Are We Heading Towards Another Great Depression?
Court historians have thoroughly white-washed the horrors of the New Deal.
Just look at your average history class. Professors boldly declare that the New Deal was a net positive for society. If it wasn’t for then-president Franklin D. Roosevelt’s bravery, the US would have been thoroughly gobbled up by the predatory capitalist system.
However, real history had something else to say.
Farmers at the time were subjected to a grotesque economic experiment. Throughout the Great Depression, farmers witnessed their crops’ and livestock’s value plummet sharply. Countless people working in that sector lost their livelihoods, while many others scraped by throughout the depression.
The New Deal brain trust picked up on this trend and attributed the low prices to a glut in livestock. In response, they pressured the federal government to pass the Agricultural Adjustment Act of 1933.
Under this new law, the federal government implemented “emergency livestock reductions.” Like any looney government program, this was a euphemistic term New Dealers used to mask what really was a government-promoted mass animal slaughter program.
Under the pretext of fighting Great Depression, the federal government purchased and slaughtered tons of livestock. According to libertarian historian Tom Woods’s research, the AAA paved the way for the slaughter of roughly six million pigs to artificially prop up livestock prices high during the Great Depression.
The AAA and other interventionist programs were part and parcel of the New Deal era. This was an epoch when the state took an unprecedented role in Americans’ economic activity.
Despite the massive degree of economic intervention, the New Deal did nothing to get the US out of the Great Depression. As a matter of fact, it prolonged and exacerbated the US’s economic stagnation in the 30s and early 40s.
It wasn’t until the post-World War II rollback of big government that the US was able to fully recover from the Great Depression and become the world’s sole economic superpower.
Fast forward to the present, we continue to see politicians using the state and central banking to micromanage our economic affairs. This will inevitably result in another Great Depression economic scenario, possibly even worse.
It’s anyone’s guess how this will play out.
Our very own George Gammon thinks bad things are in store for the American economy.
Get a red-pilling perspective on the future of the American economy by tuning in to this recent episode on George’s main YouTube channel.
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