The Great Depression - Page 3
The Great Depression started in the U.S. in 1929, quickly spread to every
part of the world. Most Americans lost everything as banks failed.

COULD THIS HAPPEN AGAIN?

The Great Depression was perhaps the most devastating problem America had ever faced. It had a tremendous detrimental effect on all of our citizens, with most losing everything they owned. The end result of the unemployment closed banks, a failed government, and large numbers of suicides. As soon as people found out what was happening, it was too late. Banks closed taking everyones money, causing lost homes and complete desperation. We need to compare existing problems with what happened in 1939. “Are we going through the same conditions that caused the Great Depression?”

DEFICIT SPENDING AND THE COST OF WAR

The two problems facing the U.S. are closely related. One is our deficit spending, now going into the trillions, and our government’s love of expensive wars. Our two wars are set to cost over 600

Billion in June of 07. This does not include growing medical care for soldiers and veterans wounded in the war. What about our rusted and worn out Hunvees and other military equipment? This entire war is being run on credit, building up our national debt to soon reach ten trillion. Such a large debt can never be paid off. How did the General Fund end up over 9 trillion dollars in the hole? Tax cuts and increased spending, largely military. Combined, the wars in Iraq and Afghanistan are about to become the second most expense in U.S. history, after WW11, but the cost has not hit American’s pocketbook yet. The Vietnam war in 2007 dollars was 650 million. So far our two new wars have surpassed 754 billion. President Bush is continually asking for 100 billion to continue the war. The Korean War spending increased inflation that neared 8% in 1951. To pay for this war, President Truman raised the top tax rate to 91% for individuals and 70% for corporations.

THE U.S. HAS A HISTORY OF GETTING INVOLVED

So how did the U.S. manage to get envolved in so many wars that obviously did not threaten us? It was really pretty easy. When North Korea invaded the south, no one really cared as most had never heard of Korea. The U. S. has never learned “Never underestimate the enemy.” We thought a few troops would finish off such a small country very fast. No one seemed to worry about China and Russia getting involved. We lost 36,913 good men and suffered 103,284 wounded. No one paid any attention to the war which is known as “The forgotten war.”

KOREAN WAR MEMORIAL - WIKIPEDIA

VIETNAM MEMORIAL WALL - WIKIPEDIA

VIETNAM

In Vietnam the French were fighting their own war in a small unknown country and were soundly defeated. So, was the U.S. interested in taking over where the French left off? Of course. We started by sending 500 “advisors”, later increased our “advisors” to 16.000. Eventually we needed over 500,000 who , like the French, were defeated. We lost 58,202 good men and suffered 153,300 wounded. Was it worth losing one man? Was North Korea worth losing one man? Is Iraq worth losing one man? Again another small country had beaten us. Once again we entered a war with no plan and no desire to win. America was torn apart with violent protest over the Vietnam disgrace. Iraq is following the same path.

IRAQ

Our latest war is somewhat different from Korea and Vietnam. We had no reason to get into another war and get thousands of our soldiers killed. Since we had no reason to enter into a war with Iraq, we fabricated one. Our Army is depleted to the point that we need the National Guard to come up with 140,000 men. Our equipment is outmoded and worn out. We thought we could send a few thousand troops and a few Humvees and subdue the Muslims. Well not quite. Again we had no will to win. Again, as in Vietnam, Americans are violently opposed to this senseless war. As Korea is known as “The Forgotten War”, this war is known as “The Bush War”, as apparently he is the only one that wants it. With over 3500 dead, and over 25,000 wounded with arms and legs blown off we are still making no headway.Why does the American public allow this to continue? Bush continues to push for more billions to keep the war going. Is the mission really “Accomplished.” We are running out of troops, uquipment, and desire to win. So it is obvious that Congress is responsible for our runaway national debt.

RISING U.S. AND CHINA TRADE IMBALANCE.

The trade deficit and outsourcing of labor is now going out of control. The steep trade imbalance with China is costing us jobs. China’s trade dominance was first felt in the textile and clothing industries. Now the impact is spreading to high tech such as semi-conductors, aero space, and soon automobiles. At the present rate China will be producing nearly everything we use here in the U.S. This trade imbalance is costing us jobs and is reaching an unacceptable level. Hundreds of our manufacturing plants have been shut down, putting thousands of Americans out of work. Our middle class is practically non-existant.

TIME TO PAY THE BILL

How much longer can the U.S. continue this downward trend. Is there a simularity with the 1930s depression? It all boils down to spending on credit. Eventually the bill will have to come due. Our school system is broken beyond repair with large percentages dropping out and joining gangs. Russia and China have developed a frightful array of missiles, ships, and other modern military equipment.We have shrunken from the most powerful most respected nation in the world to a third world country. With China producing everything we will not need any American workers. What few jobs remaining will be outsourced to other countries. Yes, the coming recession will surely make the last one look very puny. Our Congress is there for only one reason, TO SPEND MONEY. Now it is time to”PAY UP.”

AMNESTY

Now after all has been said we are facing a situation that will surely bankrupt the U.S. Without voicing any opinion on the subject everyone must realize that Amnesty will cost the U.S. an estimated 2.6 Trillion. You do not have to be a mathematician to add up our debt and realize we are in trouble. This will not only affect Americans but immigrants as well. With Russia and China increasing their military might we find ourselvesin a precarious position. Can this country exist when nobody has an education, when our military is gone, and everyone on drugs. If you believe we are not in trouble you should look again. What about Iran?

Website historian and Wikipedia