Investor's Business Daily "But while everyone was picking apart these and other flaws in Obama's speech, they overlooked the most frightening line of all. That was when Obama promised that he'd pursue "the kind of bold, persistent experimentation that Franklin Roosevelt pursued during the only crisis worse than this one."
"That promise might have made liberal hearts swoon. But as Amity Shlaes explained in her outstanding history of the era —"The Forgotten Man"
— it was precisely FDR's "bold, persistent experimentation" that was largely to blame for the length, depth and severity of the Great Depression."
(Emphasis added)
Related article by Schlaes: Obama Is a Loser Who Wins, Like FDR in 1936
"That promise might have made liberal hearts swoon. But as Amity Shlaes explained in her outstanding history of the era —"The Forgotten Man"
— it was precisely FDR's "bold, persistent experimentation" that was largely to blame for the length, depth and severity of the Great Depression."
(Emphasis added)
Amity Schlaes |
Related article by Schlaes: Obama Is a Loser Who Wins, Like FDR in 1936
The result is our “count me out” problem; businesses that could hire are not doing so; companies that invest would invest more if the market were predictable. A similar “count me out” culture prevailed in the late 1930s. A “capital strike” was what Roosevelt crossly labeled it. The third similarity is that both candidates are especially ready to assign blame somewhere else.