January 30, 2009

Selling Apples_ac10c.jpg (new faces - different apples)

From the Second Fireside Chat of September 30, 1934, FDR laid out the progress the administration was taking in light of the disaster several months earlier. All the elements were laid out - Bad investments, Wall Street on a rampage, jobs evaporating, savings gone. The big difference was implementing curbs and regulations which didn't exist prior to the New Deal. Today the look is what was ignored, abandoned and deregulated. Then as now, the outlook was slow and the recovery painful. But there was recovery.

History does get painful from time to time . . . .

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