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Obama's Reelection Will Ensure Complete U.S. Economic Collapse

drrisk2 Wrote: Oct 29, 2012 4:52 PM
"Hoover raised taxes and slapped a tariff on imports." Rubbish. The 1929 stock market crash was caused by the reaction to Congress' serious debate on the 50% Smoot-Hawley Tariff. The Great Depression was caused by the Federal Reserve shrinking the money supply by one third. Hoover did not help, but neither did FDR, whose 1932 platform was to "balance the budget". If you don't have a memory or any knowledge, you ought to check the Internet. You will be amazed by what you can learn if you do.
Tacitus X Wrote: Oct 29, 2012 4:59 PM
That may help explain the timing of the crash, but not the cause. After creation of the Federal Reserve Bank in 1913 there was a massive inflationary runup resulting in massive malinvestment. A market correction was inevitable. Normally after a crash there's a recovery, but Hoover and FDR's interventions prevented the recovery and lengthened and deepened the Depression.
This coming presidential election will determine whether the U.S. ends up in another Great Depression or pulls out of the economic slump. There are numerous signs indicating that the country is headed for economic Armageddon under Obama. Some analysts are predicting the crash could come as soon as next year. Obama is following the failed policies of President Herbert Hoover which led to the Great Depression.

Conservative commentator Rush Limbaugh says the U.S. is on an unsustainable course; there isn't enough money from taxes to pay everyone lifetime healthcare, lifetime pensions, and hefty incomes. The federal government now...