Did FDR help end the Great Depression? Did his New Deal improve an otherwise hopeless economy? Lee Ohanian, Professor of Economics at UCLA and consultant to the Federal Reserve Bank of Minneapolis, explains.
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Thursday, February 9, 2023
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No, FDR didn’t end the Depression. In 1940, the unemployment rate was 14%. World War II ended the Depression.
Roosevelt: A rich scion of a wealth family, so incompetent with money his own mother wouldn’t let him touch his trust fund.
Roosevelt: Who once stated “Some of my best friends are Communists.”
Roosevelt: who surrounded himself with “New Dealers” who were socialists…or WORSE (his own wife was one.)
Roosevelt: who labeled Charles Lindberg a “Fascist” and an alarmist when Lindberg attempted to alert the USA of Hitler’s growing might and possible oncoming of war.
Roosevelt: for whom only TWO terms were not enough to satisfy his enormous ego, he had to have FOUR.
YEAH, wasn’t FDR a real “hero?”
FDR and the FED prolonged the Great Depression with uncertainty and bad policy.
His wife opposed JFK’s candidacy. Lol. A lot of people don’t know that. Says a lot.