RoR: Forum

Douglas said this in response to FDR's 1933 announcement that the US was going off of the gold standard.

Ed

(Edited by Ed Thompson on 4/05, 10:50pm)

Post 1

Friday, April 7, 2006 - 2:40pm

I wonder what he would think now?

As a trader of Gold I am always amazed, and greatly amused, with the high esteem that precious metal is held, and the perceptions people have of it.

I think we need more quotations on here....keep up the good work!

Post 2

Monday, April 10, 2006 - 9:52am

Ed - It didn't end, now did it?

Post 3

Thursday, April 13, 2006 - 1:07am

Kurt, you ole' dog you, of course it didn't -- literally -- end.

But it's direction changed. We're less free than then. Because we have less purchasing power. Yeah, sure, we have more gadgets -- but the same things (inflation-adjusted) cost more than before. Back then, one man could support a family and send his kids to college -- without incurring debt. Now, this is not -- on average -- possible. Dual-income families are now a requirement -- for this same standard of living.

FDR hurt America. He set the stage for its ruin. The only other president who has done this much fiscal harm, is the current one.

Ed

Post 4

Thursday, April 13, 2006 - 10:10am

I can see how FDR gets first place. However, how do you see the fiscal harm from GW even exceeding any of Lincoln, Wilson, LBJ, Nixon or Hoover?

Post 5

Thursday, April 13, 2006 - 12:38pm

Aaron, to be honest, I don't have detailed data on these presidents -- in order to make a perceptual, side-by-side, comparison to ole' G-dub. I'm basing the accusation off of Cato institute (and other) publications regarding the unprecedented level of government spending -- and checking off the 4 variables of my Statism Index:

GDP-adjusted Tax Revenue
GDP-adjusted expansion of the money supply (inflation)
Trade deficit
Population-adjusted military deployment

These 4 things cannot simultaneously increase -- during a shrinking of statism. And these 4 cannot simultaneously decrease -- during an expansion of statism. These 4 things are easy to spot (ie. difficult to hide). And these 4 things allow laymen to track changes in the level of statism in their nation.

Ed
[national debt is a potential 5th candidate -- and would be particularly indicting for the current administration]

Post 6

Friday, April 14, 2006 - 6:05am

Ed, of course FDR hurt us. The reason was that he started the welfare state. It had nothing to do with the gold standard.

Post 7

Sunday, April 16, 2006 - 8:52pm

Kurt,

C'mon. Nothing? Nothing to do with the Gold Standard? C'mon. Check this out ...

===========
What cost $1 in 1933 would cost $13.55 in 2005.
Also, if you were to buy exactly the same products in 2005 and 1933,
they would cost you $1 and $0.07 respectively.
===========
http://www.westegg.com/inflation/infl.cgi

93 cents of purchasing power has been taken out of every saved dollar, since we went off the 'standard.'

C'mon man, this HAS to be destructive to us as a civilization. I can't BELIEVE that you don't believe this!

Ed

Post 8

Monday, April 17, 2006 - 12:37pm

We already went over this, Ed, and no, it is not, because your income grows by that much or more, even at very low rates.

Post 9

Monday, April 17, 2006 - 9:05pm