Quote:
Originally Posted by Anonymous Political Junky
Whatever you say! LOLOLOLOL Lots of economists also say that it is wasteful spending and all it will do is to prolong the recession into a depression, much like what FDR did. Read real history and then get back to me.
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Ok! I'm getting back to you.
Like you, I've heard the ridiculous assertions that FDR "prolonged the depression."
So, please feel free to cite a few of these respected economists you claim are saying this about FDR and the depression. School me with some "real history."
Thing is, it's only coming from whackaloon talking heads who never mentioned anything of the sort until it looked like a good daily talking point in the past month to get the lemmings in motion.
If you read "real" history, you'll learn a few things that may not be in the dittohead handbook.
Things like:
1. The depression plunged to its lowest depths when president Hoover made the decision to "let the markets decide" and took a hands off approach. Hoover held the view that government spending wasn't effective in addressing the problem. He was then soundly trounced by FDR in the following election. And the GOP sat on the political sidelines for the next couple of decades.
What's that old saying about history repeating itself?
2. Even though the depression was persistent, FDR's policies did lower unemployment considerably over his first two terms. There are economists who also say that the depression lasted so long because FDR was
too timid in his spending and that if he'd loosened up the purse strings even more, it would have been beneficial.
3. The US (and most of the rest of the world) emerged from the depression with entry into WWII. And
that little event resulted in an unprecedented increase in federal spending.
OK, ball's on your side of the court, professor.