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Politics : Formerly About Advanced Micro Devices
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To: combjelly who wrote (700918)2/25/2013 1:59:14 PM
From: i-node2 Recommendations  Read Replies (3) of 1574482
 
>> It was at Morgenthau's insistence that FDR cut spending and raised taxes that triggered the Depression within the Depression, thus demonstrating that Keynes had it right and the classical economists had it wrong. The extra spending due to the build up to WWII and the extra recruiting was enough to pull us out of the Depression right as we entered the war.

I'm not sure I've ever read so many incorrect statements in a single paragraph.

The Roosevelt Recession is proof that Keynes doesn't work. As soon as the spending stops, the jobs stop. As I've pointed out before, government cannot create jobs; it can only transfer jobs from the private sector. When the money stops flowing you're right back where you started. Who could have seen that coming?

The Depression should never have lasted until the war began in the first place. It was FDR domestic policy that dragged it out for a decade to begin with.

The war effort did put people to work but that's not what ended the Depression. We know, with plain certainty, that government cannot create jobs, it can only hire people. The war acted as a jobs program.

The depression ended and the US became an economic power, not by virtue of the war effort, but by the destruction of substantial economies around the world. Which meant when it was over there was no competition -- everyone looked to the US as their supplier.

This is pretty much self-evident. I'm not quite sure why you're so blind to it. But clearly, you're stuck in that liberal dogma so no matter how evident something is, you're not going to see it.
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