What caused the Great Depression, the worst economic depression in US history? It was not just one factor, but instead a combination of domestic and worldwide conditions that led to the Great Depression. As such, there is no agreed upon list of all the causes of the Great Depression. Here instead is a list of the top reasons that historians and economists have cited as causing the Great Depression.
A LITTLE CHANGE CAN SAVE A LOT……….
(summary by editor)
Bruce and Jennifer Pivnick slashed their insurance costs without reducing their coverage.
Mitzi and Jimmie Walker discovered that food cooked at home tastes as good as take-out and costs a lot less.
THE CHALLENGE BEGINS: Story and VIDEO: Can the Walkers and Pivnicks trim their expenses?
And in the course of 30 days as they lived on new, tight budgets, both families learned that small lifestyle changes can add up to big savings. Each family slashed spending, saving more than $1,000.
“The biggest challenge,” Jennifer Pivnick says, “is overcoming your wants.”
Like millions of families, the Pivnicks and the Walkers haven’t saved much. Yet, at a time the economy is faltering, an emergency fund is vital, financial planners say.
The Pivnicks and the Walkers agreed this summer to participate in the Frugal Family Challenge, a project created by USA TODAY in conjunction with ABC’s Good Morning America Weekend. With help from financial planners, both families agreed to try to live within a spending plan for 30 days, starting in early August.
The results are in, and they’re impressive. Here’s a look:
THE PIVNICKS
Bypass brand loyalty for best deal
Jennifer and Bruce Pivnick of Richardson, Texas, have never been big spenders. Jennifer, 34, says she can’t imagine ever spending $5 for a cup of coffee. They rarely take vacations, and eat out only once a week.
In 2005, the Pivnicks moved from Southern California because they believed Texas was more affordable for their growing family.
Bruce is a regional sales manager for Clipper, a direct-mail coupon magazine (Clipper is owned by Gannett, which also owns USA TODAY). Jennifer has a home-based business selling custom-made rhinestone T-shirts and other apparel.
But while home prices are lower in Texas, their property taxes are higher. Energy costs are higher, too: In July, their air-conditioning bill topped $700.
Groceries are less expensive, but with four children, ages 3 to 13, the Pivnicks still spend about $1,000 a month on food. They’ve also been hit hard by rising gas prices.
Still, during the 30-day challenge the Pivnicks made some significant changes in their finances. They cut their expenses by more than $700 and saved nearly $1,000 for retirement.
To reach that goal, they:
For the article click on: http://www.usatoday.com/money/perfi/basics/2008-09-26-frugal-families-winners_N.htm
EVERY WARRIOR OF THE LIGHT……
Every Warrior of the Light has felt afraid of going into battle.
Every Warrior of the Light has, at some time in the past, lied or betrayed someone.
Every Warrior of the Light has trodden a path that was not his.
Every Warrior of the Light has suffered for the most trivial of reasons. Every Warrior of the Light has, at least once, believed he was not a Warrior of the Light.
Every Warrior of the Light has failed in his spiritual duties.
Every Warrior of the Light has said ‘yes’ when he wanted to say ‘no.’
Every Warrior of the Light has hurt someone he loved.
That is why he is a Warrior of the Light, because he has been through all this and yet has never lost hope of being better than he is.
Source: Warrior of the Light
For more quotes click on: http://www.gaia.com/quotes/Paulo_Coelho?page=75
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SHOULD POLITICS BE PREACHED FROM A PULPIT?
The Alliance Defense Fund, a conservative Christian legal advocacy organization, is causing a bit of a stir with its call for clergy this Sunday to speak out about candidates for public office, in defiance of IRS regulations limiting political speech from the pulpit. (The regulations allow congregations, as tax-exempt organizations, to take positions on issues, but not on specific candidates.) The ADF is hoping that the event, which it has dubbed “Pulpit Freedom Sunday,” will lead to a test case challenging the regulations. An excerpt from the ADF’s argument: For the rest of the article click on:
But the restrictions have many defenders as well, among them Rev. C. Welton Gaddy, president of Interfaith Alliance, which has launched a competing campaign to maintain the boundary between pulpits and politics. Gaddy said in a sermon last weekend:
“I cannot stress strongly enough my objections to turning houses of worship into pseudo-precinct nominating conventions. I am as concerned about what such a practice in houses of worship would do to the integrity and credibility of religion as about what it would do to weaken the Constitution.”
