1934 Political Cartoon
Does this 1934 Chicago Tribune political cartoon ring familiar at all?
Now you may object that it worked out for America, but did it? Eleven years later, America had just finished engaging in the greatest world wide slaughter in history - all due to the rejection of the market economy by most governments. America was still in a horrible Depression, and wouldn't recover until government spending was slashed by 80% from 1946-1947. (Do you really believe that engaging in mass homicide pulls a country out of Depression?)
Even the word Depression is a political manipulation. Before Hoover, it was called a Crash. You can't call it a Crash and then claim it will be fixed with central planning. You have to call it a Depression. So under Hoover, the name was changed and Hoover started make-work programs, encouraged businesses to keep wages high, and started many interventions that FDR would continue and expand. Meanwhile, FDR ran on the promise of lower government spending and lashed out at Hoover's fiscal irresponsibility during the 1932 campaign. Once in power, he confiscated American's gold, devalued the dollar by more than half. and paid farmers to burn their crops while Midwestern families starved. He's a true hero, isn't he?
Have a profitable week!
David in Qatar