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Obama stimulus in 1931 - Herbert Hoover

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Published on Jul 26, 2012

Nothing too special about this, on the surface.

Yet another president announces stimulus, which has always worked. Oh, wait.......

The text of this speech can be found here:
http://www.presidency.ucsb.edu/ws/?pi...
Radio Address to the Nation on Unemployment Relief
October 18, 1931

It's easy to understand that governmental stimulus is universally wrong when you see and hear how many times and by how many people it's utterly failed.

In reading the transcript, you will notice that he speaks highly of the individual, yet with his actions he does the opposite. It is not individuals who will save us, it is governmental stimulus that will save us. Had Hoover been a "do nothing" president like his predecessors Coolidge and Harding, the roaring 20's would've likely kept on roaring into the 30's. But because he meddled, we'll never know.

We the people are the solution. Government is the problem. No matter who grows it.

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