tag:blogger.com,1999:blog-8897392523653806017.post7196228027528850601..comments2023-11-03T08:29:45.417-04:00Comments on Law and Order Teacher: ANDREW JACKSON, 1767-1845Law and Order Teacherhttp://www.blogger.com/profile/11069306257334186404noreply@blogger.comBlogger14125tag:blogger.com,1999:blog-8897392523653806017.post-58347968652388927742010-02-26T20:07:20.319-05:002010-02-26T20:07:20.319-05:00Oso,
I am glad that you feel you have learned some...Oso,<br />I am glad that you feel you have learned something. I learn things everytime that I research these people. I'm not finished. I have some in mind. They'll follow. Thanks for your reading.<br /><br />Pat, <br />I'll see you soon. I'm very excited about the opportunity to look over the Vietnam era display. You have done yeoman work and really set up a great experience for us. Thanks, my friend.<br /><br />Tnlib,<br />You're right. The Trail of Tears, nothing good there. I'm sorry to hear that damage was done to the Hermitage. I'll still enjoy it and move on to Polk's house. Good stuff. Thanks for reading.<br /><br />Vegas, <br />Jackson is a real American hero. As for his presidency, it is very controversial. Interesting guy, interesting historical figure. Good book. I read it and loved it.<br /><br />Carl,<br />Thanks and keep reading. I need your intelligence to set me straight. Thanks, sir.Law and Order Teacherhttps://www.blogger.com/profile/11069306257334186404noreply@blogger.comtag:blogger.com,1999:blog-8897392523653806017.post-80950939173615009592010-02-25T21:10:04.482-05:002010-02-25T21:10:04.482-05:00I read American Lion last year and you did a great...I read American Lion last year and you did a great job on jogging my memory. He certainly was controversial.The Vegas Art Guyhttps://www.blogger.com/profile/09800692010017718392noreply@blogger.comtag:blogger.com,1999:blog-8897392523653806017.post-74754707438568651872010-02-24T14:22:13.071-05:002010-02-24T14:22:13.071-05:00No problem. It happens to me all the time! I can...No problem. It happens to me all the time! I can't tell you how many times I re-read some post from the past and realize I missed something like that. <br /><br />Enjoy the Hermitage!Carl Wicklanderhttps://www.blogger.com/profile/10743503122650895906noreply@blogger.comtag:blogger.com,1999:blog-8897392523653806017.post-52280957251113796442010-02-24T13:13:14.344-05:002010-02-24T13:13:14.344-05:00Sounds like fun to visit the places of the Preside...Sounds like fun to visit the places of the Presidents...I visted the Chickamauga Battlefield in Georgia a few years back.<br /><br />It was a cold and rainy February(2006) and I could feel the ghosts of my great-great Uncles who fought and died(1 dead, 1 wounded) there for the Union.<br /><br />Yes, History is good Steve...10 days until the Vietnam Reunion, see you then.PRHhttps://www.blogger.com/profile/05429172501061105316noreply@blogger.comtag:blogger.com,1999:blog-8897392523653806017.post-32114360341175604052010-02-24T07:31:26.106-05:002010-02-24T07:31:26.106-05:00Well done, my friend, and most interesting. The ma...Well done, my friend, and most interesting. The man was his own man and, as you say, a bit of a character - but colorful.<br /><br />I'm afraid "the Trail of Tears" turns me off, but other than that, I think he upheld the office quite well.<br /><br />There is an "historical rumor" that Rachel's first husband lied to her when he told her their divorce had been granted.<br /><br />The Hermitage is absolutely beautiful. Too bad the tornado that came through here several years ago wiped out all the magnificent elm trees that lined both sides of the long drive. A beautiful approach.Leslie Parsleyhttps://www.blogger.com/profile/13743778482517634823noreply@blogger.comtag:blogger.com,1999:blog-8897392523653806017.post-44444722253043193362010-02-23T22:09:22.194-05:002010-02-23T22:09:22.194-05:00Law and Order,
Had someone mentioned to me several...Law and Order,<br />Had someone mentioned to me several months ago that there was an informative series on US presidents (and historical figures such as Paine) available I might have passed on the opportunity,thinking the subject rather dry at the time.<br /><br />Instead you've really brought the characters to life for me. The parallels with present day geopolitics and the relationships with European history which I had been aware of are fascinating.<br /><br />The stimulus money which funded this was well spent :)<br /><br />Seriously, thanks.Osohttps://www.blogger.com/profile/09513535195785731541noreply@blogger.comtag:blogger.com,1999:blog-8897392523653806017.post-55908633639974291222010-02-23T20:44:50.183-05:002010-02-23T20:44:50.183-05:00Carl,
