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course, crises come and go and not alike .
But there are many commonalities between the 1929 and the one that broke in 2008 and prepared it for thirty years.
Where is the New Deal (even if he had only limited success)? In failure. The firmness Roosevelt? The audacity of Glass-Steagall Act ?
The foresight of Inaugural Address of March 4, 1933 ? The proactive policy against the dictatorship of finance and government banks ?
__The White House today, shows a weak will change the system. A clear line dice beginning ... A
financial reform substantive which is more topical
Limited capacity to curb the financial powers, which have contributed to bring Obama to power. BA
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_Certes, Obama rose to the offensive, it prohibits banks market activities , but the tax on banks unlikely to be adopted and will not change the system logic
_The government banks continuous replenishing its reserves at the expense of taxpayers. The IMF confirmed and signed ..____
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Inaugural Address :
"President Hoover, Mr. President of the Supreme Court, my friends
Here is a day of national consecration. And I'm sure that on this day my fellow Americans expect that on the occasion of my assuming the presidency, I speak to them with sincerity and resolution that imposes the present situation of our people.
is above all the time to tell the truth, the whole truth, frankly and boldly. We can do without the honesty about the situation in our country today. This great nation will resist, as she resisted, will recover and prosper.
So first, let me assert my firm belief that the only thing we have to fear is fear itself - the indefinable, the unreasonable, unjustified terror which paralyzes needed efforts to convert the rout in motion forward. At each of the black hours of our national life, a frank and vigorous leadership met this understanding and support of the people themselves that are essential to victory. And I am convinced that once again you give him your support in these critical days.
In this state of mind, on my part and yours, we must face our common difficulties. They concern, thank you God, only material things. Values fell to fantastic levels; the taxes have risen, our ability to pay has plummeted, and everywhere the governments are facing serious revenue reductions and the means of exchange are frozen by the freezing of trade flows; leaves strewn across the industrial land; farmers no longer find markets for their products, and for thousands of families savings of several years evaporated. More important, a host of unemployed citizens is faced with the grim problem of its survival, and about as miserable toil for wages.
Only a foolish optimist can deny the dark realities of the moment.
Yet our distress comes not from a lack of resources. We have not been hit by plague of locusts. Compared perils which our forefathers have defeated - because they trusted and were not afraid - we still have plenty to give thanks. Nature still offers her bounty and human efforts have multiplied. Abundance is on the doorstep, ready to be used liberally, but under the very eyes of this job application dying.
Essentially, it all comes from the fact that those responsible for trade in goods of humanity have failed, through their own stubbornness and their own incompetence, have admitted their failure and abdicated. The practices of unscrupulous loan sharks are challenged before the court of public opinion, rejected by both hearts than men's souls.
In truth, they tried. But their efforts bore the stamp of an outworn tradition. Faced with the collapse of credit they have proposed only the lending of more money. Stripped of the lure of profit by which they induce our people to follow their wrong direction, they came to exhortations, pleading tear in his eye for the return of confidence. They know only the rules of a generation of selfish. They have no vision and no vision the people perish.
Yes, moneylenders have fled their high chairs of the temple of our civilization. We can now make this temple to the ancient truths. The extent of this restoration is the extent to which we apply social values more noble than mere monetary profit.
Happiness is not in the mere possession of money, it lies in the joy of achievement, in the thrill of creative effort. Joy, stimulating work ethic, should not be forgotten in the mad race for profits vanishing. These dark days, my friends, will be worth all they cost us if we teach that our true destiny is not to be rescued but we help ourselves, to help our fellow man.
recognize the falsity of material wealth as a standard of success is accompanied by the abandonment of the false notion that public office and high political positions have value only in terms of honor and personal benefit that draws, and it must be terminated to these lines in banks and businesses that have too often given to a sacred trust the appearance of a cynical and selfish wrongdoing. It is not surprising that confidence wither, as it thrives only on honesty, on honor, on the sacredness of obligations, on faithful protection, and generous behavior, without all this she can not live.
Restoration, however, not be satisfied as ethical changes. This Nation asks for action, and action now ... "
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