bailout situation- what do people think about this message (no slanted republican or democratic views please) ?

Question by snwbm: bailout situation- what do people think about this message (no slanted republican or democratic views please) ?
What do people think about this message?
The Great Depression was a worldwide economic downturn starting in most places in 1929 and ending at different times in the 1930s or early 1940s for different countries. It was the largest and most important economic depression in modern history, and is used in the 21st century as a benchmark on how far the world’s economy can fall. The Great Depression originated in the United States; historians most often use as a starting date the stock market crash on October 29, 1929.
The depression had devastating effects both in thedeveloped and developing world. International trade was deeply affected, as were personal incomes, tax revinues and profits. Cities all around the world were hit hard, especially those dependent onHeavy industry. Construction was virtually halted in many countries. Farmingand rural areas suffered as crop prices fell by 40 to 60 percent. Facing plummeting demand with few alternate sources of jobs, areas dependent on primary sectors such as farming, mining, and logging suffered the most.Even shortly after the Wall Street Crash of 1929, optimism persisted. John D Rockefeller said that ‘These are days when many are discouraged. The Great Depression ended at different times in different countries. The majority of countries set up relief programs, and most underwent some sort of political upheaval, pushing them to the left or right. In some states, the desperate citizens turned toward nationalist demagogues- the most infamous being Adolf Hitler – setting the stage for World War II in 1939.

READ THIS SECTION CAREFULLY
The Great Depression was not a sudden total collapse. The stock market turned upward in early 1930, returning to early 1929 levels by April, though still almost 30 percent below the peak of September 1929. Together, government and business actually spent more in the first half of 1930 than in the corresponding period of the previous year. But consumers, many of whom had suffered severe losses in the stock market the previous year, cut back their expenditures by ten percent.
In early 1930, credit was ample and available at low rates, but people were reluctant to add new debt by borrowing. By May 1930, auto sales had declined to below the levels of 1928. Prices in general began to decline, but wages held steady in 1930, then began to drop in 1931. Conditions were worst in farming areas, where commodity prices plunged, and in mining and logging areas, where unemployment was high and there were few other jobs. The decline in the American economy was the motor that pulled down most other countries at first, then internal weaknesses or strengths in each country made conditions worse or better. Frantic attempts to shore up the economies of individual nations through protectionist policies, like the 1930 U.S. Smoot Hawley tarriff act and retaliatory tariffs in other countries, exacerbated the collapse in global trade. By late in 1930, a steady decline set in which reached bottom by March 1933.
ANY OF THAT SOUND FAMILIAR?
I would like to mention that I am NOT a REPUBLICAN OR DEMOCRAT.
I hate both parties equally. But I must mention that Obama keeps mentioning protecting american jobs by instituting rules such as the Smoot Hawley Tarriff act. To be fair, I don’t have faith in Mccain either. I think he would have the potential to sit on his hands and do nothing during major crices (lil bush).

CAUSES OF THE GREAT DEPRESSION
The search for causes is closely connected to the question of how to avoid a future depression, and so the political and policy viewpoints of scholars are mixed into the analysis of historic events eight decades ago. The even larger question is whether it was largely a failure on the part of free markets or largely a failure on the part of governments to curtail widespread bank failures, the resulting panics, and reduction in the money supply. Those who believe in a large role for governments in the economy believe it was mostly a failure of the free markets and those who believe in free markets believe it was mostly a failure of government that compounded the problem.
DOES THAT SOUND FAMILIAR????????
Second, there are structural theories, that point to underconsumption and overinvestment (ECONOMIC BUBBLE), malfeasance by bankers and industrialists, or incompetence by government officials. The only consensus viewpoint is that there was a large-scale lack of confidence. Unfortunately, once panic and deflation set in, many people believed they could make more money by keeping clear of the markets as prices got lower and lower and a given amount of money bought ever more goods.
DOES THAT SOUND FAMILIAR????????

Cheap credit
In the 1920s, American consumers and businesses relied on cheap credit, the former to purchase consumer goods such as automobiles and furniture, and the latter for capital investment to increase production. (just like the last few years) This fueled strong short-term growth but created consu

Best answer:

Answer by Riggins
The bail out is a necessary evil…

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