Posted on 12/14/2011 4:28:27 PM PST by TBBT
http://www.infoplease.com/ipa/A0104719.html
As for Hoover, it should be noted that FDR's own son said his father's economic policies were basically Hoover's, simply more sweeping in scope. The man FDR should be compared to is not Hoover, but the much maligned Warren Harding.
Harding faced a severe downturn in 1920. Instead of making things worse, as Hoover, FDR, and now Obama have, he cut the federal budget nearly IN HALF between 1920 and 1922. Curiously, things got better very fast and the Roaring Twenties was on. Easy credit caused the boom that popped in 1929. It's the downside of capitalism that there are boom and bust cycles. The government trying to change that is like old King Canute trying to sweep back the tide. The meddling only makes things worse.
As for the idea that the Depression did not really end until around 1946- 47, I heard that on the radio from someone whom I cannot recall exactly. Maybe it was Thomas Sowell,or Walter Williams. The thought is based on the fact that you cannot judge the health of an economy when all it's resources were being sucked out by the military. Who knows what the demand for new cars was when you couldn't buy one. Fuel, metal, foods of all kinds, photographic film, just about everything was rationed. It was not until AFTER New Deal and wartime mechanisms had been lifted that the economy revived in a normal way.
As for the situation in 1940, you have to remember how bad the downturn was in 1937- 38. The WPA and other makework schemes definitely put people to work. That just didn't do any good for anyone not in those programs, just as today's stimulus has done nothing for those not getting the money. Industry was still failing. By 1940 companies like Northrop were making planes for Norway and Marmon Harrington were building tanks for the Dutch. Our own government was increasing the U.S. military. But the rest of the economy was still sluggish.
Here's an article for you:
To highlight just some of the things FDR did that would make him a monster to academia if he had been a Republican were:
Ramming through numerous unconstitutional measures.
Attempting to steamroll the Courts limitations by packing the bench with additional members who would do his bidding.
Outlawing the possession of a fundamental commodity that had been a staple means of trade since ancient time- gold.
Broke all American tradition to run not three, but four times. He in essence set himself up literally as President for life.
Forced relocation of U.S. citizens without trial.
As for where did all the money come from? Please check Newt's bio/info - even at Wiki - to see the number of books written/films produced by Newt. And check the names; you cannot MISS a Patriot author here.
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