Ocasio-Cortez attacks… the New Deal? Every day she seems to achieve a glorious new level of incomprehensibility and stupidity. Does she even realize the New Deal was Franklin D. Roosevelt’s legislation, the guy who is an icon of the Democrat Party? Who knows if she knows? Tomorrow she’ll probably address Einstein’s Theory of Relativity and explain why we need to divest.
Tag: Franklin Roosevelt
John Maynard Keynes died in 1946, but this story puts another nail in his coffin.
The real reason that we recovered was that once WWII was on, FDR was too distracted by it to continue to tinker with the economy.
Conventional wisdom (commonly known as “the wrong explanation”) proffers the Keynsian theory that the government deficit spending required to wage WWII stimulated the economy and eventually ended the depression of the 1930s.
Rand Simberg presents an alternative explanation:
The real reason that we recovered was that once the war was on, FDR was too distracted by it to continue to tinker with the economy, as he had during the thirties, keeping it continually sick (much like a medieval doctor continuing to bleed a patient). He had to get arms production up and could no longer afford all of his random pet nostrums.
Had Roosevelt lived, after the war, he probably would have returned to his damaging tinkering, and in fact Truman wanted to, but the new Republican Congress that came in in 1946 wouldn’t let him, and so finally, after a decade and a half of disastrous Democrat policies, the economy finally recovered, and even boomed. But it doesn’t mean that the solution is a war, or even the “moral equivalent” of one. It means that the solution is sane government.
“Sane government” is an oxymoron. Politics is the path to power and riches for otherwise talentless people. A typical politician is like a hot air balloon: a big bag of gas with a little man underneath.
The first Great Depression ended when WWII forced FDR to get out of the economy’s way. This should be food for thought for the severly malnourished Barack Obama.
-by Bonfire of the Absurdities
Source: Transterrestrial.com
Barack Obama, comedy genius, says FDR was “fiscally conservative”
Stop, Barry, stop. You’re killing us. Our stomachs hurt from laughing. Dy-no-mite, baby, dy-no-mite.
Ladies and gentlemen, let’s have a warm IHateTheMedia.com welcome for a new young comic who’s getting a lot of attention for his comedy stylings. He just flew in from Washington, DC, and, boy, are his arms tired. With no further delay, here he is. Let’s make some noise for Barry “Shecky” Obama:
… FDR comes in, he tries all these things with the New Deal. But FDR, contrary to myth, was pretty fiscally conservative. And so, after the initial efforts of the New Deal and it looked like the economy was growing again, FDR then presented a very severe austerity budget. And suddenly, in 1937, the economy started going down again. And, ultimately, what really pulled America out of the Great Depression was World War II.
Stop, Barry, stop. You’re killing us. Our stomachs hurt from laughing. Dy-no-mite, baby, dy-no-mite.
Roosevelt gave you the New Deal, Obama gives you the raw deal
Time Magazine compared Barack Obama to Franklin Roosevelt, complete with cigarette holder and massive federal intervention. Is it an accurate comparison?
Time Magazine compared Barack Obama to Franklin Roosevelt, complete with cigarette holder and massive federal intervention.
Is it an accurate comparison?
If you believe Lee Ohanian and Harold Cole it may be true, but not in the happy talk, cheerleady way that Time intended.
The two UCLA economists contend that Roosevelt’s interventionist policies actually made the Great Depression even more…well…depressing.
Just like some critics say that Obama’s “stimulus” is making the recession even more…uhhh…recessional.
Source: Reason.tv
