So if the American Economy turns out to be a computer game

[Darius871]

1783.

Or at the very latest 1942, when the SCOTUS finally came out of the closet and decided the power to "regulate interstate commerce" means Uncle Sam can "go ahead and control anything and everything that he damn well pleases so long as it has some tangential ripple effect on economic transactions," in other words the effective death of at least federalism if not constitutionalism itself. Good times.

[Japher]

1997

No real reason. I had a good year then.

[Blaupanzer]

November 1963: "We will have to cancel that trip to Dallas, Mr. President." Not really an economic historic change, but definitely a change in fiscal history as Johnson would try guns and butter. Worth noting: Johnson in 1968 was the last President to run a budget surplus until Bill Clinton in 1999.

[Blaupanzer]

The repeal of Glass-Steagall didn't cause the current crisis, so I don't see the point of re-instituting it.

The Glass-Steagall Act addressed more than the separation of commercial and investment banks. The withdrawal of the regulations and corresponding monitoring activity supporting the Act did in fact point straight at the scale of this crisis. Those regs prevented out-of-hand piling up of loan vehicles based on the value of loan vehicles based on the value of loan vehicles, etc. Without that piling up, the scale of this recession would be similar to most of the recessions since 1957.

[Kidlicious]

Keep it moving forward! No turning back.

[Blaupanzer]

In the economy as a multiplayer computer game, some players would be winning as stock prices dropped, an upside down incentive. After all, there are only two ways the market can move, so the game designer would be wise to let the process produce winners no matter how the market ended.

[Naked Gents Rut]

Without that piling up, the scale of this recession would be similar to most of the recessions since 1957.

Nice attempt to sidestep the 3 recessions after WWII but before 1957 that were worse than this recession has been despite happening under Glass-Steagall regulations.

[Arrian]

I think 2000 is a good place. Things to avoid: crazy low interest rates, stupid tax cuts, disinterest in regulation (mostly enforcement of existing stuff) and, of course, a particular costly and unnecessary war.

For the minimalist (1 fix) approach,

Rewind to 2003 and increase interest rates.

would probably be ok.

-Arrian

[Ben Kenobi]

Nice attempt to sidestep the 3 recessions after WWII but before 1957 that were worse than this recession has been despite happening under Glass-Steagall regulations.

Worse recessions? This is the largest drop in the DOW since the great depression. 53 percent is greater then even the 1937-1942 drop of around the same.

If you mean unemployment, then sure we aren't back to the 1980's yet, but we'll get there.

[Ben Kenobi]

Interestingly, Obama's drop of 20 percent since Inaugeration day is the worst performance of any president since Wilson, who is well known for his business friendly policies.

Wilson, however didn't have the benefit of a 30 percent drop after his election too.

[Rufus T. Firefly]

Never mind; misread the post.

[Darius871]

Good Christ, you're amazing! All that in one sentence! You're like some kind of idiot savant, without the idiot part.

For the record:

1) Obama's approval rating in non-Internet polls conducted around inauguration day ranged from a high of 67% to a low of 60%; Obama's approval rating in the 5 most recent polls that have asked the question ranged from 63%-58%. Can you actually count to 20, Ben? Hint: use all fingers and all toes.

2) In 1912, Wilson's approval rating actually dropped -- well, no one knows, because no one actually measured presidential approval ratings until well into the 1930s, long after Wilson had left office.

I'm still asking, Ben: are you a moron, a liar, or both?

[Riesstiu IV]

Why start over? Just open the cheat menu and lower military spending by setting each military unit's home city to "none" and give ourselves more gold. Also, rush buy the spaceship to Alpha Centauri and win a space victory.

For kicks, change the Vatican civilization's leader from "passive" to "aggressive and expansionist" and give him a stack of tanks and infantry.

[OzzyKP]

The trouble is Congress really does think there is a cheat menu they can open up to give us more gold.

[Solomwi]

Good Christ, you're amazing! All that in one sentence! You're like some kind of idiot savant, without the savant part.

For the record:

1) Obama's approval rating in non-Internet polls conducted around inauguration day ranged from a high of 67% to a low of 60%; Obama's approval rating in the 5 most recent polls that have asked the question ranged from 63%-58%. Can you actually count to 20, Ben? Hint: use all fingers and all toes.

2) In 1912, Wilson's approval rating actually dropped -- well, no one knows, because no one actually measured presidential approval ratings until well into the 1930s, long after Wilson had left office.

I'm still asking, Ben: are you a moron, a liar, or both?

I thought he was talking about drops in the Dow (which I haven't, and won't, fact-checked), not in approval ratings.