Understanding Government

We’re following the same strategies that we followed the last time we were in this economic situation (that would be 1929 by the way). Mises.org hits on the head here:

They have looked at the history of the New Deal and completely misunderstood it, believing the civics-book claptrap about how FDR saved us from the Depression, whereas the fact is that FDR’s theories and policies lengthened and deepened it to the point that the only way out that the Roosevelt administration saw was war.

I found the term from a series of videos at Vimeo (via Coudal), but it seems to fit. In any case, welcome to The New Depression. I have to imagine that this is about what things looked like in 1929.