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- choose projects that "can be made to mature quickly on a large scale, as for example the rehabilitation of the physical condition of the railroads."
Roosevelt, in part, followed Keynes' advice. More was needed. Depression continued. End of decade war spending ended it.
Obamanomics is polar opposite FDR's. Cut, cut, cut, replaced spend, spend, spend. People needs get short shrift. Imperial priorities matter more. Do do corporate ones and benefits afforded America's rich.
Conventional wisdom is wrong. Economic policy is wrongheaded. Conditions are dire. Main Street's in protracted Depression. Austerity deepens hard times. Sequester piles on more.
Paul Craig Roberts calls America's economy "dead." Recovery is illusory. There is none. The worst is yet to come. More on that below.
"The consequences of a dead economy when the government is wasting trillions of dollars in wars of naked aggression and in bailouts of fraudulent financial institutions is a government budget that can only be financed by printing money," says Roberts."The consequence of (doing so) when jobs have been moved offshore is an inflationary depression." It can arrive when least expected. Forewarned is forearmed.
Roosevelt vowed to revive economic growth. Obamanomics prevents it. Don't expect media scoundrels to explain.
March 1 triggered $85 billion in sequestered cuts. They're automatic. Obama ordered them. He blamed Republicans. He lied. Throughout his tenure, he demanded them.
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