Detroit Automakers A Relic Of The Past
Celebrity Fires Consume the Media
To Battle Stations
Failure To Blow Election Stuns Democratic Party Faithful Mourn End To Losing Tradition
Looking Past Palin
The Earth’s Not Flat and It’s Not Warming
A Force For Good -- But Not At State
Palin Saboteurs Want to Kill Her Career Now
As GM Goes, So Goes The GOP
Happy Thanksgiving
Quantum Of Nonsense
Obama's School Choice
And They're Off
Time To ReassessThe Iraq War?
Erbe: Liberals,Get A Grip
Leaving Home
From Victim To Victor In Black America
They Gave All, For . . . This?
'No' To Obama'S Experimental Government
Failure Is Not An Option
Weekly Review
Keeping Cool Over Joe Lieberman
Leaders Duck And Hide While Wall Street Steals From Us
Obama's Call To Service Meets The Economic Meltdown
A Bridge We Need
Trusting Paulson
The Secret Of Happiness
History Is Screaming
'Keynsian Moment' Needed To Fight 'Great Recession'
A Lemon Of A Bailout
For Obama, A Game Of High-Stakes Fiscal Poker
No One Should Be Railin' Or Bailin' On Palin
Must Obama 'Discipline' Democrats?
A Warrior Departs: 'Tell Them My Story'
The Insane Rage Of The Same-Sex Marriage Mob
Sarah Palin Is Not The Future Of The GOP
Walking On Sunshine
Hillary Appointment: The Audacity Of Broken Promises
GOP Needs Night Of The Long Knives
Obama's Washington
The New World Financial Order
A Bomb Thrower Vs. Obama Bashers
Let'S Hope Gop Will Give Us SomeThing To Vote For Rather Than Against
Is Gay The New Black?
DiscriminaTion Still Lives
The Truth about Government
Quo Vadis GOP
Sunset For The Old White Guys
Note To Gop: Get Serious About Women Candidates
Revenge Of The Boxes
Change We Can Bank On
Let Them Eat Spam
Choices Have Consequences -- Unless You're Joe Lieberman
Dean: Dems 'Big Tent' Party Now
Don't Bail Out the Big 3 -- Interview With Dan Ikenson
The Other Deficit
Blind Defense of Koran Abrogates Reality
Some Of My Best Friends Are…
In Detroit, Failure's a Done Deal
Evil Concealed By Money
The Clinton Gamble



Hoover-Era Ghost Stories No Longer Apply
Jonah Goldberg 10/3/2008
Digg This Story!
Del.icio.us Reddit StumbleUpon Yahoo! MyWeb Technorati Google Bookmarks Furl Ma.gnolia Newsvine Bloglines Rojo Facebook

A very old story is once again being retold, with a few of the characters' names updated to besmirch the innocent. In this story, conservatives are to blame for an economic crisis because they allegedly believe there is no role for government in the economy, and all economic crises are due to lax regulation of markets.

Cokie Roberts recently gave a sense of how old this story is on ABC's "This Week." She said of John McCain, "He's a Republican, and whenever Republicans get into this kind of mess, everybody, even people who were not born or close to being born, the specter of Herbert Hoover comes out to haunt them."

Everybody?

Roberts is correct in one sense. The specter of Herbert Hoover is conjured every time there's an economic calamity, large or small.

But you know what? Specters are ghosts. And ghosts aren't real.

The Herbert Hoover of popular imagination was a laissez-faire lickspittle of Adam Smith. But this idea began as Rooseveltian propaganda and endures as the creation myth of modern liberalism.

William Leuchtenburg, possibly the greatest authority on the FDR era, wrote some time ago, "Almost every historian now recognizes that the image of Hoover as a 'do-nothing' president is inaccurate."

After the stock market
crash of 1929, Hoover browbeat business leaders to keep wages and prices high. He invested heavily in public works projects. He pushed for an international moratorium on debts. He created the Reconstruction Finance Corporation, which later became a home for many of FDR's Brain Trusters. Hoover increased farm subsidies enormously.

Some of Hoover's interventions were good but ineffectual. A few were very, very bad and very effective.

In 1932, Hoover in effect repealed Calvin Coolidge's tax cuts, increasing the rates for the poorest taxpayers by more than 100 percent and hiking the top rate from 25 percent to 63 percent. Worse, contrary to his own better instincts, Hoover signed the disastrous Smoot-Hawley trade bill that raised protectionist walls at precisely the moment the world needed trade the most.

