Prologue:
I do NOT believe we are entering the second coming of the Great Depression. The data to date do not even indicate a Recession. And, the economic forecast calls for continued growth in real GDP throughout 2008 AND 2009.
But, I KNOW that:
1) The present mess was created by government intervention.
2) MORE government intervention will ONLY make it WORSE and last LONGER!
3) Ergo, the analogy presented below is valid.
(I inserted the link)“Once again, we have a financial crisis, and once again, the American lemmings are rushing off the cliff to our destruction, running to our nanny government for help. With some combination of the media, creative historians, misinformed voters, our government monopoly schools, and opportunistic politicians, we just never seem to benefit from the lessons of history.
We all know that there was a financial crisis starting in 1929. We know that President Franklin Delano Roosevelt cared about the people and used the Federal government to try to end their problems, and we all know that the Great Depression ended many years later in the 1940's. Unfortunately, only a few economists and their students know just how counter-productive FDR's actions were and how much his intervention prolonged the misery of the American people.”
No comments:
Post a Comment