Was Andrew Jackson responsible for the Great Panic of '37

[Farbin Kaiber]

So, a great meltdown methodically defeated the financial/real estate market and all the way down to Main St. by cause of land speculation and varied currency floating around the nation. It lasted until 1843. It is our nation's second longest as well.

It's been said that because of his stance against the Second Bank of the United States this crisis was created.

So, lets not blame Ben B., or Alan G., but get to the root of when we decided to remove Government oversight, and allow the private market to take over the financial institution.

Look what happened before.

[E30Kaiser]

If Andrew by god Jackson heard you spouting this libelous text, he would challenge you to a duel. And AJ always hits his target!

But in principle I agree fully and without reading any of that.

[Be30mer]

Throughout the time period of 1829 to 1837, the Jacksonian Democracy thrived as the political party under the presidency of Andrew Jackson. This party was formerly known as the Old Republican party, but became the modern Democratic Party. Based on principles of political democracy, individual liberty, and equality of economic opportunity, the Jacksonian Democrats viewed themselves as the guardians of the United States Constitution. However Jackson did not completely follow these characteristics of his political party during his presidency. Although the party generally adhered to those characteristics, some of Jackson’s policies contradicted and repealed the principles of the Jacksonian Democracy therefore providing a rift in his political prowess.
In economical terms Andrew Jackson was striding towards equality by destroying the Bank of The US. By employing the idea that he would end the B.U.S in his presidency, Jackson became reelected in 1832, just in time to veto the renewal of the charter of the Second B.U.S which was set to expire in 1836. This veto was justified in Jackson’s veto message which stated that the bank did not spread wealth and gave too much power to the rich. Furthermore, Jackson argues that the bank has too many foreign involvement, and that its not safe to have federal s funding in a situation as so. Although this destruction of the Second B.U.S. adhered to the party’s policies, it did not help the country, and actually hurt the economy. The destruction of these banks was achieved by Jackson pouring the money out of the BUS and into his pet banks, which failed as well. In addition, the end of payment in specie meant that only paper money was produced and inflation occurred on grand scales. Furthermore, Jackson had lessened the debt that the US owed to other countries significantly, however, when the Panic of 1837 struck, the country’s debt increased tenfold in just a year.
Although the Jacksonians viewed themselves properly in terms of economics, they failed to do so in regards to guarding the Constitution. The Jacksonian Democrats believed in Strict Construction of the Constitution, yet Andrew Jackson inferred the Constitution loosely when he enforced policies such as Indian Removal and the Spoils System. Indian Removal included the wide ranged removal of thousands of Native Americans from the Old Northwest to a region in Oklahoma designated as Indian territory. For instance, the Trail of Tears was a forced journey under the policy of Indian Removal for ten thousand Cherokee, where the majority either died from poor health or exhaustion. Jackson’s policy in the Indian Removal Act reflected the political might Jackson held and how he was not held accountable to even Congress, which passed the issue under much debate. Had Jackson adhered to the guarding of the Constitution, Indians might still be living in vast quantities in the Ohio and Indiana region, without ever being shoved aside, neglected, and even discriminated. Furthermore, Jackson neglected to guard the Constitution by allowing the Spoils System to hold any form of power. This corruption can be ultimately tied and compared to Corrupt Bargain of 1824 between Henry Clay and John Adams and portrays a reversal and hypocrisy of policies and beliefs. In addition, the Acts and Resolution of South Carolina during the Nullification Crisis provide an example of how Jackson did not conform to his party’s description of themselves. The tariffs that instigated the issue were merely created to make John Q Adams more unpopular, however, while enforced under Jackson’s rule, it made the Jacksonian Democracy strain to accept the contradiction of their own views of themselves. This Acts and Resolutions in South Carolina show how Jackson has not displayed political democracy by conveying the South’s opposition to Jackson’s actions in office. These examples of Jackson’s breech of the Jacksonian Democracy’s view of itself illustrate the extent to which it differed in terms of guarding the Constitution and political democracy.
My own words^^^

[joshh]

It was Bush's fault.

[george graves]

Hey, I'm a simple guy - I don't know about all this political jigger-jabber.

What I do know, is that Andrew Jackson's skid plates suck balls.

[Fidhle007]

But someone has one with polkadots...

[LBJefferies]

It was Bush's fault.

Most of this countries problems at this moment can be directly attributed to the actions of GW. The man is a serious piece of shit. By far the worst president we have ever had. If you can't see it then you're probably just a partisan hack.

[george graves]

Why do you say that? Cause he hates black people?

[joshh]

most of this countries problems at this moment can be directly attributed to the actions of gw. The man is a serious piece of shit. By far the worst president we have ever had. If you can't see it then you're probably just a partisan hack.

proof!!!

[Victell]

Most of this countries problems at this moment can be directly attributed to the actions of GW.

damn dude, GW was a damn tragedy, but even I dont blame everything on him.

[mbonder]

Most of this countries problems at this moment can be directly attributed to the actions of GW. The man is a serious piece of shit. By far the worst president we have ever had. If you can't see it then you're probably just a partisan hack.

Anyone who makes a statement like this clearly has no grasp of United States history. Although I was, and never will be a fan of GWB, there have been far worse presidencies. Check out the administrations of Andrew Johnson (took office after Lincoln), who royally fucked up reconstruction and essentially created the animosities that would be harbored well into the 1960s (yes that's almost a century of social destruction), or how about Ulysses Grant. He probably had the most corrupt administration ever, with handouts to anyone and everyone.

[chadthestampede]

You can call me Aaron Burr for the way I'm dropping Hamiltons.

[scabzzzz]

Dont fuck with Old Hickory bro. He is my cities hero. In fact, most everything in Nashville is built off a memory of him. FUCK YOU FARBIN

[Farbin Kaiber]

Most of this countries problems at this moment can be directly attributed to the actions of GW. The man is a serious piece of shit. By far the worst president we have ever had. If you can't see it then you're probably just a partisan hack.

Because GWB changed the laws controlling Fannie Mae and Freddie Mac back in Clinton's second term, right?

[mrsleeve]

Because GWB changed the laws controlling Fannie Mae and Freddie Mac back in Clinton's second term, right?

yeah that and he established Fannie durring FDR 2ed term

and Freddie was set up by congress durring Nixon (because it worked so well the 1st time )

Both of which were used to hid US debt off the offical books, by buying up US Treasury notes (IIRC).


Oh yeah hes also responsible for the Community Reinvestment Act, that forced Fannie and freddie to begin to loan to sub prime barrows as a much larger percentage of total loans. Because its not fair that irresponsible people that dont pay their bills cant own a home or get a mortgage. Oh wait that was jimma peanut