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5 STAGES OF CHANGE YOU CAN USE IN CRITICAL TIMES….
(You can apply these stages to the changes going on in our economy. What stages are those with different beliefs in? The following are quoted from articles-mackie)
Elisabeth Kübler-Ross was born on July 8, 1926 in Zürich, Switzerland, one of triplets. Elizabeth was born fifteen minutes before her identical sister. Minutes after came her fraternal sister. [2] She graduated from the University of Zürich medical school in 1957.
She moved to the United States in 1958 to work and continue her studies in New York.
As she began her practice, she was appalled by the hospital treatment of patients who were dying. She began giving a series of lectures featuring terminally ill patients, forcing medical students to confront people who were dying. Her extensive work with the dying led to On Death and Dying in 1969. She wrote over 20 additional books on the subject of dying.
She also proposed the now famous Five Stages of Grief as a pattern of phases, most or all of which people tend to go through, not always in sequence, after being faced with the tragedy of their own impending death. The five stages of grief, in sequential order, are denial, anger, bargaining, depression, and acceptance. The five stages have since been adopted by many as applying to the survivors of a loved one’s death, as well.
Click on: http://en.wikipedia.org/wiki/Elisabeth_K%C3%BCbler-Ross and
The stages are:
- Denial:
- Example – “I feel fine.”; “This can’t be happening.”‘Not to me!”
- Anger:
- Example – “Why me? It’s not fair!” “NO! NO! How can you accept this!”
- Bargaining:
- Example – “Just let me live to see my children graduate.”; “I’ll do anything, can’t you stretch it out? A few more years.”
- Depression:
- Example – “I’m so sad, why bother with anything?”; “I’m going to die . . . What’s the point?”
- Acceptance:
- Example – “It’s going to be OK.”; “I can’t fight it, I may as well prepare for it.”
Kübler-Ross originally applied these stages to any form of catastrophic personal loss (job, income, freedom). This also includes the death of a loved one, divorce, drug addiction, or infertility. Kübler-Ross also claimed these steps do not necessarily come in the order noted above, nor are all steps experienced by all patients, though she stated a person will always experience at least two.
Others have noticed that any significant personal change can elicit these stages. For example, experienced criminal defense attorneys are aware that defendants who are facing stiff sentences, yet have no defenses or mitigating factors to lessen their sentences, often experience the stages. Accordingly, they must get to the acceptance stage before they are prepared to plead guilty.
Additionally, the change in circumstances does not always have to be a negative one, just significant enough to cause a grief response to the loss (Scire, 2007). Accepting a new work position, for example, causes one to lose their routine, workplace friendships, familiar drive to work, or even customary lunch sources.
(Her model has been adapted for many changes that occur in our personal and business lives. -mackie)
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THE GROWING DEPRESSION (God is not causing it!)
TOP 5 CAUSES OF THE GREAT DEPRESSION
(if we don’t read history we repeat it)
Click on:
Scottsdale economist sees parallels to Great Depression
LARGEST BANK IN U. S. HISTORY FAILS
Sept. 26 (Bloomberg) — JPMorgan Chase & Co. became the biggest U.S. bank by deposits, acquiring Washington Mutual Inc.‘s branch network for $1.9 billion after the thrift was seized in the largest U.S. bank failure in history.
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GAS SHORTAGE TO CONTINUE FOR SEVERAL WEEKS
Atlanta – The effects of hurricane Ike largely emptied two critical gasoline pipelines that feed much of the South, leading to widespread panic-buying, shuttered pumps, and even some fistfights as motorists vied for precious drops of gas from Anniston, Ala., to Asheville, N.C.
Although public officials called for calm, promising quick relief, experts such as Atlanta gasoline distributor Tex Pitfield said it could actually take another two weeks for supplies to ramp up.
That’s because the widespread flooding and power outages that shut down 15 Houston-area refineries are not the only reasons why some 75 percent of gas stations in the region have plastic bags over their pump handles.
