Two UCLA economists say they have figured out why the Great Depression dragged on for almost 15 years, and they blame a suspect previously thought to be beyond reproach: President Franklin D. Roosevelt.
After scrutinizing Roosevelt’s record for four years, Harold L. Cole and Lee E. Ohanian conclude in a new study that New Deal policies signed into law 71 years ago thwarted economic recovery for seven long years.
“Why the Great Depression lasted so long has always been a great mystery, and because we never really knew the reason, we have always worried whether we would have another 10- to 15-year economic slump,” said Ohanian, vice chair of UCLA’s Department of Economics. “We found that a relapse isn’t likely unless lawmakers gum up a recovery with ill-conceived stimulus policies.”
1930 through 1932 is similar to 2006 through 2008, the economy goes from bad to worse. Before 1930 and 2006 the Republican congresses were acting like democrats light. After the democrats won the congressional elections in those two years, the economy continued to tank.
Now with the election of a democrat president in 2008, as in 1932, the things that were done to get us into those messes were/will be continued.
Even if you know nothing about economics, history should at least be allowed to be your guide.
Knowledge has never before been more widespread, but where is the wisdom?
2 comments:
Great close. Knowledge and wisdom are two different things. Knowledge is what liberals claim. Wisdom is what conservatives exercise. Destruction is what liberals produce.
We see that with California, do we not?
Never send a RINO to do an Elephants job!
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