Those who do not learn from History are bound to Repeat It,.....
From the article "How Bad Was The Great Depression?" by Tyler Durden printed on Zero Hedge
To properly understand the events of the time (and to put them in today's context), we believe, like the FEE, that it is factually appropriate to view the Great Depression as not one, but four consecutive downturns rolled into one. These four “phases” are: I. Monetary Policy and the Business Cycle; II. The Disintegration of the World Economy; III. The New Deal; IV. The Wagner Act. The first phase covers why the crash of 1929 happened in the first place; the other three show how government intervention worsened it and kept the economy in a stupor for over a decade. The following brief clip and article shine a light on how bad things were and what was done in the name of 'helping' - there are many shocking analogies for current government-inspired acts from taxation to protectionism to money-supply 'tricks'.
Everyone has heard the sage observation of philosopher George Santayana: “Those who cannot remember the past are condemned to repeat it.” It’s a warning we should not fail to heed.
Wednesday, October 3, 2012
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Great historical info... but the voice over is a bit of a #$%#@ bag.
ReplyDeleteI can't speak to the historical accuracy of the whole video, but I do know Roosevelt didn't lose any election. He died, and his VP Truman took over.
ReplyDeleteYou'd think someone claiming to be a history professor would have caught that...
You'd think if someone had REALLY done their homework and figured out all these percentages and figures would have also noticed that Truman was Roosevelts VP, and continued his fiscal policies for the two terms following Roosevelts death...