Good article.
More factual data:
FDR’s policies prolonged Depression by 7 years, UCLA economists calculate
http://newsroom.ucla.edu/portal/ucla/FDR-s-Policies-Prolonged-Depression-5409.aspx
“After scrutinizing Roosevelt’s record for four years, Harold L. Cole and Lee E. Ohanian conclude in a new study that New Deal policies signed into law 71 years ago thwarted economic recovery for seven long years.
“Why the Great Depression lasted so long has always been a great mystery, and because we never really knew the reason, we have always worried whether we would have another 10- to 15-year economic slump,” said Ohanian, vice chair of UCLA’s Department of Economics. “We found that a relapse isn’t likely unless lawmakers gum up a recovery with ill-conceived stimulus policies.”
In an article in the August issue of the Journal of Political Economy, Ohanian and Cole blame specific anti-competition and pro-labor measures that Roosevelt promoted and signed into law June 16, 1933.”
Note that Obama is planning to institute exactly the measures that FRD introduced, which proplonged the depression.
Yes, but even that didn’t tell the real story, after lengthening the depression for seven years it was only WWII that actually refocused America, restarted it’s industry and stopped the depression in it’s tracks. If it hadn’t been for WWII, we would still be living in Kenyan huts on $12 a day.
After WWII, American industry was then turned onto consumer goods, and improving life for all.
Ronald Reagan,’s economy, in eight yeras, created 15 million good paying jobs, proving that the correct formula is trickle down economics, not trickle up poverty.