Then there's this idea that FDR rode to the rescue, saving the day by untying the American people from the railroad tracks of runaway capitalism. Former Clinton Treasury Secretary Lawrence Summers, now a surrogate for Barack Obama, recently said on NPR: "It's very tempting to always think that the government should just stand back and let the private sector sort these problems out. That's the kind of thinking that made the Depression 'Great.'"

Add Feed to ZapTXT Add Feed to Bloglines Add Feed to Technorati Add Feed to LibWorm! Add Feed to My Yahoo! Add Feed to Google Add Feed to Newsgator Add Feed to Rojo Add Feed to Windows Live Add Feed to My MSN
McCain As Hoover
By John Darkow - Columbia Daily Tribune, Missouri * Posted 9/16/2008 12:00:00 AM
Post to MySpace!
Comment
Email
McCain As Hoover
© Copyright 2008  John Darkow - All Rights Reserved.

Posted By: jack sprat  on Tuesday, October 07, 2008

Wild Bill or Ross Perot same difference, try Jerry Browne again or the other eco wack job.

Same problems as I have vote against the worst of the two, my method is still see who Hamas, Hezbollah, Farrakhan, Chavez and Castro wants and vote against him.

I do love the JFK immitation by one of the candidates, JFK wanted to cut income taxes, capitol gains, and any other business killers, as he said, would cause "a rising tide lifts all boats", he also promised at least a drop to a 5.7% unemployment rate, without inflation.

All policies counter Carter/Obama proposal.


Posted By: Good Life  on Friday, October 03, 2008

It was the Republicans, with deregulation and tinkle down, in the Reagan, Bush, Bush, Newt years.


Posted By: jack sprat  on Friday, October 03, 2008

I used to vote against Leech, feared the accuracy of his name. The only truth I see is that when Republicans act like Democrats, they still get Democrat results. RINO’s like Bushy, Leech, Lugar, et al are not “centrists” just stupidly thinking the Dem’s “will come around.”

President for life Roosevelt, as much as I may have learned to respect him, was the closest America has come to a dictator, arguably the second was Wilson.


Posted By: Jim W.  on Friday, October 03, 2008

Ah! People who refuse to see both sides of an issue are blind in one eye and can't see out of the other. Thats what prejudice is. Democrats have a real monopoly of it, judging by the 2 letters above. Would you dear folks please be so kind as put your head in the toilet 3 times and bring it up twice? Thanks.


Posted By: dEd Grimley  on Saturday, October 04, 2008

The problem is that Republicans aren't the conservatives they paint themselves to be. They've adopted a slew of socially conservative issues, while becoming big budget spenders that a true conservative would, and have, decried. Look at George Will for God's sake, wouldja? How content has he seemed with the current crop of "conservatives?" Nay, the Republicans have come to rely so heavily on the religious Right, that they've completely lost their way in terms of being financially conservative. They keep harping on the horrors of democratic leaders wanting to raise taxes and increase spending, where the Republicans have been spending and spending, and then attempt to regain their popularity with tax cuts that eliminate the funding that would pay for it. For everything I've ever heard about the Democrats being "immature" or whatever other ridiculous epithet you wanna try to tack on, they're the ones who are being responsible.

Finally, one thing has been bugging me with McCain's ads, unrelated to this article... He keeps saying Obama will raise taxes. Does anyone know on who and on what?


Posted By: Jim W  on Saturday, October 04, 2008

Reminds me of the Apostle Pauls words-" With good words and fair speeches they deceive the hearts of the simple". So tell me, what has changed in 1900 years? Politicians lie- they think that's their right to do it, and if you're not smart enough to catch them, you deserve whatever they stick to you. Take it to the bank.


Posted By: jack sprat  on Saturday, October 04, 2008

BO says he will raise taxes only on those making $250k, but he has never voted against any tax hike, as state or Federal Senator. He keeps saying that he (BO) will actually give a tax break to "95%" of Americans; unfortunately 10% or so pays up to 65%-75% of the taxes already. He wants to raise taxes on unemployment substantially for those over $100k, double the capital gains taxes, here’s a link for “a comparison” I don’t know if it’s for one side or the other, “at your own risk”, but they seem to lay out each tax position and the result. I have heard BO claim no tax increase of any kind on anyone under $250k. a bit hard to believe since he wants to eliminate the “Bush” tax cuts which helped the Bottom 50% of wage earners pay 3.6% of the taxes to 5.8% of the taxes under Clinton.

