Peter Schiff on Richard Shelby WWII Myth

War can not bring an economy out of a depression. If it were true then we should build a bunch of tanks and bombs and just sink them to the bottom of the ocean. We could have a huge economic boom.

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• world
• WWII
• great
• depression
• myth

[erismo23]

Real GDP per capita DECLINED after WW II. It did not rise to 1944-5 levels again until 1958-9. Where is the boom?

[wmh1982]

@erismo23 GDP is a B.S. calculation. When the government builds a tank or a bomb, it adds to the GDP but it is the opposite of productivity. GDP does not account for savings rate, capital accumulation or even inflation since its used with another phony gov't number, the CPI.

[erismo23]

@MAZDAKPRODUCTION To get more gold, you have to invest in capital resources such as mining equipment and labor. The more we extract, the more scarce it becomes. The supply of gold is limited and all of this serves to stabilize the gold/money supply. Paper money can be printed at any time, infinitely. If you don't see the difference, go read some articles, pretty much anywhere will do.

[MAZDAKPRODUCTION]

The Gold argument does not hold water. After all all values are perceived. There is no real value with any thing. If the so called FIAT money is Green paper then Gold is just yellow metal.

[UltraConservative298]

World War II merely diverted production from essential items to the machine of war. It only delayed the recovery from the depression. It makes me sick how so many people are stupid enough to swallow this Keynesian economics bull shit.

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