Spot on.

Via Professor Bainbridge, an extremely relevant political cartoon from 1934:

Sound familiar?

How long until we can say this isn’t working?

NEW YORK (Reuters) – Job losses in the U.S. private sector accelerated in March, more than economists’ expectations, according to a report by ADP Employer Services on Wednesday.
Private employers cut jobs by a record 742,000 in March versus a 706,000 revised cut in February that was originally reported at 697,000 jobs, said ADP, which has [...]

And we wonder why the Depression lasted so long?

FDR had the following to say in 1935 on the occasion of his acceptance speech for the Renomination for the Presidency. He’d just served his first term (without fixing the economy) and was preparing to run to victory in his second. See if anything here looks familiar as we are about to embark in 2009 [...]

Bad deal.

The worst mistake of the New Deal was keeping wages and prices artificially high, thus suppressing employment and consumer demand. UCLA economists Harold L. Cole and Lee E. Ohanian calculate that FDR’s pro-labor policies kept both wages and unemployment 25 percent above what they would have been otherwise. (The old saw was that the Depression [...]

Daniel Gross of Newsweek: Pwned

This is actually kinda funny. It’s a response by a “serious  professional historian” to a hack journalist who claimed in Newsweek that NO serious professional historians believed that FDR prolonged the Great Depression with his New Deal policies.
Off the top of my head, I can name “several serious professional historians” who would probably argue (and [...]

Are you smarter than a 5th grader?

Tax 1,000 people less, and those 1,000 will take home more money. They’ll spend that money. Save that money. Invest that money.
Tax 25,000,000 people less and…well…you get the picture.
Tax those same people MORE, and there will be LESS money to be spent…saved…invested…so naturally, less money will actually be spent, saved and invested.
In an optimum economy, [...]