History is repeating itself

Posted by George Leef at 08:05 AM

The Great Depression was as severe and long-lasting as it was because Hoover and even more FDR pursued anti-market, wealth-destroying policies. Obama is doing exactly the same thing.

Professor Walter Williams explains in this column.

One point I wish he had added was that each of our recessions and depressions was triggered by governmental manipulation of money and credit, going back to the machinations of the Bank of the United States, which was responsible for the Panic of 1819.

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