Thursday, September 9, 2010

"Those who do not remember the past are condemned to repeat it."

I was alive during the Great Depression and World War II and although quite young I accumulated life experiences. The majority of people today do not have such memories and experiences nor do they have the wisdom to learn from the past

The Great Depression was opposed by the Republicans using the same arguments then as now. Their arguments were proven wrong then as they still are.By 1938 the people began to believe the Republicans. But then came the war.

The problem is however, the Government spending necessary to pull the country from the abyss will not be forthcoming because there is not another World War II to spend it on. Men were drafted into the armed forces and the rest of the population were fully employed in factories. The Government produced unbelievable debt which fueled victory and twenty years of prosperity, growth and stability.

I do not suggest a massive war to solve this problem but instead embracing what has been demonstrated to be effective, that is, massive debt spent on specific targets followed by repayment when times improve. The alternative is to follow the Republicans as the Nation becomes second class with major poverty and instability.

"Those who do not remember the past are condemned to repeat it."George Santayana

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