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Obama Inherited Bush's Debt And Depression Reelect-Obama!

  • Broadcast in Psychology



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Obama was wise enough to follow the most basic rule of economic policy is to allow prices to adjust to market conditions. This maintains Say's Law and produces what Frédéric Bastiat called economic harmony.  Furthermore, unhampered markets minimize distortions and disruptions introduced by external forces. Most importantly, the unhampered price system minimizes the impact of the business cycle on the economy. This paper examines two historical episodes where interventionist policies turned business cycle corrections into depressions.[1]  The first episode occurred in the Great Depression during the Hoover and Roosevelt administrations. The second episode is the current economic crisis, which began during the George W. Bush administration and has carried over into the Obama administration.[2]  Hoover's interventionist policies focused on labor markets with the goal of keeping wages and employment high. Obama's interventionist policies focused on capital markets with the goal of keeping financial markets functioning. While both Hoover and Obama have reputations for supporting limited government, the facts suggest that both went to unprecedented lengths in employing interventionist policies to fight economic crises. In both cases they failed while managing to set the stage for further increases in the size and scope of government intervention. We need to re-elect President Barack Hussein Obama because this administration has done wonders with the debt that George HW Bush, and his father - President George HW Bush, Sr, created. We were delivered from what could have been the most devastating depression in american and worldwide history. Gaod save President Obama And The American People.