July 12, 2009
TODAY'S TOPIC:
My opinion today again concerns the current economic situation and the stimulus package that has been put into place. This is my opinion, and should be taken as such. There is much comparison to the Great Depression, which I feel should not happen. These events are not the same nor are the economies involved. During the Great Depression unemployment had risen to between 12 and 15 million workers, or 25-30 percent of the work force. The rate today is nowhere near this, as of June 2009 the rate was 9.7%. Although this is only one statistic it certainly shows the difference between the two times. During the 1930s, most economic theory was promoted by the economist "John Maynard Keynes". He was one of the first to promote deficit spending, which was done during the Depression and has been done since, and certainly has been done today with the stimulus package. This type of theory was later refuted by another economist "Milton Friedman". I have read writings of both and they both make good points. Needless to say, we are in a recession that needs to be addressed, the big difference that I feel today is that everyone knows about it globally. It is necessary for the world to act together to bring this under control. We do not need this recession to be ended as the Depression ended. We must always remember that the stimulus for production was provided by someone named "Hitler".
TODAY'S PICTURE:
This is a change of pace, the picture was taken in 1967, at the Montréal Worlds Fair in front of the Mexican pavilion. I am second from the left in the back row.
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About Me
- Steve
- North Grafton, Massachusetts, United States
- Well-educated, disabled at this point with Multiple Sclerosis. I am very glad that I was able to do the things that I have been able to do over the years. had to change the picture, this one's more realistic.
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