Wrong twit.....FDR lenghtened and deepened the GReat Depression......and LBJ was living off the Tax revenue Kennedy created with his tax cuts.....
And the biggest thing........World War 2 destroyed the industrial capacity and the economies of all of Europe.......no one could compete with us after the war....a war created by socialists...
FDR lengthened the Great Depression?
That's hilarious because he achieved faster economic growth than other U.S presidents of the 20th century.
Germans caused lots of damage in WW1 too.... In fact more White Christians were killed in WW1, than in WW2... A fact which is generally neglected.
So, is it a product of Fascism, or a product of being German to cause mega wars?
Because Germany in WW1 wasn't Fascist..... In fact it was a Capitalist Monarchy, no?
Capitalist or monarchy, which was it? You can't have both. I don't know if they were fascist or not, that predates the term. They wanted to take over much of Europe and Russia though.
FDR Was a Great Leader, But His Economic Plan Isn't One to Follow
But Roosevelt the economist is unworthy of emulation. His first goal was to reduce unemployment. Of his own great stimulus package, the National Industrial Recovery Act, he said: "The law I have just signed was passed to put people back to work." Here, FDR failed abysmally. In the 1920s, unemployment had averaged below 5 percent. Blundering when they knew better, Herbert Hoover, his Treasury, the Federal Reserve and Congress drove that rate up to 25 percent. Roosevelt pulled unemployment down, but nowhere near enough to claim sustained recovery. From 1933 to 1940, FDR's first two terms, it averaged in the high teens. Even if you add in all the work relief jobs, as some economists do, Roosevelt-era unemployment averages well above 10 percent. That's a level Obama has referred to once or twice -- as a nightmare.
The second goal of the New Deal was to stimulate the private sector. Instead, it supplanted it. To justify their own work, New Dealers attacked not merely those guilty of white-collar crimes but the entire business community -- the "princes of property," FDR called them. Washington's policy evolved into a lethal combo of spending and retribution. Never did either U.S. investors or foreigners get a sense that the United States was now open for business. As a result, the Depression lasted half a decade longer than it had to, from 1929 to 1940 rather than, say, 1929 to 1936. The Dow Jones industrial average didn't return to its summer 1929 high until 1954. The monetary shock of the first years of the Depression was immense, but it was this duration that made the Depression Great.
Capitalism doesn't have to include a good Democracy, Pinochet for example can be seen as a Totalitarian Capitalist dictator.
FDR achieved the best economic growth in 20th century America, but somehow worsened the Great Depression? really?
Look at the Unemployment stats, FDR lengthen the depression.
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The bottom graph admits the top 2 Presidential term job creation rates were from FDR.
Jobs created during U.S. presidential terms - Wikipedia
1. In 1931, in some of the darkest days of the Great Depression and the middle of the Hoover administration, unemployment rate stood at 17.4 %. Seven years later, after five years of FDR, and literally hundreds of wildly ambitious new government programs, more than doubling of federal spending, the national unemployment rate stood at – 17.4 %. At no point during the 1930’s did unemployment go below 14 %. Even in 1941, in the midst of the military buildup, 9.9 % of American workers were unemployed.
2. March 4, 1933, in his first Inaugural Address, FDR said “Our greatest primary task is to put people to work.” This meant that the New Deal was a wretched, ill-conceived failure.
3. After the stock market crash,, the Dow hit 250 in 1930 under Hoover (it had been 343 before the crash). January 1940, after seven years of the New Deal, the market had collapsed to 151, and remained in the low 100’s through most of FDR’s terms.
4. Federal spending went from 2.5 % in 1929 to 9 % in 1936: Washington’s portion of the economy increased by 360 % in just seven years- with no benefit to the economy.
5. Arthur Schlesinger, Jr., liberal New Deal historian wrote in
The National Experience, in 1963, “Though the policies of the Hundred Days had ended despair, they had not produce recovery…” He also wrote honestly about the devastating crash of 1937- in the midst of the “second New Deal” and Roosevelt’s second term. “The collapse in the months after September 1937 was actually more severe than it had been in the first nine months of the depression: national income fell 13 %, payrolls 35 %, durable goods production 50 %, profits 78% .
6. In 1935, the Brookings Institution (left-leaning) delivered a 900-page report on the New Deal and the National Recovery Administration, concluding that “ on the whole it retarded recovery.”
article • AEI
7. Economist Jim Powell, in “FDR’s Folly,” notes that a disproportionate amount of FDR’s relief and public works spending “went not to the poorest states such as the South, but to western states were people were better off , apparently because there were ‘swing’ states which could yield FDR more votes in the next election.”
8. John Maynard Keynes, in a letter published in the NYTimes, December 31, 1933, warned “ even wise and necessary Reform may, in some respects, impede and complicate Recovery. For it will upset the confidence of the business world and weaken their existing motives to action.” Even Keynes saw the danger in treating the nation’s capitalists as an enemy, as “the unscrupulous money changers,” as FDR called them in his first Inaugural.
9. Warren Harding inherited one of the sharpest recessions in American history in 1921. By July it was over. Harding and Treasury Sec’y Mellon cut government expenditures by 40 %, allowing wages to fall, in a natural recovery to full employment. The cuts, and even sharper tax cuts under Coolidge, produced the long period of growth and rising living standards associated with the Roaring Twenties.
10. Roosevelt made sure that the recession became a depression and lasted five times longer than it should have.
Ask yourself why.
