"Study history, study history. In history lies all the secrets of statecraft." ~ Winston Churchill

Lessons from The Great Depression

Took the weekend to research The Great Depression to see whether there were any parallels to our current economic mess. Below are a few, but it's best to read this page.

• Saving financial institutions from defaulting was critical. Still is.
• Unemployment is the always the last to recover.
• We were coming out of the depression in early 1937 when the Republicans insisted on the budget being balanced resulting in a recession inside of the depression. Roosevelt caved, and unemployment rose, and production fell.
• The vast majority of economists believe that the New Deal policies "either caused or accelerated the recovery, although his policies were never aggressive enough to bring the economy completely out of recession."

Not aggressive enough! It seems the current collection of Republicans/Tea Partiers "don't know history are destined to repeat it."