FDR was willing to try & do anything to get out of that mess, that began on Wall Street. 1932-33 was the bottom, things got better after that.
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I agree. With 20-20 hindsight the actions of FDR can be studied and evaluated. Those not willing to learn from the past are doomed to repeat history's mistakes. And so we shall with current and and new administration.
1932-1933 was the bottem and then things picked up - until 1937. At that point much of the world was coming out the depression but the US was plunged into a "second dip" with increasing unemployment and declining economic output. This coincided with FDR's second term, new taxes (to pay for SSA), implimentation of the National Relations Act and higher business taxes.
As the state sector drained the private sector, controlling it in alarming detail, the economy continued to wallow in depression. The combined impact of Herbert Hoover’s and Roosevelt’s interventions meant that the market was never allowed to correct itself. Far from having gotten us out of the Depression, FDR prolonged and deepened it, and brought unnecessary suffering to millions.
The goofiest tactic had to do with the price of gold. Starting with the bank holiday and proceeding through a massive gold-buying program, Roosevelt abandoned the gold standard, the bedrock restraint on inflation and government growth. He nationalized the monetary gold stock, forbade the private ownership of gold (except for jewelry, scientific or industrial uses, and foreign payments), and nullified all contractual promises—whether public or private, past or future—to pay in gold.
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Today's Featured Article - The Nuts and Bolts of Fasteners - Part 2 - by Curtis Von Fange. In our previous article we discussed capscrews, bolts, and nuts along with their relative hardness and thread sizes. In this segment we will finish up on our fasteners and then work with ways to keep them from loosening up in the field. Capscrews, bolts and nuts are not the only means of holding two parts together. When dealing with thinner metals like sheet tin, a long bolt and
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