A couple of things to keep in mind regarding tax cut promises, it doesn’t matter how much you say you will give back if your spending plans are for trillions in new programs. BO voted to raise taxes on those making $42,500, but he’s not going to raise taxes on you and still have trillions in new spending? I might remind you that the first thing, and perhaps the only thing Pelosi did was to raise taxes after gaining the House. When Clinton was elected on a platform of “tax breaks” for the middle class, he got into office and then said, “hey, the economy is worse than I thought, so we’re going to raise taxes”, on guess who? Mondale on the stage of the convention after getting the official nomination was overheard saying, “we’re going to tax the hell out of you”, but he too promised tax breaks.

Hope the links help you.

http://www.snopes.com/politics/obama/taxes.asp

http://www.ustreas.gov/press/releases/js1287.htm


Posted By: DB  on Sunday, October 05, 2008

When it comes to our government, I'm an American first and silly party affiliation comes somewhere around 10th.  I always find it strange that those that say that they love this country are willing to sacrifice it for sake of greed and obviously failed political policy.  I wouldn't insult Hoover's memory or any past American leader for the sad performance of this administration, Congress or Supreme Court.  True Americans can change things by holding every Republicans accountable for the performance of their party while holding all three branches of government.  Once patriotic Americans stand behind the Democrats for roughly a decade and if they fail, then the voters of this country should throw them all out and vote the Independent candidates in.  Short of putting forth YOUR solution to the REAL problems of this county why not put your silly political comments where they belong...in the compost bin.


Posted By: Billy14921  on Sunday, October 05, 2008

Keep Deaming. The Warren Harding/Cal Coolidge/Herb Hoover Role has been played by W and "experts" like whiney Phil Gram. It was the low margins required for stock purchases (like our "cheap money", and highly leveraged aquisition mentality) and laissez - fair policies of Republicans (business is the business of America - thanks Cal, Bush or Gramm couldn't have said it better) that brought on the 1st Big One.. As Harry Truman once said, "The only thing new in the world is the history you don't know". Take another look at your history books before you pontificate.


Posted By: dEd Grimley  on Sunday, October 05, 2008

Ya know, I'm watching "This Week" this morning, and I hear Ed Rendell question Tim Pawlenty about how McCain's economic strategy was any different than Bush's. His response was that McCain disagreed with Bush several times over the course of his presidency on things like climate change and the strategy in Iraq. Politics is really beginning to disgust me. (Yes, I know ALL politicians avoid answering questions, and I really just wanted to share a BS response to a very legitimate question.)


Posted By: John Handforth  on Monday, October 06, 2008

Jim W -

I can't take it to the bank.  If I take to the bank, the bank will have to tell Obama, if he is elected.

If Obama finds out that I have it, he will find a way to take it.  My granddaughter has $1800 in a trust fund.  We stopped depositing money in it when the I.R.S. started taking 20% of the interest that she earned each month, when Clinton was running the show.

When I couldn't get a reason from the I.R.S., I wrote to Bill Clinton.  Obviously, I wasn't important enough and her $15 a year was too little to bother with.

The sad part is that Clinton the Liar looks better than Obama.


Posted By: Random Thoughts  on Monday, October 06, 2008

I will not say that the Republicans had no part of deregulation, BUT IT WAS CARTER who got the ball rolling.

Carter, Reagan and Daddy Bush all contributed to the problem, believing that deregulation stimulated the economy by increasing competution.  Now we know that they were wrong, but hindsight, after all, is 20/20.

Clinton, Rhodes Scholar that he was, didn't just stimulate the economy.  He titilated it almost as much as he did Monica Lewinsky.  He left nothing for Baby Bush to deregulate.

It was actually Baby Bush that tried, and failed, to reign in Fannie Mae and Freddie Mac by requesting more oversight and capitalization.  I still think that Barney Frank should be charged with treason, or at least perjury.

One of the things that Carter did was initiate the Monetary Control Act of 1980, which is still on the books.  That bill requires annual oversight of the banking industry.  If someone had been paying attention, we might be a little better off than we are now.

Another thing that we should do after the election, is to restore the Banking Act of 1933, which was probably the best thing that can be attributed to FDR.  It required that banks, stock brokerage and insurance companies NOT be legally affiliated.  It kept a LOT of people honest.  That was another thing that Clinton disposed of.

You know, Clinton the Republican deregulator.

Neither McCain or Obama would have been my choice to even win their party nomination, never mind the White House, but we're stuck now.  I hope that everyone will write in Bill (Governor of New Mexico) Richardson, instead of either one.

If Obama is elected, he will ruin it for tthe Democrats for the rest of my life.

Make A Comment
We appreciate your feedback. Post a comment using the form below.
Your Name (required)
Your Comments
Type the characters you see in the image: