In response to:

Shiller Backs Away From 'Late Great Depression' Remark

RuleTopia Wrote: May 03, 2012 4:04 AM
So high levels of spending in World War II got us out of debt? It didn't work from 1929 to 1942. But double down on the lunacy because of the necessities of War and that will do it? How did it work out for the Soviet Union? Maybe what happened is that after the war, Americans just wanted to get jobs, get married, buy houses, and have families, and forget the deprivations of the last 16 years. Let's not forget that the same Keynesian were arguing at the end of World War II for a continuation of government spending, which had reach 44 percent of GDP during the war. Instead, Truman cut spending to 12 percent of GDP by 1947 and America had a boom economy until Johnson's Great Society. Maybe these Yale nitwits need to study history.
Michael1364 Wrote: May 03, 2012 10:06 AM
What a great post. Good job.
Richard31 Wrote: May 03, 2012 5:40 PM
Ah. Agreed, I didn't see this as it wasn't a reply to the idiot above. As I noted there, WW2 also put 16 million into the Armed Forces and out of the labor pool (which was why we _had_ to push women into out of home employment, whether they really wanted it or not). Also, more than 400 thousand of the labor force did _not_ return from the war - which also made a dent in the post-war unemployment...

Let us not allow Obama to solve the problems he created with the FDR "solution".
After declaring that the world was in a state of “late Great Depression” on Tuesday, renowned Yale economist Robert Shiller hedged his words.

“Did I say that? Well, I think there are a lot of analogies to what we’ve been going through to that of the Great Depression, but I don’t really think we’re in a depression, so I might have said it slightly wrong,” he said in an interview on CNBC’s “The Kudlow Report.”

Shiller, co-developer of the Case-Shiller index on housing trends and author of “Finance and the Great Society,” said that while the United States wasn’t in a...