Added: Dec 12, 2011

From: CFPEcon101

Duration: 6:3

This mini-documentary from the Center for Freedom and Prosperity Foundation explains how the statist policies of Presidents Hoover and Roosevelt lengthened and deepened the Great Depression. The video also briefly explains how reductions in the burden of government spending helped the economy recover from a deep recession after World War I and to grow after World War II.

Channel: Nonprofit

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Rating: 4.227468' max='5' min='1' numRaters='466' rel='http://schemas.google.com/g/2005#overall ( ratings)    Views: 40678    Comments: 490

captainjack77 Says:

Feb 10, 2013 - Good on him for finding a way to get rich, but do you really believe this is sound monetary policy? I think I understand you a little better, now. You don't care about the collective economy, you just see a way to make money off of crippling monetary policy, and want to keep that gravy train flowing. The dollar has had a slight reprieve, due to Europe, and Japan faltering. I can't wait to hear what you think when the dollar finally does collapse.

Evan Mahon Says:

Feb 27, 2013 - For almost 2 years after the onset of the Great Depression, we had limited government intervention, a top income tax rate of merely 25%, and a very low corporate tax rate (it was something like 10%). This doesn't look like the work of a "dogmatic interventionist" to me. Now, there's no question Hoover tried to act in the final year of his term, but for your own convenience, you are ignoring his policies from 1929 to mid-1931! You're being disingenuous if not dishonest.

Evan Mahon Says:

May 26, 2013 - Well, at the time, international trade was only a very small part of the U.S. economy relative to what it is today. It was something like 4% of GDP. Tariffs on imported goods were increased several times throughout the 20s and the economy continued to thrive. However, my point wasn't necessarily about the economy; I'm not an economist. My point was we shouldn't take this video seriously because Michelle fields is not a credible economic historian.

captainjack77 Says:

Feb 15, 2013 - Only government can expand the money supply sufficiently to generate chronic price inflation. The Great Inflation was caused by the greatest domestic policy blunders since WW-II. In fact, the oil shocks could not have occurred in the absence of the previous decade of monetary inflation that was undermining the purchasing power of the dollar. With monetary inflation being determinedly employed to keep real interest rates near or below zero, oil in the ground was worth more than oil produced.

captainjack77 Says:

Feb 10, 2013 - So the $1.7 billion trilateral trades, were from the dot.com bubble? You're an idiot! The figures are from import/export trade - not from internet stock speculation! You keep proving how brain-dead you really are! In the first decade of NAFTA, U.S. manufacturing output soared, U.S. employment grew, and U.S. manufacturing wages increased dramatically. Income gains and tax cuts from NAFTA were worth up to $930 each year for the average US household of four.

captainjack77 Says:

Feb 10, 2013 - Also, if, since 2008, the deficit has risen as it has, and dollars have been printed as they have, why is there no recovery? Why has the mass borrowing not led to increased prosperity? Why is it, that now, the theories of Keynes are failing, miserably? You do realize that inflation hurts the poor more than anybody else, right?

brabus8317 Says:

Jun 10, 2013 - This is absolute complete garbage!.

brabus8317 Says:

Jun 10, 2013 - This woman is a caveman.

RE Hamrick Says:

Jul 26, 2013 - Not really. The military gave people jobs, forced the gov to spend (but not too much), etc. Also, the natural cycle of the economy (Prosperity, rescession, depression, recovery) means that the US had to recover at some point. So no, massive spending does not affect your rescession, but the war put people to work. Also, the economy was going to recover at some point

captainjack77 Says:

Feb 28, 2013 - And you're trying to correlate a free market to the great depression, which is to grossly misread history. I may have suggested it before, but I encourage you to read America's Great Depression, by Murray Rothbard - even if you disagree with the notion that government intervention was the cause of the Great Depression, I think it would be worth while to read an alternate view to what has been force fed to you all your life, by supporters of big government.

ymkamara420 Says:

Feb 10, 2013 - "A common argument in support of infinite borrowing - but it's false. Debt has to be repaid! " What is U.S debt dominated in? dollars. What can the U.S create dollars? So it no problem Inflation? we printed over a trillion dollars over the Q.E's where is this hyperinflation?

