Posted on 10/11/2011 4:41:08 AM PDT by scottfactor
An old thread with a 1939 conservative booklet (”The Revolution Was”) about FDR and the New Deal. It’s all happening again. It is a long booklet, but here is an excerpt (still long) as pertains to the “evil bankers” and “obscene profits”.
http://www.freerepublic.com/focus/f-news/2185147/posts
In his first inaugural address, March 4, 1933, the President said: “Values have shrunk to fantastic levels; taxes have risen; our ability to pay. has fallen;... the withered leaves of industrial enterprise lie on every side..... Yet our distress comes from no failure of substance.... Plenty is at our doorstep, but a generous use of it languishes in the very sight of the supply.
Primarily this is because the rulers of the exchange of mankind’s goods have failed,... have admitted their failure and have abdicated. Practices of the unscrupulous money-changers stand indicted in the court of public opinion, rejected by the hearts and minds of men.... They know only the rules of a generation of self-seekers.... Yes, the money-changers have fled from their high seats in the temple of our civilization. We may now restore that temple to the ancient truths. The measure of that restoration lies in the extent to which we apply social values more noble than mere monetary profit.”
There was the pattern and it never changed. The one enemy, blameable for all human distress, for unemployment, for low wages, for the depression of agriculture, .... for want in the midst of potential plenty — who was he? The money-changer in the temple. This was a Biblical symbol and one of the most hateful. With what modern symbol did this old and hateful one associate? With the Wall Street banker, of course; and the Wall Street banker was the most familiar and the least attractive symbol of capitalism.
..... “We cannot go back to the old order,” said the President. And this was a very hateful counter symbol, because the old order, never really defined, did in fact associate in the popular mind with the worst debacle in the history of capitalism.....
Large profit as such becomes therefore a symbol of social injury, merely because it is large; moreover, it is asserted that large profit had long been so regarded by the government and penalized for that reason.
Of all the counter symbols this was the one most damaging to the capitalistic system. Indeed, if it were accepted, it would be fatal, because capitalism is a profit and loss system and if profits, even very large profits, are socially wrong, there is nothing more to be said for it. But it was a false symbol, and false for these three reasons, namely: first, there is no measure of large profit; second, large profits are of many kinds and to say simply that large profits are “of course made at the expense of the neighbors” is either nonsense or propaganda, as you like; and; in the third place, the history is wrong....
So, what the New Deal really intended to do, what it meant to do within the Constitution if possible, with the collaboration of Congress if Congress did not fail, but with war powers if necessary, was to REORGANIZE AND CONTROL THE WHOLE ECONOMIC AND THEREFORE THE WHOLE SOCIAL NETWORK OF THE COUNTRY.
And therein lay the meaning — the only consistent meaning — of a series of acts touching money, banking and credit which, debated as monetary policy, made no sense whatever.
Wow. Have you made it out of high school yet, big guy? You're long on rudeness and short on truth.
In their zeal for profits, multi-national corporations who have moved our manufacturing base to communist China have forgotten one little detail. And that is that China is a communist country. They are not driven by the profit motive except as to how it advances their ideology. They heavily subsidize any industry that can lure Capitalist corporations to their country...even if the Chinese company loses money...(see U.S. paper industry.) China is a threat to the U.S. and if we had to “gear up” for a conflict with them over our numerous differences how will we do so with all our industry nationalized by China, which will be the first thing they do. We learned nothing from our Cuban mistake.
Our multi-national corporations are aiding our enemies.
And China knows we have pledged never to use nuclear weapons first. Think of what a conventional war with China would look like.
China is a great enemy of the United States. Our “leaders” have sold us down the river with unbearable taxation and regulation on our corporations and factories, as well as unconscionable “trade agreements.” Our businesses cannot compete with countries like China.
The communist enemies within our own government and entities like the EPA have done this to our nation.
We have let them, and now we reap the evil harvest.
Globalism is what has sold our own citizens down the river.
Making deals with Dictators and Communists all over the world for monetary profit. Is that what a patriot should endorse?
Then we demand that they rise to our standards...not that we lower ourselves to theirs.
Yes!
Making deals with Dictators and Communists all over the world for monetary profit. Is that what a patriot should endorse?
Of course not! Who among us patriots endorses it? I certainly don't.
Then we demand that they rise to our standards...not that we lower ourselves to theirs.
Of course. And consider common sense tariff policy.
On Monday, People’s Daily, China’s leading newspaper, stated it was time for Beijing to consider using its “financial weapon” against the United States.
The Communist Party’s flagship publication suggested that the Chinese government “directly link” its purchases of US Treasury debt to Taiwan arms sales and “require” ratings agencies to downgrade the United States in order to force up interest paid to China. China should also “launch limited trade sanctions” against states whose representatives in Congress supportTaiwan. “China-US relations will always be constrained by these people and will continue along a roller coaster pattern if China does not beat them until they feel the pain,” the paper said.
The context for the stinging piece in the party’s self-described mouthpiece may be proposed arms sales to Taiwan, but the general message is clear: China should use its holdings of American obligations to accomplish its many geopolitical aims. “In fact, China has never wanted to use its holdings of US debt as a weapon,” the paper noted. “It is the United States that is forcing it to do so.”
We have found common ground.
Good day.
I first posted that Garrett essay here on FR in 1998 or 99.
That’s a good article. Thanks for the link!
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