Thursday, July 22, 2010
Remedy For The US Economy
From The American Conservative, by Thomas Dilorenzio, Central banking and militarism are intimately linked.
A history of banking and the boom and bust cycle explained by a professor of economics. To me one tidbit stood out…
The boom created by the Fed’s war financing inevitably caused a bust—the Depression of 1920, the first year of which was even worse than the first year of the Great Depression of the 1930s. Gross domestic product declined by 24 percent from 1920-21, while the number of unemployed Americans more than doubled, from 2.1 million to 4.9 million. The Great Depression of 1920 only lasted one year, however, thanks to President Warren Harding’s inspired policy of cutting both government spending and taxes dramatically.
WAIT! WHAT WAS THAT?
The Great Depression of 1920 only lasted one year, however, thanks to President Warren Harding’s inspired policy of cutting both government spending and taxes dramatically.
Obama has done the opposite, how is that working out America?
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