Does Anyone feel like Bailing

[classicman]

I must have missed where you answered my question about the default rates and jobless percentages in '29 compared to today? They are straightforward questions one must know the answers to before drawing any similarities or basing conclusions upon. I'm actually surprised that you didn't know this before basing an argument on that which may or may not be true. One must first know the facts before drawing any conclusions. Since you failed to provide any supporting evidence upon which you were basing your argument in post , I'll do it for you.

~Mortgage defaults in the United States were in the 50% range as compared to the current rate of approx. 10%.

~Additionally, the unemployment rate reached nearly 25% during the Great Depression compared to 6.5% for the month ending in October 2008.

~Bank failures were also at 20%.

~The stock market lost 89% of its value from its peak during the Great Depression.

~ Industrial production fell by nearly 45% between the years 1929 and 1932.
~ Home-building dropped by 80% between the years 1929 and 1932.
~ From the years 1929 to 1932, about 5000 banks went out of business.

Contrast that with figures from across the pond. Glasgow experienced 30% unemployment whilst in Newcastle the major industry of ship building fell by 90% and unemployment rose to 70%.


Just a final perspective - The stock market from '29 - 32 reached a high of $381.17 and fell to a low of $41.22.

Are there similarities, yes. Is it going to happen again - doubtful. IS this all GWB's fault? Absolutely not. Did he make matters worse, yes. There is more than enough blame to go around and it started long before him.