Bill Maher Couldn't Keep Quiet About This Woke Issue Anymore
The Kennedy Family Is Pretty Damn Gross and Still Joe Biden Is Worse
We Were Warned
A Quick Bible Study Vol. 214: What the Bible Says About Passover and...
What Can Be Made Fun of and What Can't
Well Of Course They Hate America
Netflix Movie Boosts Program Helping Disabled Veterans
Biden Admin Faces Heat After Announcing Drastic Plan That Fuels Radical 'Climate Change'...
Democrats in This State Want to Become a ‘Sanctuary’ for Kids to Access...
'Repulsive:' MTG Goes Scorched Earth After Massive Ukraine Aid Package Approved
HHS, National Archives Hit With Lawsuit After Being Caught Deleting Emails of Former...
Democrats Wave Ukrainian Flags, Cheer 'Ukraine!' After House Passes $60 Billion Aid Packag...
House Passes Johnson's Foreign Aid Bills, Expected to Be Passed by Senate and...
Planned Parenthood Abortions Is One of the Top Leading Causes of Death in...
California Dems Weaken Bill to Make Buying Child Sex a Felony
OPINION

New Video Puncture Myths about Great Depression, Exposes Damaging Impact of Statist Policies by Hoover and FDR

The opinions expressed by columnists are their own and do not necessarily represent the views of Townhall.com.
Advertisement
Advertisement
Advertisement

I’ve commented many times about the misguided big-government policies of both Hoover and FDR, so I can say with considerable admiration that this new video from the Center for Freedom and Prosperity packs an amazing amount of solid info into about five minutes.

Advertisement

Perhaps the most surprising revelation in the video is that America suffered a harsh depression after World War I, with GDP falling by a staggering 24 percent.

But we don’t read much about that downturn in the history books, in large part because it ended so quickly.

The key question, though, is why did that depression end quickly while the Great Depression dragged on for a decade?

One big reason for the different results is that markets were largely left unmolested in the 1920s. This meant resources could be quickly redeployed, minimizing the downturn.

But this doesn’t mean the crowd in Washington was completely passive. They did do something to help the economy recover. As Ms. Fields explains in the video, President Harding, unlike Presidents Hoover and Roosevelt, slashed government spending.

Join the conversation as a VIP Member

Recommended

Trending on Townhall Videos