I have written on my blog before how I honestly and truly believe that the great depression was made longer by government intervention. I debated this even with my very own brother -- and he called me an idiot.
Okay, so he is more civil than most liberals, and did not call me an idiot. In better terms, we joked it off and changed the subject faster than a mouse can run when you spot it.
But during the 1800s there were several depressions, and the President was encouraged to intervene all of those times. Grover Clevelant was President one of those times, and he said it is not the role of government to intervene, that economies go up and down NATURALLY.
Hence, with government intervention, we are playing with fire -- making a problem worse. When you make a problem worse it takes twice as long to put it out. And that is exactly what happened during the great depression.
Herbert Hoover raised taxes on the rich and used every government means to force businesses to this or that, and the end result was that those businesses were forced to go out of business. He turned a recession into a depression because he thought he HAD to do something.
And that's exactly what we don't want during a recession. Obama seems to not have heeded a lesson from history and is doomed to repeat the failures of the past. Obama might be HOOVER all over again.
Yes, it is true, FDR made what Hoover did even worse. Well, I'm not going to go over this proven again and again theme that government cannot solve problems and usually make them worse again on this blog -- been there and done that.
However, I would like to link you to an excellent blog post today that does just that. Here, click here and I'll morph you over to Z's blog.