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4everlost (39.01)

I watched a TV program on History called Crash: The Next Great Depression?

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July 22, 2009 – Comments (1) | RELATED TICKERS: MO , HOG , WASH

I enjoy listening to and reading as many perspectives as I can about economics, politics, investing, etc.  I noticed this show and decided to watch it to see what they had to say.  I came away dumbfounded.  Whoever produced this show makes huge leaps by representing concepts as facts that are in no way facts as well as jumping to crazy conclusions and connecting events that in ways that are very questionable IMO.  More in comments

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#1) On July 22, 2009 at 12:20 PM, 4everlost (39.01) wrote:

The video clip doesn’t show it but at the end of the show most of the interviewees admit that the Gov’t actions didn’t work.  However, there is no real conclusion presented at the end of the show, which is odd IMO.

 

The problem I have with it is that there are people that watch this show and simply accept everything it has to say as fact.  From there many of their decisions are based on the content of this show as well as others like it.  IMO this is propaganda.

 

This is a short clip (all I could find) but I watched the entire show.

 

Here are some excerpts (paraphrased): “One of the lessons learned is that the Gov’t has to react quickly”.  And “Andrew Mellon announced that the Fed would stand by as while the market worked itself out, a disastrous decision in retrospect.”  Today’s crisis gets balmed on “30 years of deregulatory efforts on the part of Congress”.  At the very end some idiot (IMO) from Fortune magazine says “…this is what happens when capitalism becomes unfettered…”  It’s a real problem if people take that statement as a proven fact (which it is not) and make decisions based on it.

 

 

 

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