The Great Depression

The Great Depression was magnified and extended by FDR's Keynesian policies.

The Great Depression wasn't all that great. The left thinks the Great Depression was caused by capitalism/Wall Street and Hoover fiddled while Rome burned. The facts show the Democrats had magnified the depression for political gain, and FDR and the New Deal made things worse. It was the war that saved us, not FDR

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~ Aristotle Sabouni
Created: 2019-04-04

Alt-Economics

Left	Right
The left believes that the Great Depression was caused by capitalism/Wall Street and Hoover fiddled while Rome burned. Then FDR came in, gave us the new deal, and everything was good because he saved the day. All bunk.	What happened is Hoover saw some of it happening in New York, and warned FDR about it (who was in NYC), but FDR didn't react. When it crashed Hoover did spending and wanted to do more to lessen the bank failures, but the Democrats resisted any mitigating factors because they knew ruination would lead to regime change. FDR gave us the New Deal (copying Hoover's policies), and it didn't help, and in fact contributed to the second depression (depression in a depression as it was called), so he offered a New New Deal, and that didn't help either. (Government spending and dramatic changes scares investors/businesses). Then the war happened and saved FDR. When the war ended the Keynesians wanted another New Deal to prevent a post war recession, but the country had grown and resisted. Instead of the Keynesian predicted depression, we got a post war free market boom instead.

We'd had many depressions before that, many triggered by the Federal government meddling with trade or monetary policy, and we bounced quickly back within a year or two. What made the Great Depression so grand, was that the Federal Government not only caused it, but tried to fix it with Keynesian spending. That extended it from 2 years, to long enough to have another depression in a depression.

FDR: 1930 - Depression, First Term and the New Deal[edit source]

Main article: FDR: 1930 - Depression, First Term and the New Deal

When it comes to the depression: FDR fiddled, while Rome burned. Or worse. He maligned Hoover, then copied him. He undermined the banks to make things worse while Hoover was a lame-duck, so that he could take credit for the rebound. FDR's New Deal magnified the problems, and caused the recession in a recession and turned a 30% correction into an 80% great depression.

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The Left Lies
When the truth disagrees with your agenda, you can grow (change) or lie. The left usually chooses the latter.

Capitalism
America and freedom are founded on Capitalism; the idea that you can own property (the means of production).

Alt-Economics
These are the lies (alternate economics) that are told by Fake Economists of the left, and repeated by their rubes and polemics.

Issues
These are issues that people fight over... current events or consistent divisions.

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Book: The Forgotten Man: A New History of the Great Depression (2007) by Amity Shlaes
The book is an analysis of the events of the Great Depression, criticizes Herbert Hoover and the Smoot-Hawley Tariff for their role in exacerbating the Depression through government intervention. It criticizes Franklin D. Roosevelt for erratic policies that froze investment and for failing to take the steps needed to stop the Depression. Shlaes criticizes the New Deal for extending the length of the Depression and for its effects on individuals. The book points out that members of FDR's "Brain Trust", including Rexford Tugwell of Columbia University, had connections to the Soviets and their interest in central planning, and it got the outcomes that central planners often give us.

Wikipedia:The_Forgotten_Man:_A_New_History_of_the_Great_Depression

Tags: Left Lies Capitalism Alt-Economics Issues