Trump to impose new tariffs on steel and aluminum

[imuakahuku]

Actually the "New Deal" made the depression "great". Unemployment was already down to 6% months after Black Tuesday.

Not 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.

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]

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".

[hawkwing]

There are no good global trade wars.

[BoiseBYU]

There are no good global trade wars.

So you are saying we should avoid land wars in Asia AND global trade wars?

[hawkwing]

There are no good global trade wars.

So you are saying we should avoid land wars in Asia AND global trade wars?

Inconceivable!

[BoiseBYU]

There are no good global trade wars.

So you are saying we should avoid land wars in Asia AND global trade wars?

Inconceivable!

And let’s not forget interstellar trade wars. It cost the empire three Death Stars!

[scott715]

Cohn resigned from the White House. Dow futures overnight are down 330 points.

[Ddawg]

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.

[BoiseBYU]

Cohn resigned from the White House. Dow futures overnight are down 330 points.

Dow now down 325 points. Not Death Star worthy yet, but the day is young. Where’s Obii Wan when we need him?

[Ddawg]

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%.