Dems pass BIG reform in 1933

[Excaliber]

In 1929, when the GDP was up, 50% of the population lived at near subsistance level. The "fat cats" were getting insanely rich while the typical working man remained at the same level they had always been.

For the top few % it was party on! Real estate was trippling, wealth was booming, but it wasn't tied to anything "real", it was a bubble.

The stock market crash, it could be argued, was a symptom of declining conditions, not the cause. Republicans were in power, had been for a couple of decades. When it "hit the fan" in 1930, they did very little or nothing to address the issues. WAVES of Bank failures started about a year AFTER the crash. Late 1930, again in early '31, late 1932, early 1933, bank after bank going down. The Republicans for the most part STILL took a "hands off", let's wait and see attitutude.

In 1933, the people "threw the bums out", they had had enough of the Repub's sitting on their butt's doing nothing. Power shifted to the Democrats who took immediate action.

Now it could be argue the Demo plan was good, bad or ugly. No matter HOW you analyze it one thing remains clear. At least they HAD a plan, at least they were doing SOMETHING to address the economy! Immediatly following that Democratic election power shift the economy started to improve dramatically.

JUST LIKE the crash of 2008 was preceeded by a couple of decades of Republican power, so was 1929. Their failure to respond to the crisis was notable in that they got their asses handed to them in 1933.

To SUGGEST the Government intervention in the crash of 1929 was not warranted is today, just as stupid as it was in 1929! History repeats itself, the Repub's couldn't handle it, still can't. The excuses carry over from the 30's to today.