COTD From The Wayback

Obama's Directive 10-289: "To: mnehring IMHO Michael Barone missed what ended the “Great Depression” and what is needed to end our current one. What ended the depression of 1932 wasn't FDR and that has been known for years. What ended that depression was a massive influx of “free money” from Europe that started around 1938. Europe was facing another massive war and its leaders knew they couldn't out produce Germany which was on a war footing. So, they came to America with their national gold reserves and invested in America's future production. The declassified secret histories of World War II show multiple transfers of gold reserves to the US to serve as both collateral and investment capital. In a micro sense - how would your personal finances change if you could suddenly double or triple your pre tax income without working more than the standard 40-hour week? Take that level of change and apply it to the nation for a four year period, 1938 - 1941. After 1942 we were on a war footing ourselves which lasted another 4 years. After that we were the only intact industrial base in the world. My ideas as to where we could find another surge of “free money” to pull us out of this depression is the subject for another posting. "

Interesting.