Lest We Forget
It seems we've been here before … You might appreciate this cartoon from the Chicago Tribune, 1934. The government actions following the 1929 Crash made the economy worse, not better. The result was a down cycle that probably would have worked out in 3 - 4 years, but became a 10-year depression due to government intervention.
The more things change, the more they stay the same! Those who fail to heed the lessons of history are doomed to repeat them. A review of the economic history of the 1930's demonstrates that Roosevelt's spending programs failed to turn the economy around. Unemployment temporarily dropped and then rose again in the late thirties to more than 15%. It took World-War II to reverse that trend.
Comment: Ah, the lessons of history. Are we looking for the next world war? May be what it takes to finally resolve the issues of Islamic terrorists and worldwide chaos.
[Undocumented, received 5/26/09]
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