by Ted Rudow III,MA ( Tedr77 [at] aol.com )
Saturday Dec 13th, 2008
The Bush administration said on Friday that it was prepared to intervene to prevent the collapse of General Motors and Chrysler after Republican senators blocked a compromise proposal to rescue the automakers. That they would be remembered for decades as the party of Herbert Hoover if the industry collapsed.
Everything is moving a lot faster today that it did in 1929! From '29 to '32, President Hoover kept talking like the politicians are talking now, right until he got fired! For three years, from October '29 to November '32, the election that put FDR in. He kept saying, "It wasn't the government's fault, we're doing everything we can," for three whole years as things got worse and worse, until things finally hit absolute bottom! From the '29 Crash to the bottom in '32 was about three years.
I wouldn't be surprised if it takes half that time. People are better informed, people know the history more, they're going to be more sacred. If they've got any sense at all they're going to start worrying about the banks and pulling their money out!--And once the banks fail, businesses fail, manufacturers fail, industries fail and unemployment skyrockets! It will be worldwide and worse than ever!
Ted Rudow III,MA