[indio]

Originally posted on 07/24/2012:

Yeah great example. any economist worth a piss knows u have to spend your way out of this. spend the right way. Hoover tried the not spend shit way and everything got worse. History is not really a big deal with the republican party.

Your ignorance in history is really showing. Hoover was a progressive that spent a lot and created a lot of government programs. So much so that in a weird twist of irony, Roosevelt condemned his spending and called him a socialist during the '32 election (election rhetoric was garbage back then too).

Hoover was a big believer in big government. He was appointed by Wilson to a government post in 1917, and was considered by Democrats as a potential candidate for 1920. When the market crashed in his first year in office, Hoover spent on many public works projects, most famous being the Hoover Dam. Hoover raised the top tax bracket from 25% to 63%, and raised tariff rates. He felt raising tariffs on imports would cause imports to go up and more Americans would buy American, but all it did was force other countries to stop importing American goods and prices went up everywhere and it was a failure. Hoover famously denounced laissez-faire thinking. He believed in private-public partnerships rather than complete government control, and did not believe in free markets. Rexford Tugwell, the architect behind FDR's New Deal programs, said in an interview later in his life that what they did was continue Hoovers programs, they just couldn't admit that at the time of course.

Hoover enacted the Emergency Relief and Construction Act which federally funded public works. Roosevelt continued these programs and called it his New Deal baloney.

Keynesian economics is a farce, and has never worked. The recession of 1920 was met with no government intervention and it ended in a year. Only when big banker friendly progressives like Teddy Roosevelt, Wilson, Hoover, and FDR get government involved in economics do the people get screwed. Now, we have a progressive like Bush, followed by a progressive like Obama, which is an absolute disaster for the people. All spending does is increase debt, destroy the dollars value, and put money into the hands of the thieves who receive it. It does absolutely NOTHING to help a citizen.

Any real economist knows only a true-free market with sound money will peoples net worth be safe from the jackals who hijacked our money with the treasonous Federal Reserve Act of 1913. When we get the courage to restore our constitution and return to sound money and free markets, and abolish the income tax, we will be free and prosper again. And all those who looked to manipulate the economy with stimulus' and war profiteering to benefit the modern day Baruchs and Schiffs, Houses and Warburgs, and Rothschilds will be charged with treason and hanged.