Discussion:
Right Wing Fascist Republican Warren Harding Caused The Great Depression - Another Republican Who Destroyed The Economy And Killed Thousands With His Greed
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Crap Detector
2009-10-14 02:06:39 UTC
Permalink
Most rightists are ignorant, unschooled buffoons who have never studied history
and are influenced by lies and fascist propaganda.


Throughout the 1920?s, new industries and new methods of production led to
prosperity in America. America was able to use its great supply of raw materials
to produce steel, chemicals, glass, and machinery that became the foundation of
an enormous boom in consumer goods (Samuelson, 2). Many US citizens invested on
the stock market, speculating to make a quick profit. This great prosperity
ended in October 1929. People began to fear that the boom was going to end, the
stock market crashed, the economy collapsed and the United States entered a long
depression.

The Great Depression of the thirties remains the most important economic event
in American history. It caused enormous hardship for tens of millions of people
and the failure of a large fraction of the nation?s banks, businesses, and
farms. The stock market crash in October 1929 is believed to be the immediate
cause of the Great Depression, but there were many other factors and long-term
causes that developed in the years prior to the depression.

The 1920?s may have been prosperous for some Americans, but the growing
prosperity was actually weakening the economy. Many US citizens were never
participating in the boom from the start. There were some wealthy individuals,
but 60% of people were living below the poverty line. The coal mining industry
had expanded greatly, creating many jobs, but with the introduction of oil and
gas, the production of coal was decreased along with the amount of jobs. The
United Mine Workers Union?s membership fell from 500,000 in 1920 to 75,000 in
1928 (Temin, 33). The cotton industry experienced similar unemployment problems.
In the agricultural industry, an increase in production was met with a decrease
in demand, so farmers also became unemployed. The American farms and factories
produced large amounts of goods and products during the prosperity before the
Depression.




On average, people?s wages stayed the same even as prices for these goods
soared. The factories and farms still continued to produce at the same rate, but
demand for their products was decreasing. As a result, more and more workers
became unemployed, until 25% of the population was out of work. The American
Federation of Labor fell from 5.1 million in 1920 to 3.4 million in 1929 (Temin,
68). All of these groups, being poorer than the rest of the country, could not
afford to participate in the boom of the 1920?s. There was a major unequal
distribution of income that led to the richest 1% of Americans owning
approximately 40% of the country?s wealth (Matthews, 2). The country entered the
1920?s with Warren G. Harding as president. Harding was a Republican as well as
a laissez-faire capitalist who advocated policies which reduced taxes and
regulation, allowed monopolies to form, and allowed the inequality of wealth and
income to reach record levels (Tanner, 3). Harding died in 1923 and Calvin
Coolidge continued Harding?s policies of minimal government intervention in the
economy and in business. Under Coolidge, the stock market began its ?artificial”
five year rise, the top tax rate was lowered to 25%, and the Supreme Court made
an important ruling which further limited government control over monopolies
(Tanner, 8).



Upon winning the election, Harding appointed many of his old allies to prominent
political positions. Known as the "Ohio Gang" (a term used by Charles Mee, Jr.,
in his book of the same name), some of the appointees used their new powers to
rob the government. It is unclear how much, if anything, Harding himself knew
about his friends' illicit activities.

The most infamous scandal of the time was the Teapot Dome affair, which shook
the nation for years after Harding's death. The scandal involved Secretary of
the Interior Albert B. Fall, who was convicted of accepting bribes and illegal
no-interest personal loans in exchange for the leasing of public oil fields to
business associates. (Absent the bribes and personal loans, the leases
themselves were quite legal.) In 1931, Fall became the first member of a
Presidential Cabinet to be sent to prison.[14]

Thomas W. Miller, head of the Office of Alien Property, was convicted of
accepting bribes. Jess Smith, personal aide to the Attorney General, destroyed
papers and then committed suicide. Charles R. Forbes, Director of the Veterans
Bureau, skimmed profits, earned large amounts of kickbacks, and directed
underground alcohol and drug distribution. He was convicted of fraud and bribery
and drew a two-year sentence. Charles Cramer, an aide to Charles Forbes,
committed suicide.

No evidence to date suggests that Harding personally profited from these crimes,
but he was apparently unable to stop them. "I have no trouble with my enemies,"
Harding told journalist William Allen White late in his presidency, "but my damn
friends, they're the ones that keep me walking the floor nights!"[15]

