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View Diary: Economics Daily Digest: Geithner's goodbye (25 comments)

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  •  No repeat of the Great Depression.... (3+ / 0-)
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    rhauenstein, George Hier, jbob

    That depends on who you are.
    For the millions who have lost careers, homes, etc -- it looks an awful lot like the 1930s.

    Big difference?
    The rich guys got bonuses instead of trips to the windowsill.

    LG: You know what? You got spunk. MR: Well, Yes... LG: I hate spunk!

    by dinotrac on Mon Jan 14, 2013 at 03:21:32 PM PST

    [ Parent ]

    •  Not Really (0+ / 0-)

      In the 1930s, without Social Security, Welfare, unemployment insurance, food stamps, Medicare/Medicaid, homeless shelters,  and a thousand other safety nets, the people you're talking about would be starving in the streets (and back fields), freezing to death through the past 3 Winters.

      It sucks, they shouldn't have it as hard, the government should have stimulated twice as much and twice as fast (while not keeping the banks in the same business that wrecked us). But to say these past few years have been like the 1930s were for the worst off is to lose track of just how abyssmal the Great Depression really was for those people.

      "When the going gets weird, the weird turn pro." - HST

      by DocGonzo on Mon Jan 14, 2013 at 07:12:00 PM PST

      [ Parent ]

      •  Yes, really. (1+ / 0-)
        Recommended by:

        Lots of today's unemployed get no Social Security, Welfare, unemployment security, etc.  I, for one, was lucky enough to get a little bit of unemployment for a while, for which I was grateful, even if it came nowhere close to paying my bills.

        Last I looked, even here in Chicagoland, we have homeless sleeping outside in the winter, and we are barraged by reminders that starvation still exists in the United States.

        By the same token, in the Great Depression there was substantial -- if insufficient -- aid to the unemployed.  There were missions, there were soup kitchens, there were government programs (I trust you've heard of that FDR guy).

        On the other hand, the guys standing with cardboard signs at the entrances to strip malls with "Lost job. Lost home. Please help." signs aren't selling apples. That's a difference.

        So -- if you feel guilty at being one of the lucky ones, convince yourself of whatever you need to feel better.
        For millions, it looks an awful lot like the 1930s.

        LG: You know what? You got spunk. MR: Well, Yes... LG: I hate spunk!

        by dinotrac on Tue Jan 15, 2013 at 02:17:22 AM PST

        [ Parent ]

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