The New Deal is a paradigmatic case of how to turn a downturn into a depression. That US leaders regard this as a model to follow does not speak very well of their economic literacy, and it doesn’t bode well for our future.
On the other hand, if you want to see how to handle a crisis, consider the Panic of 1819. Never heard of it? That’s because it came and went, and that’s because the government did nothing about it. FULL ARTICLE
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Nah….surely this is some other country of which you speak
I have never read some of these details of the NRA. Very interesting (read: scary) stuff.
Considering that those policies were actually enforced, and the patterns of government escalation (more is better), it makes the near future appear very dark indeed. There may yet be a silver lining.
Mr. Rockwell, I wonder if you aren’t giving our “leaders” too much credit: I fear that they know exactly what they’re doing, in the knowledge that crisis–real or manufactured–induces the people to give them power.
I wouldn’t put it past them to “solve” this “crisis” with another world war.
The most recent issue of “The Economist” has a picture of Paulson as Uncle Sam saying “I Want Your Money!†It might be ironic (possibly intentional) that they chose to depict Paulson as one of the most iconic visages from America’s fascist past. I fully believe that fascism is on the rise in the world and we will see further degradation in our freedoms to capitulate to the Nanny State.
Sandwich –
Your astute assertion — that the “leaders” know exactly they are doing — and Mr. Rockwell’s argument are both well said. The leaders still feel they can solve the problem under old assumptions and theories about the economy. Let’s see…have we seen any proposal to shift away (even incrementally) from the Keynesian model? As long as the leaders have the long arm of a powerful and centralized government at their disposal (and, boy, have we seen it over the past weeks), it WILL happen again.
Consider this: we are caught in an experiment — dare I say time warp — started in the early 20th century by social engineers (statists, socialists, you name it). Shrouded in good intentions and a dash of utopian zeal, we fast forward to the early 20th century where (surprise, surprise) another economic meltdown is occurring. The leaders point fingers and apply blame but there is nary a word about the philosophical foundation from which they stand. Oh sure, they call it “free market” and take the opportunity for poking holes in its supposed vices but we know better. There is nothing FREE (as in LIBERTY) about what’s going on. It does stir the hearts and minds of those who hold a light to this situation with integrity and fortitude and call it as they see it. All is not lost: for some, lessons will be learned. As for me, I’m doing my part to carry the flame of LIBERTY and spread the word so that darkness and ignorance does not prevail.
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