WHAT TO DO DURING TOUGH TIMES
After being diagnosed with debilitating arthritis and forced to retire on disability from her civilian job with the Army, Kim R. Love, 49, of Chesapeake, Va., didn’t think things could get worse. But then her husband, Grady, 58, lost his shipping job and later suffered a heart attack. Last February, without health insurance and no income, they moved into the five-bedroom house where Love grew up with her parents, now retired and in their 60s.
“I never thought I would be back at home in my own bedroom,” Love says.
Click on:
IN TIMES OF FEAR WE NEED TO PAUSE, LOOK AT THE DYNAMICS, MAKE SURE ALL CONCERNED ARE TREATED FAIRLY, DECIDE ON THE BEST COURSE TO TAKE AND DO IT, DON’T YOU THINK?
Click on:
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Robert Reich says democracy is being snuffed out by the pursuit of profit:
How Capitalism Is Killing Democracy, by Robert B. Reich, Foreign Policy (free w/reg.): Free markets were supposed to lead to free societies. Instead, today’s supercharged global economy is eroding the power of the people in democracies around the globe. Welcome to a world where … government takes a back seat to big business. …
Conventional wisdom holds that where either capitalism or democracy flourishes, the other must soon follow. Yet today, their fortunes are beginning to diverge. Capitalism … is thriving, while democracy is struggling to keep up. China … has embraced market freedom, but not political freedom. Many economically successful nations-from Russia to Mexico-are democracies in name only. They are encumbered by the same problems that have hobbled American democracy in recent years, allowing corporations and elites … to undermine the government’s capacity to respond to citizens’ concerns. …
[T]hough free markets have brought unprecedented prosperity to many, they have been accompanied by widening inequalities…, heightened job insecurity, and environmental hazards such as global warming. Democracy is designed to allow citizens to address these very issues in constructive ways. And yet a sense of political powerlessness is on the rise among citizens in Europe, Japan, and the United States… In short, no democratic nation is effectively coping with capitalism’s negative side effects.
For the rest of the article click on:
http://economistsview.typepad.com/economistsview/2007/09/robert-reich-ho.html
“Only Thing We Have to Fear Is Fear Itself”:
FDR’s First Inaugural Address
Franklin D. Roosevelt had campaigned against Herbert Hoover in the 1932 presidential election by saying as little as possible about what he might do if elected. Through even the closest working relationships, none of the president-elect’s most intimate associates felt they knew him well, with the exception perhaps of his wife, Eleanor. The affable, witty Roosevelt used his great personal charm to keep most people at a distance. In campaign speeches, he favored a buoyant, optimistic, gently paternal tone spiced with humor. But his first inaugural address took on an unusually solemn, religious quality. And for good reason—by 1933 the depression had reached its depth. Roosevelt’s first inaugural address outlined in broad terms how he hoped to govern and reminded Americans that the nation’s “common difficulties” concerned “only material things.”
Please note that the audio is an excerpt from the full address.
For the audio and the rest of the article click on: http://historymatters.gmu.edu/d/5057/
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FOR YEARS MOST OF THE POOR AND MIDDLE CLASS HAVE BEEN FEARFUL BECAUSE WE HAD PROBLEMS THAT WERE TOO BIG FOR US TO HANDLE LIKE HEALTH CARE, JOB SECURITY, REDUCING VALUE OF OUR INCOMES, LACK OF PROPER HEALTH CARE, OUR ELDERLY, ETC, CONGRESS NOR THE PRESIDENT HAS DONE ANYTHING ABOUT IT. THEY GAVE EXCUSES LIKE “WE ARE AT WAR,” “WE DON’T HAVE ENOUGH TRAINED AMERICANS TO KEEP UP WITH TECHNOLOGY,” ETC. MOSTLY THEY JUST BLAMED THE OTHER PARTY.
FINALLY, MANY OF THE RICH AND POWERFUL AND THEIR REPRESENTATIVES (THE PRESIDENT AND THE CONGRESS) ARE BECOMING AFRAID OF LOSING THEIR WEALTH AND, BY FEARFUL TACTICS, ARE TRYING TO MAKE US SO AFRAID THAT WE (AND OUR CHILDREN’S CHILDREN) WILL PAY TO BAIL THEM OUT. THEY WANT US TO FORGET OUR NEEDS AND PROTECT THEIRS. $700 BILLION WITHOUT ACCOUNTABILITY??????????????????????????????????????????????????????????