Historian Wyn Craig Wade, in his 1987 book The Fiery Cross, suggests that
Harding had ties with the Ku Klux Klan, perhaps even having been inducted into
the organization in a private White House ceremony.
Sunny Malone
2009-10-14 02:39:47 UTC
Permalink
Post by Crap Detector
Most rightists are ignorant, unschooled buffoons who have never studied history
and are influenced by lies and fascist propaganda.  
Throughout the 1920?s, new industries and new methods of production led to
prosperity in America. America was able to use its great supply of raw materials
to produce steel, chemicals, glass, and machinery that became the foundation of
an enormous boom in consumer goods (Samuelson, 2). Many US citizens invested on
the stock market, speculating to make a quick profit. This great prosperity
ended in October 1929. People began to fear that the boom was going to end, the
stock market crashed, the economy collapsed and the United States entered a long
depression.
The Great Depression of the thirties remains the most important economic event
in American history. It caused enormous hardship for tens of millions of people
and the failure of a large fraction of the nation?s banks, businesses, and
farms. The stock market crash in October 1929 is believed to be the immediate
cause of the Great Depression, but there were many other factors and long-term
causes that developed in the years prior to the depression.
The 1920?s may have been prosperous for some Americans, but the growing
prosperity was actually weakening the economy. Many US citizens were never
participating in the boom from the start. There were some wealthy individuals,
but 60% of people were living below the poverty line. The coal mining industry
had expanded greatly, creating many jobs, but with the introduction of oil and
gas, the production of coal was decreased along with the amount of jobs. The
United Mine Workers Union?s membership fell from 500,000 in 1920 to 75,000 in
1928 (Temin, 33). The cotton industry experienced similar unemployment problems.
In the agricultural industry, an increase in production was met with a decrease
in demand, so farmers also became unemployed. The American farms and factories
produced large amounts of goods and products during the prosperity before the
Depression.
 On average, people?s wages stayed the same even as prices for these goods
soared. The factories and farms still continued to produce at the same rate, but
demand for their products was decreasing. As a result, more and more workers
became unemployed, until 25% of the population was out of work. The American
Federation of Labor fell from 5.1 million in 1920 to 3.4 million in 1929 (Temin,
68). All of these groups, being poorer than the rest of the country, could not
afford to participate in the boom of the 1920?s. There was a major unequal
distribution of income that led to the richest 1% of Americans owning
approximately 40% of the country?s wealth (Matthews, 2). The country entered the
1920?s with Warren G. Harding as president. Harding was a Republican as well as
a laissez-faire capitalist who advocated policies which reduced taxes and
regulation, allowed monopolies to form, and allowed the inequality of wealth and
income to reach record levels (Tanner, 3). Harding died in 1923 and Calvin
Coolidge continued Harding?s policies of minimal government intervention in the
economy and in business. Under Coolidge, the stock market began its ?artificialµ
five year rise, the top tax rate was lowered to 25%, and the Supreme Court made
an important ruling which further limited government control over monopolies
(Tanner, 8).
Upon winning the election, Harding appointed many of his old allies to prominent
political positions. Known as the "Ohio Gang" (a term used by Charles Mee, Jr.,
in his book of the same name), some of the appointees used their new powers to
rob the government. It is unclear how much, if anything, Harding himself knew
about his friends' illicit activities.
The most infamous scandal of the time was the Teapot Dome affair, which shook
the nation for years after Harding's death. The scandal involved Secretary of
the Interior Albert B. Fall, who was convicted of accepting bribes and illegal
no-interest personal loans in exchange for the leasing of public oil fields to
business associates. (Absent the bribes and personal loans, the leases
themselves were quite legal.) In 1931, Fall became the first member of a
Presidential Cabinet to be sent to prison.[14]
Thomas W. Miller, head of the Office of Alien Property, was convicted of
accepting bribes. Jess Smith, personal aide to the Attorney General, destroyed
papers and then committed suicide. Charles R. Forbes, Director of the Veterans
Bureau, skimmed profits, earned large amounts of kickbacks, and directed
underground alcohol and drug distribution. He was convicted of fraud and bribery
and drew a two-year sentence. Charles Cramer, an aide to Charles Forbes,
committed suicide.
No evidence to date suggests that Harding personally profited from these crimes,
but he was apparently unable to stop them. "I have no trouble with my enemies,"
Harding told journalist William Allen White late in his presidency, "but my damn
friends, they're the ones that keep me walking the floor nights!"[15]
Historian Wyn Craig Wade, in his 1987 book The Fiery Cross, suggests that
Harding had ties with the Ku Klux Klan, perhaps even having been inducted into
the organization in a private White House ceremony.
Ah, another truthful post from the REAL Crap Detector. You should know
that there's a fraud with your name running around posting right-wing
garbage in another thread claiming that Harding was the greatest ever
US President. Don't worry though, we know that fraud posting as Crap
Detector is a fake, since the real you would never believe such
revisionist right-wing nonsense about the 1920s bubble economy (which
soon predictably deflated in 1929).
serebel
2009-10-14 02:49:02 UTC
Permalink
Looks like you two losers are stuck in the early 1900's. Is this what
they call "retro whining"?
klunk
2009-10-14 22:43:53 UTC
Permalink
Post by serebel
Looks like you two losers are stuck in the early 1900's. Is this what
they call "retro whining"?
"those who do not know history are doomed to repeat it"...
Harold Burton
2009-10-15 02:06:30 UTC
Permalink
Post by klunk
Post by serebel
Looks like you two losers are stuck in the early 1900's. Is this what
they call "retro whining"?
"those who do not know history are doomed to repeat it"...
And BO is doing just that.


snicker.
Roy
2009-10-15 02:22:49 UTC
Permalink
Post by Harold Burton
Post by klunk
Post by serebel
Looks like you two losers are stuck in the early 1900's. Is this what
they call "retro whining"?
"those who do not know history are doomed to repeat it"...
And BO is doing just that.
snicker.
You keep eatin' them thar snicker bars don't cha...I can tell.
==
Harold Burton
2009-10-16 02:05:05 UTC
Permalink
In article
Post by Harold Burton
Post by klunk
Post by serebel
Looks like you two losers are stuck in the early 1900's. Is this what
they call "retro whining"?
"those who do not know history are doomed to repeat it"...
And BO is doing just that.
snicker.
You keep eatin' them thar snicker (sic) bars don't cha...I can tell.
Snicker.

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