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Interesting article from the NYT of all sources, even they get it right once in awhile. The author makes the point that the dem obama economic take the same approach as the NAtional Socialist did in Germany in the 30's. Of course there are differences Obama will slash defense spending for example.
Now before anyone's head explodes... not one that obama is planning to set up camps for white evangelical christians, just that the economic and stimulus appraoch are the same.
Germany did escape the Great Depression faster than other countries. Corporate profits boomed, and unemployment sank (and not because of slave labor, which didn’t become widespread until later). Harold James, an economic historian, says that the young liberal economists studying under John Maynard Keynes in the 1930s began to debate whether Hitler had solved unemployment.
When governments have taken aggressive steps to soften an economic decline, they have succeeded. The Germans did it in the 1930s. Franklin D. Roosevelt did so more haltingly, and had more halting results. Even the limp Japanese recovery plan of the 1990s makes the case. Although dithering over a bank rescue kept Japan in a slump, government spending on roads and bridges made things better than they otherwise would have been.
No matter what happens in London on Thursday, President Obama and other world leaders are sure to claim the meeting as a success. (“I do not regard the economic conference as a failure,” Roosevelt said in 1933.)
But if the meeting is going to be an actual success, it will have to do more than put a happy face on trans-Atlantic disagreements. It will need to begin nudging the discussion about stimulus toward a more accurate reading of history.
IMO the basic premise is correct, the economic approach of the obama is that of the National Socialist Workers Party of Germany in the 1930's.
Here is another article from 1997. It comments on 2 books 1 in 1944 by Ludwig von Mises: Omnipotent Government: The Rise of the Total State and Total War, the other written in 1939 called: The Vampire Economy: Doing Business Under Fascism by Guenter Reimann. Again if you focus on the economics the approach used by the National Socialist sound just like what the current administration is trying to do with private business (think GM and the banks for starters), power under the guise of addressing a 'crisis'.
The difference between the systems, (Communism in Russia and National Socialism) wrote Mises, is that the German pattern "maintains private ownership of the means of production and keeps the appearance of ordinary prices, wages, and markets." But in fact the government directs production decisions, curbs entrepreneurship and the labor market, and determines wages and interest rates by central authority.
Under fascism, explains this businessman, the capitalist "must be servile to the representatives of the state" and "must not insist on rights, and must not behave as if his private property rights were still sacred." It's the businessman, characteristically independent, who is "most likely to get into trouble with the Gestapo for having grumbled incautiously."
Off to CSPAN to see another businessman being grilled by B Frank and regulated by Geitner....
"Some guys play in all-star games, some guys don't. I don't know who picks all those all-star teams. In all honesty, I don't know who picks the combine, for that matter," Belichick said. "How does (Miami-Ohio offensive lineman Brandon) Brooks not get invited to the combine? How did Vollmer not get invited to the combine? I don't know. We can't really worry about that. We just have to try to evaluate them the best we can."
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