THEY PUSHED FOR A FREE MARKET, DEREGULATION AND SMALLER GOVERNMENT. NOW THEY WANT THE OPPOSITE TO PROTECT THEIR WEALTH.
A PRESIDENT LIED AND SCARED US INTO THE VIETNAM WAR; ANOTHER PRESIDENT LIED AND SCARED US INTO THE IRAQI WAR, AND NOW THEY ARE TRYING TO SCARE US INTO PROTECTING THEIR WEALTH WITHOUT ANY ACCOUNTABILITY AND WITHOUT PROTECTING WHAT WE HAVE.
IN TIMES OF FEAR WE NEED TO PAUSE, LOOK AT THE DYNAMICS, MAKE SURE ALL CONCERNED ARE TREATED FAIRLY, DECIDE ON THE BEST COURSE TO TAKE AND DO IT, DON’T YOU THINK?
-mackie
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WHO ARE WE GOING TO HIRE?
My father had an 8th grade education. When I was a young boy he left the family farm and drove a meat packing truck, sold cars, worked at a filling station, bought a grocery store, and sold Electrolux vacuum cleaners while Mom and I ran the store. Then, he got his building contractor license and began to build houses in the early 60s. He did quite well and had 5 new houses on the market. His broker told him to sell his houses at a discount because interest rates were rising, which would kill the housing market.
He would not because he had made a lot of money building and thought he could continue doing the same and make more money. He went bankrupt a couple of years later and lost everything but our home.
As you well know in our fast changing world we can no longer survive DOING WHAT WE ALWAYS DID.
Voting is a private thing. Our forefathers were men of high learning and wisdom (as is demonstrated in the Declaration of Independence and the Constitution). Today, our leaders need to have the same kind of characteristics. They can no longer lead on past experience because the world changes so quickly.
I thank those who have sent me views on who they think will do the best job. I believe that the more we can know about the candidates the better we can decide. Good and honest people will vote for different candidates and still be GOOD AND HONEST. I offer you the following to give you a broader view as you have given me (please continue sending me insights you have).
I THANK THE PRESIDENT FOR APPOINTING, SUPPORTING AND LETTING THE FOLLOWING PEOPLE DO WHAT THEY THINK BEST. -mackie
The following are quotes from other sources:
Remarks Prepared for Delivery
by Treasury Secretary Henry M. Paulson
At Columbia University
New York, NY – It’s good to be back at CBS – a great school with a storied history that includes Benjamin Graham and David Dodd as faculty members, and Warren Buffett as a student. And while the business school didn’t exist in the 18th century, the rigorous education Alexander Hamilton received as a Columbia undergraduate – inside and outside the classroom – no doubt paved the way for his groundbreaking work as America’s first Treasury Secretary.
My approach as Treasury Secretary will be bipartisan. And in my early meetings in Congress, with Democrats and Republicans, I have communicated my sincere desire to work with both political parties to meet our long-term challenges.
For more click on: http://www.treasury.gov/press/releases/hp41.htm
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Paulson and Bolten are just two of the onetime Goldman figures who find themselves managing perhaps the biggest financial crisis since the Great Depression. After Paulson took over at Treasury in May 2006, he turned to Goldman colleague Robert K. Steel to help him oversee financial markets. Steel left recently to run Wachovia, but several other Goldman alumni remain to help Paulson deal with the ongoing market turmoil.
Such heavy reliance on the most prestigious Wall Street investment firm has become something of a bipartisan Washington tradition in recent years; Clinton Treasury Secretary Robert E. Rubin was also a co- chairman of Goldman Sachs, as was Bush economic adviser Stephen Friedman. But if the Wall Street meltdown continues, the tradition may come under scrutiny, especially if Goldman eventually needs the kind of government assistance granted Bear Stearns or American International Group.
From the right, prominent voices question Paulson’s use of taxpayer dollars to help rescue private firms, while liberal and labor groups attack the ideological orientation of the Treasury secretary and other officials hailing from Goldman.
