Posted on 08/04/2011 3:49:15 PM PDT by Lou Budvis
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."
(Excerpt) Read more at newsroom.ucla.edu ...
Understand, some people just don't thrive without a crisis in the midst.
It's a contrived and promoted status.
Amity Shlaes....
She stole my heart with her intellect and writing savvy alone. : )
Those two economists will be landed on like heretics. FDR is the Messiah to Democrats and their apparatchiks in academia.
We learn from history that we learn nothing from history.— George Bernard Shaw
We can all second guess, but we all know the reason. FDR’s policies didn’t do squat. No one wanted them, he enforced them. (He’ll pad the supreme court). Then WWII happened, FDR was a hero. He was a failure, before the war happened. Then all this crap happened. He forced it all on us. We’ve been realizing all this since. We’ve been pretending the history of WWII, like slavery, nevern was a democrat endorsed issue, it never happened. FDR was the worst president ever. He gave us Obama.
FDR Treasury Secretary Henry Morgenthau admitted the New Deal had failed. “We are spending more than we have ever spent before and it does not work,” he declared in 1939. “We have never made good on our promises...I say after eight years of this Administration we have just as much unemployment as when we started...And an enormous debt to boot!”
http://www.humanevents.com/article.php?id=29646
Save & Read
bump
It’s going to take 100 years to filter through Obama’s crap.
That story/study is 7 years old. An oldy, but a damn goody. I always love to pull that sucker out in online debates.
They also did one for Hoover, which goes right along with her book: http://newsroom.ucla.edu/portal/ucla/pandering-to-labor-caused-great-91447.aspx
(I don’t remember the above link/article being from 2009, I thought it came out around the same time the FDR study came out, but who knows.)
Damn right FDR was the worst President ever.
Failed economic policies; engaging in provocative behavior against Germany and Japan, yet failing to re-arm so the nation would be ready for war on 12/7/41; showing such weakness to the Axis that the Japanese felt secure enough that they could sail half way across the Pacific and blow up our Navy on our own soil; throwing innocent Japanese-Americans in jail without due process or good cause; giving Poland over to Soviet tyranny even though the war started in Europe to save Poland from German territory; etc.
bookmark
In other words, it's a shoe-in.
they first reported this, off the top of my head, in early 2000’s.
there’s a citation concerning them in 2004:
http://en.wikipedia.org/wiki/Criticism_of_Franklin_D._Roosevelt
amity schael’s book came out in 2007.
How about 12 yrs rather than 7.
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