Bush: "I Had to Destroy Free Market to Save Free Market"

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Number 2
Number 2
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Conspirator for: 18 years 26 weeks
Posted on: December 31, 2008 - 11:50pm

Following is discussion about the post titled: Bush: "I Had to Destroy Free Market to Save Free Market".
Below is the discussion so far. Feel free to add your own comments!


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polman
Number 517
Conspirator for: 15 years 16 weeks
Posted on: January 6, 2009 - 4:28pm #1

Funny how your take on it is that nothing the federal government can do can ever help. FDR saved the market by stopping it from going haywire and by keeping people productive while the market corrected itself.


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bill_mcgonigle
Number 213
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Posted on: January 29, 2009 - 9:06pm #2

FDR made the economy worse.  What finally pulled the economy up was the money supply was expanded by the Fed and the war provided new jobs.  See Milton Friedman for analysis.


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cathleeninnh
Number 443
Conspirator for: 15 years 31 weeks
Posted on: January 30, 2009 - 11:07am #3

Something doesn't sound right about that, Bill. I see how FDR's work projects don't help the economy, but going to war and expanding the money supply is what we have been doing recently. I don't have high hopes for that to turn things around.


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peppermint_pig
Number 506
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Posted on: January 30, 2009 - 1:41pm #4

FDR was terrible.

 

http://jimbovard.com/blog/2006/12/06/the-great-gold-robbery/

 

"No American president has rivaled Roosevelt in his denunciation of what he called “economic royalists.” He sought to “master” the “forces of selfishness” by making government master of every person’s private financial destiny. Like today, the citizen who wanted to retain control over his own life was selfish, while the bureaucrat who wanted to seize power over the citizen was automatically presumed benevolent. One of the most controversial New Deal policies was the seizure of citizens’ gold."

 

"Roosevelt’s gold seizure was based on the doctrine that in order for government to save the people, it must be permitted to breach all the promises it made to the people. According to modern conventional wisdom, government has no obligation to do justice or treat any specific individual citizen fairly—instead, government’s only duty is to achieve “social justice” or some other abstraction perfectly suited for evasion."

 

 

__________________

Vigilia Pretium Libertatis


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Number 91
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Conspirator for: 16 years 15 weeks
Posted on: March 2, 2009 - 9:41pm #5

The economy was saved when the government cut spending by 2/3 after the war allowing an economic boom.  It had nothing to with FDR or the War!  Spending for spendings sake never works.