Thread: Even the damn stimulus package has happened before:

Popular imagination has the Great Depression opening with a bang in October 1929. We forget that even by December of that year, the market had no idea what was really in store. After a period of wild, bipolar volatility, stocks had taken two big tumbles (a 12.8% drop on Oct. 28 and an 11.7% fall the next day) while the top bankers and "captains of industry" rushed to shore up the market. By November, the Dow had hit its low for the year at 198, down from the giddy September high of 381.


But, the financial pundits and government leaders of the day insisted, the economy's fundamentals were still strong. Mass unemployment was, some months after the crash, still just something that went on in Germany and Britain. America was strong and merely needed a push to keep the financial markets from harming the broader economy.


With that in mind, Herbert Hoover -- only nine months into his presidency -- assembled leaders from the public and private sectors to create an economic-stimulus package. Among the measures, Time magazine reported at the time, was a promise from Congress to offer bipartisan support for a tax-cut package.


The proposal called for $160 million in tax relief -- only about $22 billion if adjusted against the gross domestic product at the time, and therefore much smaller than the plan under consideration here in 2008. Read Time's original coverage of the plan.

found:
The great fiscal stimulus package ... of 1929
Prosperity Pledgers -- Printout -- TIME <--- this one especially
Wall Street Crash of 1929 - Wikipedia, the free encyclopedia

dammit Don't you love repetition.

& again in 2001. I think it's nothing more than a political gimmick cause it sure as hell doesn't stimulate anything, especially, as Ron Paul said, "we have to borrow that money from China & then use it to purchase shoes that are made in China".