If this "Darby" has had such a profound discovery, why are text books, scholarly articles and academic papers TO THIS DAY quoting the original numbers? Why have you just now discovered him? It's like you found an additional Book to the Bible and want me to believe its' gospel by virtue of its' existence. And I am to believe that a president as desperate for positive economic numbers as any CiC in history allowed this to occur and both his advisors and economists either missed it or didn't care? As it stands now "Darby" is an illegitimate source.
Furthermore, my KEY point that New Deal had not worked by 37-38' because it was unable to "cease and desist" the government spigot without a recession, is explained away by you as a "psychological effect" - that is ABSOLUTE AND UTTER conjecture! YOU have some keen 70 year old insight to the hearts and minds of consumers, investors and businessmen of the day so as to conclude that it was a "psychological recession?" Are you joking? New Deal had ample time to work (what parts weren't thrown out as un-Constitutional by the SCOTUS). Were our economy and markets "healed", had New Deal "worked", were the gains not artificial then the economy would have been able to sustain those gains ON ITS OWN. THAT is the obvious conclusion ... rather than some nuanced, psycho-babble, subjective insight into the thoughts of John Q. Public circa 1938.
You pull a guy none of us has ever heard of, whose theory isn't found in any contemporary history text, then defend the Roosevelt Recession as one based on the psychological fear that the "spigot" was off, rather then the obvious answer that the economy WAS CLEARLY STILL ON LIFE SUPPORT, and YOU don't know what to say to ME?
Like I said ... pull obscure, nay unknown, economic theories and 70 year post-psychological evaluations that avoid the obvious out of your a** as much as you want. I am quite done here. Everything I needed to say on the subject, outside of this rebuttal, was said in the last half of my last post.
Good day sir ... and I just don't have time to hit local micro breweries on the way home from being screwed on OT .... :-)
Tuesday, March 16, 2010
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