Jolting the Economy – Thomas Sowell @ Townhall
In fact, I found this paragraph interesting:
In the light of history, this is a faith which passeth all understanding. Even in the case of the Great Depression of the 1930s, increasing numbers of economists and historians who have looked back at that era have concluded that, on net balance, government intervention prolonged the Great Depression.
This conclusion seems to indicate that our government CANNOT do everything for us. I wish everyone could grasp some understanding of that fact. If we did, we would realize if our government step aside, it would allow US to do the necessary things to make this economy go. It is a wonder that the GOP could not articulate this point in the past election.
Yet, Mr Sowell continues our history lesson on the Great Depression. Mr Sowell mentions that the Great Depression has been the longest lasting depressions of all depressions this country has experienced. But, here is the kicker on FDR affect on addressing the problems of the depression:
With the passing years, it has increasingly been recognized that what FDR did was largely a further extension of what Hoover had done. Where Hoover made things worse, FDR made them much worse.
Most of the current generation do not realize it was World War II that got us out of that depression. Now, it seems that history is going to repeat itself, just like a TV re-run.
During the election, I found many of Mr Obama policies seem to be re-runs of past policy failures. This is something which I am not looking forward to experience, but I am sure I will. Our politicians, regardless of their party affiliation, created this mess in the first place and now the Democrats are poised to make it worse.