Obama would have been nailed to a cross...

[bamacre]

... if this had been his plan to fix the economy...

Eight years ago, in times of peace, the Democratic Party made it an issue, and when clothed with power that party came near to its accomplishment by destroying the people's capacity to buy. But that was a cure worse than the ailment. It is easy to understand the real causes, after which the patient must help to effect his own cure.

Gross expansion of currency and credit have depreciated the dollar just as expansion and inflation have discredited the coins of the world. We inflated in haste, we must deflate in deliberation. We debased the dollar in reckless finance, we must restore in honesty. Deflation on the one hand and restoration of the 100-cent dollar on the other ought to have begun on the day after the armistice, but plans were lacking or courage failed. The unpreparedness for peace was little less costly than unpreparedness for war.

We can promise no one remedy which will cure an ill of such wide proportions, but we do pledge that earnest and consistent attack which the party platform covenants. We will attempt intelligent and courageous deflation, and strike at government borrowing which enlarges the evil, and we will attack high cost of government with every energy and facility which attend Republican capacity. We promise that relief which will attend the halting of waste and extravagance, and the renewal of the practice of public economy, not alone because it will relieve tax burdens, but because it will be an example to stimulate thrift and economy in private life.

I have already alluded to the necessity for the fullness of production, and we need the fullness of service which attends the exchange of products. Let us speak the irrefutable truth?high wages and reduced cost of living are in utter contradiction unless we have the height of efficiency for wages received.

In all sincerity we promise the prevention of unreasonable profits, we challenge profiteering with all the moral force and the legal powers of government and people, but it is fair, aye, it is timely, to give reminder that law is not the sole corrective of our economic ills.

Let us call to all the people for thrift and economy, for denial and sacrifice, if need be, for a nation-wide drive against extravagance and luxury, to a recommittal to simplicity of living, to that prudent and normal plan of life which is the health of the Republic. There hasn't been a recovery from the waste and abnormalities of war since the story of mankind was first written, except through work and saving, through industry and denial, while needless spending and heedless extravagance have marked every decay in the history of nations. Give the assurance of that rugged simplicity of American life which marked the first century of amazing development, and this generation may underwrite a second century of surpassing accomplishment.

I mean, could you imagine Obama admitting that our economic problems were actually due to government actions? Telling people that the way to fix the economy was to cut government spending? Allow deflation? That people would need to be more frugal with their money? Accept lower wages?

Not very likely. :laugh:

These words of course are not Obama's, they are from Warren Harding, addressing the economic problems he faced while coming into office. Taxes were lowered. Government spending was cut, drastically. The Fed stayed out of the way, and the economy rebounded. In only one year.

http://www.lewrockwell.com/blo...w/archives/026269.html

 

[JEDIYoda]

I don`t get it...whats your point?
Oh..now I get it...you like to say Obama`s name!!

 

[whylaff]

Does Obama get his own Teapot Dome scandal?

 

[microbial]

I thought this was an Easter theme posting...Oh, well...

 

[heyheybooboo]

And the Roaring 20's led to the Great ____________ ? (fill in the blank)

Voodoo Economics has a consistent track record.

Warren Harding, Herbert Hoover and George Bush. The Hat Trick of Worst Presidents Evah.

 

[JSFLY]

Originally posted by: heyheybooboo
And the Roaring 20's led to the Great ____________ ? (fill in the blank)

Voodoo Economics has a consistent track record.

Warren Harding, Herbert Hoover and George Bush. The Hat Trick of Worst Presidents Evah.

Depression!!!!

I win

Do I get a cookie?

 

[bamacre]

Originally posted by: JEDIYoda
I don`t get it...whats your point?
Oh..now I get it...you like to say Obama`s name!!

Originally posted by: whylaff
Does Obama get his own Teapot Dome scandal?

Originally posted by: heyheybooboo
And the Roaring 20's led to the Great ____________ ? (fill in the blank)

Voodoo Economics has a consistent track record.

Warren Harding, Herbert Hoover and George Bush. The Hat Trick of Worst Presidents Evah.

Yeah, right because Hoover and Bush decreased the size of government, they didn't have government policies to fight deflation. Oh wait, they did, they both did, they both did both. Greenspan had the printing machines running 24/7, and Hoover, well Hoover was paying farmers to burn crops and slaughter excess farm animals to keep prices high.

As for the Great Depression, I don't see how his actions described in the OP are relevant at all. The causes for the Great Depression, no matter what one believes them to be, occurred later.

 

[tfcmasta97]

bamacre: whether you want short sighted input by a dumbass that runs from reality and facts, or a speedy and thorough retardification, he's who your fool!