I am not a fan of FDR, however, his programs were lot smarter than of Bush and of the current govt and Congress and Senate. Yes, it was govt programs, but at least they produced something and kept men employed. Current programs, do not produce any thing and kept men unemployed. It is an ugly shame; and just plain stupid.
Bail outs for the banks and Wall Street. Nothing for the people.
Govt is to be of the people for the people. But money rules and the people are fooled.
From Stock Tiger:
In March 1933 president Franklin D Roosevelt issued an executive order establishing the Civilian Conservation Corps CCC. This was an incredibly smart and useful thing to do at the time and one that would reap rewards over all the years that have followed. The program was planned to employ 250,000 young men from 18 to 20 years old to work in the areas of soil erosion, flood control and other manual labor that could in the long run greatly benefit the country and in the short run help to relieve some of the unemployment problem. They were given housing, food and medical attention and were paid $30 per month with a mandatory $22-$25 of that sent to their family. By July of that year there were already over 1400 working camps with 250,000 workers. Because of favorable public opinion of this program, by 1935 the program was expanded to the age of 28 and over 500,000 enrollees were employed in about 2900 camps with 82% of Americans in favor of this program. Over the years this program was expanded to include a mandatory minimum of 10 hours a week of vocational and academic training to prepare workers for work once they left the program. Generally, workers signed up for a minimum of six months work with the possibility of staying for up to two years. The official program ended in 1942 but this became like a model which is still used today in various conservation programs throughout the country. During the time of this program the workers planted about 3 billion trees to help reforest America and they constructed more than 800 parks nationwide with thousands of miles of public roadways. America now has some incredibly beautiful national and state parks with thousands of miles of well constructed trails produced during this period. Though this program ended over 60 years ago the benefits continue. There are over 30 million RV enthusiasts supporting a myriad of businesses basically made possible by the work done in these programs.
Since the current economic crisis began the Fed has spent over $3 trillion in loans, bailouts and stimulus programs. The Fed is run by the banks so it is logical that they used this money for their own members' benefit instead of doing something that would directly help the country's citizens but congress has allowed this. In 1933 the country had a much smaller population and the economy was such that the $30 per month payment was agreed upon. If the government established a temporary worker program today perhaps they would have to pay $3000 per month but this money instead of going to banks, for them to use investing in the stock market, would go directly to the people and then into the the general economy benefiting everybody, including the banks. Goldman Sachs who received TARP money makes up to $100 million a day in stock trading profits benefiting no average American and certainly not benefiting the millions of unemployed and over 40 million living in poverty. It is difficult to get a reliable figure as to how many people are unemployed at the moment. There will always be a small percentage that are unemployed by choice, maybe temporarily or maybe due to health reasons. If the government were to now establish a work program for temporary relief of course not nearly all people could qualify for various work due to skill set sets and other reasons. For illustration purposes let's use the 14 million figure which is about how many are currently unemployed. To pay each of them $3000 per month would cost $504 billion per year or about $96 billion less than the Fed is proposing to spend only through June in buying government treasuries. If they used this money in a productive way, as seen here, you would have immediate results, at least temporarily. This money instead of being hoarded by banks would go directly into the economy and over time spark many new businesses which would then be in competition with the government for workers. It is a shame and so typical that the government does the opposite of what it should do when faced with a problem.
The US imports oil while natural gas sits unused as they say there is not a good piping distribution system to deliver it where needed. Perfect - a work program to create a nationwide delivery system and say goodbye to imported oil. President Kennedy launched an industry to put a man on the moon in 10 years creating hundreds of companies and thousands of jobs and some of that was really rocket science. Laying some pipes around with the help of some of the 14 million unemployed is not but the administration and congress instead extended payments to unemployed people with no work requirement so the country sees no lasting benefit.
Through all this the stock market though is up......which IMMHO does not make sense....but it will in time and then everyone will be surprised.
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