Thursday, March 19, 2009

UCLA Economists: FDR extended the Great Depression

via Michelle Malkin and Ed Morrissey
"The [1930s] economy was poised for a beautiful recovery, but that recovery was stalled by [FDR's] misguided policies.”
“The fact that the Depression dragged on for years convinced generations of economists and policy-makers that capitalism could not be trusted to recover from depressions and that significant government intervention was required to achieve good outcomes,” Cole said. “Ironically, our work shows that the recovery would have been very rapid had the government not intervened.”
We have the data. The UCLA study was completed in 2004. 

Every serious person can see the tax cuts of JFK, Ronald Reagan, and GWB worked; every person can see the Laffer Curve is valid. 

Every person can see the U.S. Government spending of the 1930s and 1970s did not work. For reference, see Amity Schlaes, author of "The Forgotten Man".  

Every person can see the Japanese Government spending of the 1990s did not work.  The Japanese Government POURED infrastructure spending into their island: only to see their economy continue to flounder. Japan's recovery began after the government changed course and tightened monetary policy.


A metaphor of tightened monetary policy:

Paris represents the spending of FDR, USA in the 1970s, Japan in the 1990s, and Barack in his first 60 days.

Paris would benefit from tightened monetary policy.

She could purchase equally attractive (from a man's perspective) clothing and accessories from Target.

She would be better off in a Honda Accord. She could wreck and crash it all around a parking lot without incurring quite so much repair cost. I would recommend an old truck (which she could really crash around), but want to be sensitive to her preferences and to her image of herself. Also: I'm not a Libertarian.

Honda Accord it is. Lets make it a birthday gift. Bow on top.

Am pretty sure they sell different kinds of bows at Target.

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