Sorry, I didn't edit my own post. Harri...Carl,<br />Sorry, I didn't edit my own post. Harrison died a month after a 2 hour inauguration speech. So much for self editing. Thanks for the correction, I didn't even notice the mistake. I'll fix it.<br /><br />Oso, Ducky,<br />You are right that monetary policy is a crapshoot. It's kind of like weather, it's hard to predict. I'll never say that doing nothing is a policy.Law and Order Teacherhttps://www.blogger.com/profile/11069306257334186404noreply@blogger.comtag:blogger.com,1999:blog-8897392523653806017.post-49343577596377041502010-02-23T18:41:14.241-05:002010-02-23T18:41:14.241-05:00Another excellent post, Law and Order Teacher. I ...Another excellent post, Law and Order Teacher. I don't really know what to add except perhaps that Harrison was elected in 1840 but died in 1841. <br /><br />And controversial is the right word for Jackson. There are things I like about him and things that repel me. I like his actions in shutting down the bank but he also wasn't afraid to stretch his authority of his office. He certainly centralized power.Carl Wicklanderhttps://www.blogger.com/profile/10743503122650895906noreply@blogger.comtag:blogger.com,1999:blog-8897392523653806017.post-52212513323792667922010-02-23T12:16:53.296-05:002010-02-23T12:16:53.296-05:00I don't think there would be much argument tha...I don't think there would be much argument that understanding of monetary policy in a depression has advanced quite a bit since Hoover.<br /><br /> It remains to be seen but when the dust clears we may agree that Bernanke did act prudently.<br /><br /> What we seem to be having a tougher time accepting is that Greenspan's laissez-faire policy was a disaster and we need to learn from that. A pill the right doesn't want to swallow.Ducky's herehttps://www.blogger.com/profile/14608115001116619877noreply@blogger.comtag:blogger.com,1999:blog-8897392523653806017.post-41506659350379084882010-02-23T01:06:32.679-05:002010-02-23T01:06:32.679-05:00Law and Order/Ducky,
Two things I think might be s...Law and Order/Ducky,<br />Two things I think might be said in somewhat late defense of post-crash Fed monetary policy under Hoover.<br /><br />It's my understanding that accepted monetary policy at the time was to loosen/tighten the money supply in reaction to slight changes in the business cycle rather than to stick with a particular policy direction.<br /><br />Also at that time the Fed did not act in unison;the individual reserve banks conducted individual policy which was not always coordinated.Osohttps://www.blogger.com/profile/09513535195785731541noreply@blogger.comtag:blogger.com,1999:blog-8897392523653806017.post-70449395633968288602010-02-22T22:09:13.544-05:002010-02-22T22:09:13.544-05:00Oso,
Thank you for reading. I don't know if i...Oso,<br />Thank you for reading. I don't know if it was the union so much as it was something he felt was mandated by the constitution. As for the Tariff he didn't care for it either, but it was the law. However, in the Supreme Court case brought by the Cherokees over their right to disputed lands in Georgia, the court ruled in their favor. Jackson chose to ignore the ruling, saying "Let Mr. Marshall enforce it." Contradictions, yes?<br /><br />He certainly had no love for the rich, or those he perceived as rich. Mainly, he considered the bank unconstitutional. He also was disgusted by the blatant corruption of Nelson Biddle who ran the bank. He loaned money to those in congress who kept him in power. <br /><br />Thanks for your consideration on the NA statement. I admire the tribes, but historically they sowed the seeds of their own demised by their constant intertribal warfare. <br /><br />Ducky,<br />As always thanks for the visit. I agree that bad monetary policy is a root cause of nearly all economic policy. Hence, my disgust with the Fed. I'm not so much opposed to institution as I am to its tendency toward missing the boat in nearly every economic crisis. <br /><br />In the decade of the 20s, as the credit, margin buying, and speculation ran out of control, the Fed fiddled while the economy burned. They took no definitive action until it was too late. Injecting money into economy would have cushioned the blow a bit, while tightening the supply would've exacerbated the problem. Cetainly it may have ameleorated the banking crisis. <br /><br />From what I've read the Smoot-Hawley Tariff, and the Fed policy were two major causes of the crash. Overproduction is always blamed, although I'm not convinced this is true. If it was however, elasticity calls for an injection of currency to allow prices to rise as demand would increase, buying would drive up prices.