The Coming Depression

Instead of calling it The Great Depression which was jointly widened, deepened and lengthened by Presidents Hoover and Roosevelt, we can call this one BOB's Depression, Bush-Obama-Bernancke Depression. Apparently, Bernecke if not a fan of FDR seems to be an apologist.

"It's clear to me that Ben Bernanke wants to go down as the Franklin Roosevelt of this episode, not the Herbert Hoover," said Laurence Ball, an economics professor at Johns Hopkins University. . .

"The financial system now is collapsing as quickly and as completely as it did during the Great Depression, but right now the monetary authorities are doing everything right," said Gary Richardson, associate professor of economics at UC Irvine and a research fellow at the National Bureau of Economic Research. "In the Great Depression, they did lots of stuff wrong; the problem got worse because they exacerbated it." LA Times, Oct. 11, 2008

Can the man not count the number of years after FDR took office where he ran the economy into the ground? He seems to be a believer in more is better (interference). It would make no difference what Bush does now--he's been totally marginalized by his own party, Hank and Ben, and the "office of the President-elect," and Obama will certainly wait until after January 20, to suggest anything, if he and his Clintonistas have a plan, so he can get the credit.

March 2, 2004 Speech
June 15, 2007 Speech