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Making History HQ Forum>General History>Are there any similarities between our economic conditions and that of the 1940's?...
Are there any similarities between our economic conditions and that of the 1940's?
said on Aug 12, 2009 at 06:17 PM

Does anyone know if there are any parallels between the economic situation shortly before and during WW 2, and the global economic situation of today?

said on Aug 12, 2009 at 07:58 PM

Well if it is then we need to start a new war, WW3 so we can get people in work and stop the economic crisis like they did in the 1940's xD

  • SargeK155
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said on Aug 12, 2009 at 08:02 PM

well, around the 1940's, well, mainly the 30's. We were neck deep in the stock market crash, and were in the Great Depression. Now, we're pretty much in the same situation. WW2 is mainly what got us out of the depression. Mainly because of our large amounts of exports to other countries, such as Lend-Lease between the U.S. and U.K. although Truman canceled Lend-Lease after the war, we were far from any depression of some kind. We were exporting so much that it boosted our economy out of the depression.

You could well imagine what would happen to our economy if another war broke out in europe ;)

said on Aug 12, 2009 at 10:46 PM

Did you know that an oil company in the United States had some under the table deal going with the Germans?

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said on Aug 13, 2009 at 01:05 AM

The world situation is a lot different than it was back then: After WW1, the U.S. was the big creditor nation of the world. Now the big creditor nation is China. "Western" industrial nations are now dominated by service industries, when they used to be production and farming. Bretton Woods has made every country that wants oil to be dependent on the economic stability of the U.S. economy.

There were a lot of U.S. companies supporting the Germans in whatever capacity they could.

Off the top of my head: General Motors expanded their production capacity in Nazi occupied France. A Ford bomber production facility would fire workers if they didn't work slow. (Henry Ford wanted a very low bomber output). Some U.S. banks loaned Germany money. Some companies sold to Germany using neutral Spain

  • Carl
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said on Aug 13, 2009 at 01:16 AM

Well, Roosevelt pushed through the new deal which several economic experts say lengthened the depression is similar to Obama pushing the stimulus through and that not doing anything.

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said on Aug 13, 2009 at 02:37 AM

cavetroll1304 said

Well, Roosevelt pushed through the new deal which several economic experts say lengthened the depression is similar to Obama pushing the stimulus through and that not doing anything.

That not doing anything. Would you care to elaborate on that? Anyway, Without Roosevelt, would there really have been the collaboration with the Russians, in which the "Big Three" came forward, more or less as one?

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said on Aug 13, 2009 at 03:48 AM

MajorLufbery said

That not doing anything. Would you care to elaborate on that?

Actually, it isn't. Lemme guess, you voted Obama? -_-

Lemme elaborate that.

Cavetroll is right:

Obama pushing the stimulus through and that not doing anything.

Now let me continue:

Without the Stimulus plan, we estimated that un-enployment would be at about 9%

With the Stimulus plan, we estimated that un-employment would go down to about 8%, then flow down to 5%

Now, for the real statistic. With Obama's stimulus plan. Un-employment is at 9.5% from June 2009.

So, not only is it not doing anything, it's making it worse :P.

*EDIT: Here's a chart http://media.photobucket.com/image/Chart%20for%20Stimulus%20Plan/mikesamerica/mikesamerica2/stimulus-vs-unemployment-mayr2.jpg

said on Aug 13, 2009 at 09:15 PM

The stimulus package is not realistically going to raise the unemployment rate in the short turn.

The economic damage caused by the stimulus package is basically: 1.) Inflation 2.) Increased burden on taxpayer interest payments on the National debt

The impact of both categories of economic damage is not going to manifest a few months after the bill is passed.

Thus the .5% unemployment rate increase is unrelated to the stimulus bill.

Its really more of a philosophical question whether politicians actually believe their stimulus bills are supposed to help the economy. Any sane model of economics would show that the concept is futile.

The point of the stimulus package could very well be to make it look like their administration is doing something to try to solve the problem. If the economy coincidentally improves, they can pretend to be heroes.

Its ironic that most people in capitalistic countries blame their President/Prime minister etc for bad economies and praise them for good ones when they have very little impact other than psychological impact.

  • Carl
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said on Aug 14, 2009 at 02:20 AM

Is it really a economic crisis, or are the people of America simply too scared to get themselves out of it?

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said on Aug 14, 2009 at 02:21 AM

Actually, it isn't. Lemme guess, you voted Obama? -_-

No, I didnt.

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"Mors ultima linea rerum est mortalis."
said on Aug 14, 2009 at 02:22 PM

MajorLufbery said

Is it really a economic crisis, or are the people of America simply too scared to get themselves out of it?

Are you from America?

Yes it is. Our economy is tanking and it is starting to look like the fed might try to monetize our debt (it's like taking money from one pocket and putting it into the other and saying it did something positive). The Weimar republic (the German state before Nazi Germany) and Zimbabwe did this and they ended up with hyper-inflation AND an economic depression. If the fed does try to monetize our debt than I think we might be in a world of trouble.

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"I am not your son"
~JPS
said on Aug 14, 2009 at 05:38 PM

I would say that we are in a kind of neutral stage right now, just waiting for something major to happen. And, maybe...

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said on Aug 14, 2009 at 08:01 PM

maybe... what?

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"I am not your son"
~JPS
said on Aug 15, 2009 at 04:44 PM

Maybe, As in, Maybe I am, and maybe i'm not. Its your guess.

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"Mors ultima linea rerum est mortalis."
said on Aug 17, 2009 at 08:58 AM

i am from russia, and i say that in russia everithing goes better whit the crisis, russian rubel stays stable, prises are lower, the only thing is: there are much more comercials then movies on tv.:) imigrate to russia!

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said on Aug 17, 2009 at 02:42 PM

kosmonaftx said

i am from russia, and i say that in russia everithing goes better whit the crisis, russian rubel stays stable, prises are lower, the only thing is: there are much more comercials then movies on tv.:) imigrate to russia!

A global virus, they are trying to suck our brains out of our heads with stupid commercials.

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said on Aug 17, 2009 at 08:44 PM

LOL!

said on Aug 17, 2009 at 09:56 PM

MajorLufbery said

kosmonaftx said

i am from russia, and i say that in russia everithing goes better whit the crisis, russian rubel stays stable, prises are lower, the only thing is: there are much more comercials then movies on tv.:) imigrate to russia!

A global virus, they are trying to suck our brains out of our heads with stupid commercials.

haha FREAKIN' COMMIES! LET'S NUKE 'EM! :D

_________________
"I am not your son"
~JPS
said on Aug 18, 2009 at 02:16 AM

cavetroll1304 said

MajorLufbery said

kosmonaftx said

i am from russia, and i say that in russia everithing goes better whit the crisis, russian rubel stays stable, prises are lower, the only thing is: there are much more comercials then movies on tv.:) imigrate to russia!

A global virus, they are trying to suck our brains out of our heads with stupid commercials.

haha FREAKIN' COMMIES! LET'S NUKE 'EM! :D

While you're at it, why dont you nuke simbela too. You know, simbela, the floating island of trash. Although I think they're facist.

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"Mors ultima linea rerum est mortalis."
Making History HQ Forum>General History>Are there any similarities between our economic conditions and that of the 1940's?...