<br /><br />Instead farmers lost their butts to low prices. FDR was foolish in his thought that price and production controls would stabilize prices. Instead, the government paid money to short production. To my way of thinking buying is good for the farmers.<br /><br />I disagree with Nixon's actions on two fronts, gold standard and wage and price controls. Never work, never have. My only thought on gold is it may restrict spending some by doing away with, or severely curtailing fiat money. As long as government can print money it will. <br /><br />One other thought on government spending. I think Obama went to school on FDR's buying votes with New Deal money. Someone with suspicious mind would think Obama is purposely withholding spending on the stimulus in order to start spreading the wealth in vital vote areas. Just a thought.Law and Order Teacherhttps://www.blogger.com/profile/11069306257334186404noreply@blogger.comtag:blogger.com,1999:blog-8897392523653806017.post-62170758667299635112010-02-22T17:13:33.175-05:002010-02-22T17:13:33.175-05:00... as you come down hard on the Fed you should r...... as you come down hard on the Fed you should remember that we were on the gold standard during the depression.<br /> Those nations that stayed on it the longest got hurt the worst, us among them. The gold standard tends to manage inflation by being deflationary and that can lead to unemployment.<br /><br /> If we were to try to convert to the gold standard now, all hell would break lose. Although partial reserve banking with the partial reserves held as gold seems to have some support but I can't profess to understand the implications.<br /><br /> Rather than blaming the Fed it would be better to understand the implications of the gold standard and that's a damn tough topic. The case for its negative role in the depression seems cast but what about Nixon's taking us off the standard and the roller coaster ride that followed and we blamed Carter for.<br /> I nominate that topic as one that deserves more study.<br /><br /> Still, is the Fed really the critical issue? I wouldn't want to have a system of independent state banks all playing fast and loose as they see fit. We need effective monetary policy but:<br />1. It can be difficult under a gold standard<br />2. It can be bat shiite crazy under a fiat system<br /><br /> Bit of a mess no? Better heads than yours and mine or Greenspan's for that matter will have to figure this out.<br /><br /> So in a nutshell, why bash the Fed? Why not bash lousy monetary policy?Ducky's herehttps://www.blogger.com/profile/14608115001116619877noreply@blogger.comtag:blogger.com,1999:blog-8897392523653806017.post-12130959102582944502010-02-22T10:22:57.899-05:002010-02-22T10:22:57.899-05:00We haven't learned much since Jackson's ti...We haven't learned much since Jackson's time regarding banking. Or maybe we have learned but choose to ignore the lesson.<br /><br /> We still wrestle with two questions:<br />1. How to finance wars<br />2. What is the source inflation and how can it be controlled.<br /><br /> Central banking is critical to both. Asset bubbles were even worse when multitudes of state banks were issuing currency and speculation was rampant. And a central bank makes war financing much easier.<br /><br /> As we have seen over the last couple decades, central banking is not immune to asinine monetary policy either. Damned if you do, damned if you don't. Must be a flaw in capitalism.Ducky's herehttps://www.blogger.com/profile/14608115001116619877noreply@blogger.comtag:blogger.com,1999:blog-8897392523653806017.post-42967874859532217702010-02-21T22:22:56.046-05:002010-02-21T22:22:56.046-05:00Law and Order,
These just keep getting better.
I...Law and Order,<br /><br />These just keep getting better.<br /><br />I'd known of Jackson's opposition to a central bank-wonder what he'd think of the bailouts? I have mixed thoughts on the Fed-but that's for another time as you've written.<br /><br />His reaction to the Nullification treaty was instructive. Maintaining the union took precedence over states rights.Out of curiosity,I know he had tremendous dislike for the moneyed interests of the Northeast, the Tariff would help them,or help the industrialists who I would expect to number among them.Assuming he continued his feud, his support of the treaty would indicate principle. Or wanting to tweak the British maybe?<br /><br />I appreciate and agree with what you wrote about Indians. Various tribes could be as warlike or peaceful as any other class of people. That Noble Savage thing has always annoyed me, romanticizing a group in that manner IMO actually demeans it. Real culture is interesting in and of itself without well-meant adulation.Osohttps://www.blogger.com/profile/09513535195785731541noreply@blogger.com