Seeing election yard signs in the neighborhood

[EDS_]

Originally Posted by RJ312

I might have been a bit harsh on Keynesian principles simply because I believe that Keynesian principles were the reason that the Great Depression lasted as long as it did. I prefer Milton Friedman.

A). Virtually none of Keynes' logic was applied broadly in western economies until around 1940. The Great Depression ended in 1939.

B). I prefer Friedman's thinking as well.

C). Interestingly enough vis a vis Keynes and The Great Depression, Friedman and Anna Schwartz wrote a fabulous book that among many other things shows Keynes/Keynesianism had more or less nothing to do with the depression. FWIIW the book is "A Monetary History of The United States, 1876-1960." Chapter 7 of that book was reprinted later as a separate book, "The Great Contraction 1929 - 1933."


"A Monetary History" broadly speaking is an explanation of quantity of money theory.
"The Great Contraction" explains the myriad failures, bad luck etc. that led to and compounded TGD. MF is ruthless on the early '30s era Federal Reserve for example.

[RJ312]

Originally Posted by EDS_

A). Virtually none of Keynes' logic was applied broadly in western economies until around 1940. The Great Depression ended in 1939.

B). I prefer Friedman's thinking as well.

C). Interestingly enough vis a vis Keynes and The Great Depression, Friedman and Anna Schwartz wrote a fabulous book that among many other things shows Keynes/Keynesianism had more or less nothing to do with the depression. FWIIW the book is "A Monetary History of The United States, 1876-1960." Chapter 7 of that book was reprinted later as a separate book, "The Great Contraction 1929 - 1933."


"A Monetary History" broadly speaking is an explanation of quantity of money theory.
"The Great Contraction" explains the myriad failures, bad luck etc. that led to and compounded TGD. MF is ruthless on the early '30s era Federal Reserve for example.

When I have some more time, I would like to explore this topic further. I had the impression that Keynesian economics had a role in the Great Depression. I've never been a big fan of The Federal Reserve, so I'm glad that Friedman had an issue with them.

I didn't live through the Great Depression, but I've studied it at times and done some independent reading. I thought it was unnecessarily long and policy issues rather than the free markets made the Great Depression worse. I lived through a nasty recession, as all participants on this board did, in the late 2000s/early 2010s. The technical definition of that recession was Dec 2007 to June 2009, but times felt recessionary until ~2013 or so for me. The disconnect between Wall Street and Main Street seems greater in more recent times.

In recent times, I was initially against the bank bailouts, because of how I generally feel that the free markets sort out problems better than government bureaucracies. Friedman would be closer to that point of view. The bank bailouts probably saved the financial system, which was on the brink of destruction.

My move to Dallas was a personal response to the recessionary times. I felt like this region gave me the best chance to succeed in my career of anywhere in the United States. Dallas and Texas' economy as a whole was stronger in the recessionary times than the nation at large. Some of the state's political leanings played a role in creating an economy where I saw a personal advantage, therefore cementing my decision to come here. I liked the pro-business atmosphere with no state income tax and limited regulations, all of which favor free markets and are good for economies in general, and are still present today. I would like things to continue that way, but it is possible that ideologies are shifting in a non-beneficial way.

[Treasurevalley92]

Originally Posted by RJ312

My move to Dallas was a personal response to the recessionary times. I felt like this region gave me the best chance to succeed in my career of anywhere in the United States. Dallas and Texas' economy as a whole was stronger in the recessionary times than the nation at large. Some of the state's political leanings played a role in creating an economy where I saw a personal advantage, therefore cementing my decision to come here. I liked the pro-business atmosphere with no state income tax and limited regulations, all of which favor free markets and are good for economies in general, and are still present today. I would like things to continue that way, but it is possible that ideologies are shifting in a non-beneficial way.

Yeah, I moved here about the time you did for similar reasons after feeling the effects of the collapse. Dallas is a great place to chase the American dream if you make an above average salary.

I think it's inevitable that Texas will follow California which at one point was a red pro-growth state. At some point, the growth will slow and the bills will come due and you need to either cut spending or raise Taxes. At some point a cheaper state will offer better relocation packages that Texas can't match and companies will relocate to a lower Tax, lower COL area.