...
Thursday, November 17, 2011
Protests That Worked
By Michael Lind at The New York Times
On July 28, 1932, at the command of President Herbert Hoover, police and soldiers led by Gen. Douglas MacArthur attacked and destroyed the camp of the Bonus Army, a group of thousands of World War I veterans and their families and allies who had spent the spring and summer protesting the unemployment created by the Great Depression. The violence, in which two veterans were killed and dozens of people were injured, shocked the American public and helped to ensure the victory of Franklin D. Roosevelt over Hoover in that fall’s presidential election.
Read more...
On July 28, 1932, at the command of President Herbert Hoover, police and soldiers led by Gen. Douglas MacArthur attacked and destroyed the camp of the Bonus Army, a group of thousands of World War I veterans and their families and allies who had spent the spring and summer protesting the unemployment created by the Great Depression. The violence, in which two veterans were killed and dozens of people were injured, shocked the American public and helped to ensure the victory of Franklin D. Roosevelt over Hoover in that fall’s presidential election.
Read more...
This Week in the Great Depression: Echoes
By Philip Scranton at Bloomberg
President Herbert Hoover, meanwhile, was trying to "step in at the eleventh hour to avert disaster," this time a renewed decline in stock values. As the attached graphic shows, the Dow charted a ragged slide -- peaks and valleys that slumped from 381 to 86 by late 1931, and to less than half that by mid-1932. Hoover called for an international agreement to defer payments on war debts and reparations, which he hoped would stop the downward momentum.
Read more...
President Herbert Hoover, meanwhile, was trying to "step in at the eleventh hour to avert disaster," this time a renewed decline in stock values. As the attached graphic shows, the Dow charted a ragged slide -- peaks and valleys that slumped from 381 to 86 by late 1931, and to less than half that by mid-1932. Hoover called for an international agreement to defer payments on war debts and reparations, which he hoped would stop the downward momentum.
Read more...
Tuesday, November 15, 2011
Occupy WS = Hoovervilles?
Via Aaron Goldstein at the American Spectator
The Los Angeles Times makes the case that Occupy Wall Street and its sister movements around the country are modern day Hoovervilles:
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The Los Angeles Times makes the case that Occupy Wall Street and its sister movements around the country are modern day Hoovervilles:
The Occupy sites that sprouted up in recent months in response to the poor economy resemble the Great Depression's so-called Hoovervilles, shanty villages inhabited by a newly created class of poor people.
Named for Republican President Herbert Hoover, who was thrown out of office after one term because of his failed policies in dealing with the Depression, the Hoovervilles ultimately helped shape the New Deal and the vision of a liberal state that would provide an economic safety net.
Read more...
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