The Great Myth of the Great Depression

Franklin Delano Roosevelt. FDR. The man. The myth. The … worst president of the twentieth century. He has some competition for the title, but here are three reasons to nominate him as worst:

  1. FDR was responsible for the unconstitutional and unconscionable imprisonment of 120,000 people of Japanese ancestry (over 75k U.S. citizens) during WWII.
  2. FDR was sympathetic to communism, and coddled and propped up Joseph Stalin, the mass-murdering Soviet scum responsible for 10s of millions of deaths and untold suffering behind the iron curtain.
  3. FDR’s “leadership” during the Great Depression was directly responsible for deepening and dragging out the depression much longer than it would have lasted without his inept interventions.

Particularly persistent is the perception that FDR somehow saved America during the Great Depression. Nothing could be further from the truth.

Sadly, most Americans are ignorant of these three damning facts. Particularly persistent is the perception that FDR somehow saved America during the Great Depression. Nothing could be further from the truth. It is one of the great myths of the Great Depression, one which dedicated and courageous historians and scholars have been debunking for years.

Lawrence W. Reed, president of the Foundation for Economic Education, has written an excellent summarization of the history and related research, titled “Great Myths of the Great Depression“. I highly recommend that you read it, and pass it on to your friends and family. Here are some excerpts:

Old myths never die; they just keep showing up in economics and political science textbooks. With only an occasional exception, it is there you will find what may be the 20th century’s greatest myth: Capitalism and the free-market economy were responsible for the Great Depression, and only government intervention brought about America’s economic recovery….

The Great Depression was not the country’s first depression, though it proved to be the longest. Several others preceded it. A common thread woven through all of those earlier debacles was disastrous intervention by government, often in the form of political mismanagement of the money and credit supply. None of these depressions, however, lasted more than four years and most of them were over in two. The calamity that began in 1929 lasted at least three times longer than any of the country’s previous depressions because the government compounded its initial errors with a series of additional and harmful interventions….

If this crash had been like previous ones, the hard times would have ended in two or three years at the most, and likely sooner than that. But unprecedented political bungling instead prolonged the misery for over 10 years….

The Great Depression finally ended, but it should linger in our minds today as one of the most colossal and tragic failures of government and public policy in American history…. It was not the free market that produced 12 years of agony; rather, it was political bungling on a grand scale.

Here is a PDF of Lawrence W. Reed’s article:

Dear Fast Food Workers

Excerpted from an article by Matt Walsh, published April 15, 2015 on The Blaze

Dear fast food workers,

It’s come to my attention that many of you, supposedly in 230 cities across the country, are walking out of your jobs today and protesting for $15 an hour. You earnestly believe — indeed, you’ve been led to this conclusion by pandering politicians and liberal pundits who possess neither the slightest grasp of the basic rules of economics nor even the faintest hint of integrity — that your entry-level gig pushing buttons on a cash register at Taco Bell ought to earn you double the current federal minimum wage.

I’m aware, of course, that not all of you feel this way. Many of you might consider your position as Whopper Assembler to be rather a temporary situation, not a career path, and you plan on moving on and up not by holding a poster board with “Give me more money!” scrawled across it, but by working hard and being reliable. To be clear, I am not addressing the folks in this latter camp. They are doing what needs to be done, and I respect that.

Instead, I want to talk to those of you who actually consider yourselves entitled to close to a $29,000 a year full-time salary for doing a job that requires no skill, no expertise and no education; those who think a fry cook ought to earn an entry-level income similar to a dental assistant; those who insist the guy putting the lettuce on my Big Mac ought to make more than the emergency medical technician who saves lives for a living; those who believe you should automatically be able to “live comfortably,” as if “comfort” is a human right….

A Witness and a Warning

PictureAlger Hiss. Whittaker Chambers. No longer household names, but in the decade following the conclusion of the Second World War, there may not have been two Americans more famous — or infamous — than they were.

On January 21, 1950, Alger Hiss, a senior State Department official, was convicted by a jury of two counts of perjury. The culmination of hundreds of hours of testimony before Congressional committees and two courts of law, Hiss’s conviction was also a public exoneration of Whittaker Chambers, the man who had exposed Hiss as a Communist agent….

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There is no Legitimate Redistribution

This past Friday Catholic Pope Francis spoke to United Nations leaders in Rome, and urged “the legitimate redistribution of economic benefits by the state” [ref].

I know many Catholics that I highly respect, and in many ways the Catholic Church has stood up for Biblical Christian values that many other religions have discarded in the pursuit of worldliness.  But in this instance the Pope is dead wrong.

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Love, War and Wealth Redistribution

I was sitting on an airline flight the other day, looking at all the empty seats around me, and this wonderfully “progressive” idea radiantly dawned upon my consciousness.

Why waste empty airplane seats??? Give them away to the poor! And save the world! No more half empty fuselages fuming fossil fuels for a fraction of the freight!

After all, it isn’t fair that the poor cannot afford to fly, and it is a travesty that fat cat corporate kingpins can get away with wasting our precious natural resources, including our limited supply of airplane seats.

Right? I mean, Left? I mean, are you with me? You do want to be fair, don’t you?

As the old saying goes, all’s fair in love, war and wealth redistribution. Isn’t it?

I, Pencil

By Leonard E. Read, originally published in the December 1958 issue of The Freeman, this essay should be required study material for every freshman in high school.

 I am a lead pencil—the ordinary wooden pencil familiar to all boys and girls and adults who can read and write. Writing is both my vocation and my avocation; that’s all I do.

You may wonder why I should write a genealogy. Well, to begin with, my story is interesting. And, next, I am a mystery—more so than a tree or a sunset or even a flash of lightning. But, sadly, I am taken for granted by those who use me, as if I were a mere incident and without background. This supercilious attitude relegates me to the level of the commonplace. This is a species of the grievous error in which mankind cannot too long persist without peril. For, as a wise man observed, “We are perishing for want of wonder, not for want of wonders.”

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