Omar Suleman Says:

Jun 9, 2013 - damn

MYacono Says:

Apr 2, 2014 - The Center for Freedom and prosperity is funded by the Koch Brothers. This is a piece of propaganda Goebbels would be proud of. . Hoover did nothing thinking it wasn't the govts job. and was content to let people suffer just like the Koch brothers, believing in the "invisible hand" Adam smith wrote of. Keynesian economics was true by stimulating the economy FDR was able to bring about the recovery. IN 1937 when he tried to reduce programs, we suffered a mini-recession. Of course the Koch brothers are against FDR. He have labor rights, collective bargaining, glass-steagal act, created the SEC all to keep creeps like the Kochs and Sheldon Adelman from buying and subverting out democracy .

never mind Says:

Nov 20, 2013 - 77 Obama supporters disliked this video!

LegendsXXX2 Says:

Feb 26, 2014 - Its funny that this video was paid for by a GOP Super PAC that only works in the interest of the 1%. Its also funny that I'm studying this in college currently & the Depression was caused by no regulation in the stock market which lead to the crash of 1929. Of course, to spread misinformation & Nazi like propaganda the GOP has to resort to using a bimbo who probably never even graduated high school, they are just trying to distract you all.

Johnny Wayne Says:

Aug 12, 2014 - Bullshit with big tits. As an MBA with an actual education in this matter......I call Bullshit with big tits.

apope06 Says:

Jan 24, 2014 - The reason why you never hear about the depression of 1920 is because it never was a depression. It was a recession and can not even be compared to the crash of 1929. 1920 was a mild market correction from a wartime economy to a peace time economy. Also, Hoover was not a Keynesian and he proposed "voluntarism" as a way of dealing with poverty and suffering and not government intervention. He was a traditional conservative in that he believed in balancing the budget to fix the economy. He was not a Keynesian and did not believe the govt. had a role in creating jobs in the economy. Increases in taxes are not necessarily Keynesian because even Keynes favored govt. spending via tax cuts to create demand. In the end, GDP growth under FDR was twice what it is now (but when he tried to cut spending & balance the budget in 1937 it created a recession)..but most importantly, his policies created the fundamentals for long term prosperous growth via labor rights, minimum wage increases, and social security. If it wasn't for the New Deal.. growth would not have lasted for 30 years...

Matthew Graham Says:

Jul 26, 2014 - Makes sense, I don't know how anyone could think that Hoover & Roosevelt's policies worked. On the side note, she is a beautiful woman. 

Alejandro Flores Says:

Sep 19, 2014 - What she forgot to mention was that in 1929 the M2 money supply fell by 1/3 and subsequently 1/3 of the banks failed. All government had to do was print more money and not strict business! 

Matthew S Says:

Oct 13, 2014 - What got America out of recession was bombing to dust most of its industrial competition during WW2

dumdebadaba Says:

Aug 4, 2014 - So if the politicians are so useless and their administration only deepens problems, why not remove them and install a single dictator? The administration will consist only of his family, and even if it steals, it's just one family?! Thus presidents won't worry for re-election and won't mess with the economy?!

pillsbury1thegamer Says:

Jul 2, 2014 - Really no comments about her?... Fine I will I'd like to put my Hoover in her!

jbond5150 Says:

Sep 9, 2014 - Man this is so fundamentally flawed its laughable. Your argument is that government spending during economic busts only worsens an economic crises, but then give no explanation as to what pulled the US out of the depression: massive government spending during wwii! The new deal didnt fail, though it did fall short because it just wasnt enough government spending. No conservative can ever seem to acknowledge that wwii and the massive spending behind it left the great depression to history. 

Robert Slack Says:

May 16, 2014 - Wow, almost every sentence in this is pure, unadulterated bullshit! Congratulations! That's quite a feat.

NewWorldAhead Says:

Oct 23, 2014 - This bitch is a teabagger who is lying to increase the wealth of the rich and decrease the income of the working class.