Posted on 03/19/2020 3:32:00 PM PDT by CheshireTheCat
...The stock market of 2020 may not recall the details of what happened under Woodrow Wilson or Warren Harding, but it does reveal how Keynesian policy has exhausted itself. After all, how much lower than zero can you cut interest rates? And how much more can you do than send citizens checks of $2,000? The White House should embrace some pre-Keynesian steps, making it clear that American markets are open for business. Most obvious would be creating individual retirement accounts for Americans and placing cash in them on the condition that they invest the money. That way, they would at least have the consolation of knowing that they own shares likely to go up in the future. A massive intervention that makes shareholders of Americans in this way would both reassure citizens and reset the public mentality...
(Excerpt) Read more at city-journal.org ...
Read 3 of her books. Got half way through. Not interested to read all the way through but she knows her stuff. A Treasury secretary in the making.
So far I’ve only read “The Forgotten Man”, but she did a great job of exposing the grandiose arrogance and ham-handed ineptitude of the Roosevelt administration, as they took what could have been a fairly short Depression (though accelerated by an equally out-of-his-element Herbert Hoover) and stretched it well over a decade longer than it needed to be, until after WW2.
Did you read her Calvin Coolidge book? That's been on my list - is it a worthy read?
Unfortunately I couldn’t get too deep into that one-B4 my time. The Great Society was all about Tom Hayden and his ilk getting together in Port Huron, Michigan. Forgotten Man was tops. Poor Polish kid hung himself because he felt guilty eating his share of the family food. A 1937 depression within a depression.
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