UCLA says Roosevelt Created Depression

by James Denison - 9/6/13 11:29 PM

In Reply to: History: The town that FDR killed by James Denison

Finally, even universities are starting to compare Roosevelt days to our current days and realizing just how wrong they've been on who to blame for the Great Depression.

Also note the date, this is before Obama was even elected to Presidency, before he was in office. Notice the underlined last sentence, then remember what's been going on. Class dismissed.


http://newsroom.ucla.edu/portal/ucla/FDR-s-Policies-Prolonged-Depression-5409.aspx

August 10, 2004
"Two UCLA economists say they have figured out why the Great Depression dragged on for almost 15 years, and they blame a suspect previously thought to be beyond reproach: President Franklin D. Roosevelt.

After scrutinizing Roosevelt's record for four years, Harold L. Cole and Lee E. Ohanian conclude in a new study that New Deal policies signed into law 71 years ago thwarted economic recovery for seven long years.

"Why the Great Depression lasted so long has always been a great mystery, and because we never really knew the reason, we have always worried whether we would have another 10- to 15-year economic slump," said Ohanian, vice chair of UCLA's Department of Economics. "We found that a relapse isn't likely unless lawmakers gum up a recovery with ill-conceived stimulus policies."