Obama is making the same mistakes made in the 1930s, which prolonged the Depression world-wide, according to Nobel Laureate James Buchanan. A study he endorses finds:
There are “troubling similarities” between the US President’s actions since taking office and those which in the 1930s sent the US and much of the world spiralling into the worst economic collapse in recorded history, says the new pamphlet, published by the Institute of Economic Affairs.
In particular, the authors, economists Charles Rowley of George Mason University and Nathanael Smith of the Locke Institute, claim that the White House’s plans to pour hundreds of billions of dollars of cash into the economy will undermine it in the long run.
The question that is getting asked more and more: Is this incompetence or is it being done deliberately?
