Saturday, February 16, 2013
More on the Krugman Lie that Hoover was a Laissez Faire President
According to findthedata.org, the federal budget in 1929 was $3,127,000,000. By 1932, that number had grown to $4,659,000,000, a 49% increase in just three years!!...What about revenues? According to this same web-site, federal tax revenues went in the exact opposite direction. They plummeted from $3,862,000,000 in 1929 to $1,924,000,000 in 1932 - this despite the fact that Hoover increased the top marginal rate by 152%!!! I think that we just have to face it here, people, Hoover was a Keynesian (yeah, I know, the General Theory" wasn't written until 1936 but Keynes was clealy working toward it prior to that) and Keynesianism doesn't work....As for Mr. Krugman, that dude really needs to open a history book...................................................................................P.S. And let's not forget, either, that Hoover also passed Smoot-Hawley, an act that, while it certainly didn't cause the Great Depression, probably added some fuel to the fire.
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12 comments:
To some, it appears that winning a Nobel Prize is an excuse to not bother with any sort of critical thinking any more. "Hey, I've got the prize. Time to just let the ol' gray matter coast from now on..."
[I go into Klueless Krugman mode]
I'm shocked at these facts! Shocked! Hoover sounds like a true Objectivist. A Rand follower, a true hater of government, whose policy consisted of nothing but taking from the working masses and giving it to the plutocrats!
[I shave off that awful werewolf beard and turn into a human again\
Question - have you ever seen him and Bernanke in the same room together?...I'm just saying.
Bernanke looks neat. The other guys treats grooming like he does economic history.
Also, about Smoot-Hawley... what a way to kick the economy down the stairs. Clobber family budgets by forcing them to buy overpriced goods, kick huge numbers of workers to the unemployment lines by closing export markets, and cause a bad chain reaction elsewhere.
And isn't that what people in the Great Depression really needed? Higher prices and fewer jobs? Some thought so then, and a few who stick go ideology instead of the cold hard facts of history do now.
Will, I think you need to flush again.
Will, this is the face of opposition to free trade. It is based in a racist bigotry against foreign people. demonizing them because they are capable of doing work at least as well as Americans (how dare they!), and it also shows contempt for the American worker. Tariffs, protectionism, and other draconian and unjustified methods to kill free and fair trade assume that American workers are so feeble and incompetent that they can't compete with workers from other countries.
It's a very destructive idea, having made the Depression worse. Thankfully, both the people and their leaders oppose it, it seems likely that trade will become more free rather than be subject to the whims of jingoistic megalomaniacs.
I am glad you understand this also.
Hey look,Lucy and Rickey's bastard son is back and still as idiotic as ever.
WD....here's a news flash,no one cares what you have to say and actually,no one likes you.
Even if you showed this data to a Krugman supporter, they would probably dismiss what you said as nonsense or try to find data that is skewed to fit their warped worldview. There's no point in trying to reason with them.
Like that blogger/professor says, Roberto, they entirely live in a wonderland.
You were totally right about him, Russ, and he is one of the main reason why I now fully support universal background checks.
Was beginning to smell like a Carnival cruise around here. Much better now. Thanks.
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