Just as the situation in 1932 was created by the events of the 1920's, so is today's situation a result of the past.
I recognize that's a very inconvenient truth, particularly for the Righties, and that they have the luxury of an Obama victory prior to total collapse, something their historical predecessors lacked in 1932. So they'll attempt to blame him for not instantaneously fixing what it took decades for their free market heroes of the lootocracy to create...
The only people hoping for an Obama "failure" are those purposefully setting expectations a lot higher than they have any right to be, and attempting to judge future performance against those expectations.
In 1932, the one thing that was never really in question was the fiscal integrity of the govt, and that's not the situation today, at all, thanks in no small measure to the efforts of the Bush Admin and repubs in general. If that deteriorates further, any sort of recovery will be greatly hampered. If govt spending is cut drastically, as righties suggest, that'll reduce economic activity even further, kinda like digging a hole and pulling it down on top of yourself. The only real answer is to increase govt revenues, establish something resembling fiscal integrity, work from there.
We'll see if Dems can walk the delicate political line necessary to accomplish that, and if they can create some honest prosperity not based on deliberate deception and false asset valuation...
I recognize that's a very inconvenient truth, particularly for the Righties, and that they have the luxury of an Obama victory prior to total collapse, something their historical predecessors lacked in 1932. So they'll attempt to blame him for not instantaneously fixing what it took decades for their free market heroes of the lootocracy to create...
The only people hoping for an Obama "failure" are those purposefully setting expectations a lot higher than they have any right to be, and attempting to judge future performance against those expectations.
In 1932, the one thing that was never really in question was the fiscal integrity of the govt, and that's not the situation today, at all, thanks in no small measure to the efforts of the Bush Admin and repubs in general. If that deteriorates further, any sort of recovery will be greatly hampered. If govt spending is cut drastically, as righties suggest, that'll reduce economic activity even further, kinda like digging a hole and pulling it down on top of yourself. The only real answer is to increase govt revenues, establish something resembling fiscal integrity, work from there.
We'll see if Dems can walk the delicate political line necessary to accomplish that, and if they can create some honest prosperity not based on deliberate deception and false asset valuation...
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