For more click on: http://www.washingtonpost.com/wp-dyn/content/article/2008/09/18/AR2008091803843.html
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HOW DID ROOSEVELT HANDLE THE GREAT DEPRESSION?
Roosevelt’s philosophy, on the other hand, was entirely
different. His most readily apparent ability was his voice; he was
able to talk to people in such a way that they almost always went
along with him. He was exceptionally confident, and made those around
him feel so too. Roosevelt did not tend to deal with underlying
problems; he was, however, wonderful at taking care of the surface
problem. On his inauguration day, he gave his famous speech asserting
that the only thing America had to fear was fear itself; not entirely
true, because the nation stood on the brink of collapse. The banks in
Chicago and New York were closed. Within ten days, Roosevelt had them
back open. Throughout the next few years, Roosevelt’s general policy
was to make work for anyone and everyone who was idle; it didn’t
matter if the work was pointless, and didn’t really need to be done.
different. His most readily apparent ability was his voice; he was
able to talk to people in such a way that they almost always went
along with him. He was exceptionally confident, and made those around
him feel so too. Roosevelt did not tend to deal with underlying
problems; he was, however, wonderful at taking care of the surface
problem. On his inauguration day, he gave his famous speech asserting
that the only thing America had to fear was fear itself; not entirely
true, because the nation stood on the brink of collapse. The banks in
Chicago and New York were closed. Within ten days, Roosevelt had them
back open. Throughout the next few years, Roosevelt’s general policy
was to make work for anyone and everyone who was idle; it didn’t
matter if the work was pointless, and didn’t really need to be done.
For more click on: http://www.cyberessays.com/History/161.htm
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WHO ARE WE GOING TO HIRE? (accredited from a trusted friend)
Obama:
Occidental College – Two years.
Columbia University – B.A. political science with a specialization in international
relations.
Harvard – Juris Doctor (J.D.) Magna Cum Laude
Occidental College – Two years.
Columbia University – B.A. political science with a specialization in international
relations.
Harvard – Juris Doctor (J.D.) Magna Cum Laude
Biden:
University of Delaware – B.A. in history and B.A. in political science.
Syracuse University College of Law – Juris Doctor (J.D.)
vs.
McCain:
United States Naval Academy – Class rank 894 of 899
& Palin:
Hawaii Pacific University – 1 semester
North Idaho College – 2 semesters – general study
University of Idaho – 2 semesters – journalism
Matanuska-Susitna College – 1 semester
University of Idaho – 3 semesters – B.A. in journalism
( over 20 yrs ago my mother became very ill. Here family doctor she had been going to for a long time told her she had asthma. She became critically ill when she started having problems breathing. Here doctor finally sent her to a specialist who did a thorough exam and found that every major artery to her heart but one was totally closed and that she was about to have a major heart attack. The doctor did open heart surgery on her, she recovered and lived for 20 more yrs. We need specialists who are trained in their field of expertise. -mackie)
BILLIONAIRE INVESTOR LEAVING AMERICA…..
If Wall Street is hoping that Prince Alwaleed bin Talal will ride to the rescue of America ‘s crumbling banks, here’s the word from the Saudi billionaire: Thanks, but no thanks. TIME: Did you see this coming?
TIME: You were involved with Citi’s recapitalization earlier this year. Alwaleed: No. TIME: Is this the bottom?
Alwaleed: I’m not sure it’s the bottom yet. See photos of life and commerce in Saudi Arabia here.
TIME: Would you buy now?
Alwaleed: No, I think we have enough involvement, with Citibank, in the financial services arena.
TIME: No more banks for you, then?
Alwaleed: No, I’m involved with Citibank. Alwaleed: We have a big exposure to the world economy in general — in banking, hotels, in real estate. But right now, there’s a lot of emphasis on Saudi Arabia . Saudi Arabia is experiencing a big boom. There’s a lot of emphasis on real estate, and on companies in Saudi Arabia .
Alwaleed: No doubt, we were impacted like anybody else. Like my regional [Arabic] media companies, Rotana and LBC.
For the article click on:
http://www.time.com/time/world/article/0,8599,1841548,00.html
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WHAT WAS THE FAITH OF OUR FOREFATHERS?
| There has been much debate on this and I thought you might be interested.
Click on the souces you are interested in:
|
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