wrote in message
...
On Mon, 14 Jun 2010 11:39:53 -0700, "nom=de=plume"
wrote:


wrote in message
. ..
On Sun, 13 Jun 2010 15:07:32 -0700, "nom=de=plume"
wrote:

Unemployment before WW2 under FDR went from 25% to 10%. That's pretty
amazing. WW2 certainly ended the depression finally and completely,
but
the
US depression had little to do with Hitler. He came into power because
the
European powers after WW2 were obscenely harsh with Germany. That
caused
a
terrible depression and runaway inflation in Germany, which gave rise
to
the
extremist movement.


I don't know where you got that number for unemployment but the double
dip hit in 1938 At worst it was 23%, after the New Deal started and in
the double dip was back up to 18. We were well intro WWII before it
got to 10%.
http://upload.wikimedia.org/wikipedi..._1890-2009.gif

From 23% to 13% then back up a few percentage points, then back down
PRIOR
to 1942 when we entered the war.


It started going under 16% when we started lend lease, before we were
officially in the war.

Again. Hitler was a German response to the depression (he rose to

NOT OUR DEPRESSION. Germany's depression. Our depression didn't cause
his
rise to power. That depression started long before 1933.

The Germans crashed at the same time we did., They had a borrow and
spend economy in the 20s and the illusion of prosperity. It was when
the US (and other democracies) got hungry in 1929 and called the
German debt that they crashed. If anything that should be a harbinger
for us.
One opinion
http://www.history.ucsb.edu/faculty/...0s/Econ20s.htm
I do find it interesting that this author says it was not about debt,
and then goes on to describe the deficit spending that caused the
collapse.
Hitler came up out of that crash.



As I said, from the first paragraph:

"Germany was economically devastated after a draining defeat in World War
I.
Due to the Versailles treaty, Germany was forced to pay incredibly
sizeable
reparations to France and Great Britain. In addition, the Versailles
treaty,
which many agreed was far too harsh, forced Germany to give up thirteen
percent of its land."



... but they used the same borrow and spend solution we are using to
prop up their economy. It worked as long as they could sell their
paper. When they could find no more buyers, their money became
worthless.

But they had completely different underlying problems. We have the most
open, vibrant economy in the world. That's not going to change any time
soon.