28 October 2010

A Discussion:

"I think still think... the fundamentals of our economy are strong."

-Senator John McCain, mid-September 2008.



"The fundamental business of the country, that is the production and distribution of commodities, is on a sound and prosperous basis."

-President Herbert Hoover, late October 1929.











"The present administration has either forgotten or it does not want to remember the infantry of our economic army. These unhappy times call for ... plans ... that build from the bottom up and not from the top down, that put their faith once more in the forgotten man at the bottom of the pyramid."

-President Franklin D. Roosevelt, early April 1932









This is why my grandfather, who fought in WWII and earned a Silver Star, firmly believes that FDR is the greatest President. Simply, he believes he laid the groundwork that got us out of the Depression.


Discuss.

4 comments:

  1. This comment has been removed by the author.

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  2. FDR's policies were largely counterproductive and extended what could have merely been a simple recession. If you want to see smart fiscal and monetary policy I'd take a look at Singapore:

    http://www.youtube.com/watch?v=xRvbrzIyV9E
    http://en.wikipedia.org/wiki/Economy_of_Singapore
    http://online.wsj.com/article/SB10001424052748703673604575550943249560602.html

    (I can't post hyperlinks but one can still copy-and-paste the URLS)

    One thing we did do right, however, is once again legalize the growing of industrial hemp which has four times the profit margins of cotton and is far more durable.

    It seems we are slowly entering the Second Great Depression at the moment so I'd say this is highly-relevant and certainly worth discussing.

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  3. "The economy of Singapore is a developed country and highly developed state capitalist market economy. The state controls and owns firms that comprise at least 60% of the GDP through government entities such as the sovereign wealth fund Temasek. It has an open business environment, relatively corruption-free and transparent, stable prices, and one of the highest per capita gross domestic products (GDP) in the world. Its innovative yet steadfast form of economics that combines economic planning with free-market has given it the nickname the Singapore Model."

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