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Revisionist History and the Great Depression

- Andy Sutton -

We had two leaders and complicit Congresses in the 1930s that acted like proverbial bulls in the china shop. We had a central bank that was managing things for the benefit of those who own it, and what was even worse – we had a country that was very literally demanding all of the above. And I will say it one more time for posterity – does any of this sound familiar?
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Nice article. One thing seems most fearful. Either 2008 was akin to 1929 or 2008 is akin to some kind of lead up to some worse than 2008 calamity. In other words, all Bernanke argues for is staving off the Depression - so pre 1929. Yet, the paragraph I've borrowed (listed above) points to Depression policy via 'walks like a duck' as having already arrived - so post 1929 and into the 1930's. Yet if akin to pre 1929, then why does economy feel and read like a run up to a Depression that then needs to be staved off? But if akin to into the 1930's, then what Depression did Benanke stave off that isn't the one that is already here? Restated, what success can be pointed to by FED policies? Fabulous and systemic no doubt. Nonetheless, the leadup to this question is not sophistical. FED chairman is afterall a historian. Inherent incoherence apparently finds US fiscal policy under current management. Now incoherence is a dirty word in this context, all agree. But can its referral be a surprise? Filth cavalier incompetent extraordinaire raps round the current president like his skin. It's not all his own. But he wallows in it. Sucks on it like some black teat craved for but missing from his infancy. And he serves it utterly and it alone for only in that way can he posit his political continance - fetid miracle conniver. Possessing patently neither care nor owned consequence, Obama is dung.

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Beginning of the headline : Over the past several years, the term ‘Great Depression’ has made a grand re-entry into the American mainstream and has as a consequence become perhaps one of the most misunderstood terms.We are told it was everything that it wasn’t and that it wasn’t everything that it was.Like many important historical events, there is a good bit of revisionist history at work with regards to those dark 12 years in American history when it seemed as though there was nothing but despair and governments tripping over themselves to fix something they didn’t have the tools or the business monkeying with in the first place... Read More

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