A new paper endorsed by Nobel Laureate James Buchanan, and written by economists Charles Rowley of George Mason University and Nathanael Smith of the Locke Institute, says
It is also not impossible that the US will experience the kind of economic collapse from first to Third World status experienced by Argentina under the national-socialist governance of Juan Peron.”
“[Franklin D Roosevelt's] interventionist policies and draconian tax increases delayed full economic recovery by several years by exacerbating a climate of pessimistic expectations that drove down private capital formation and household consumption to unprecedented lows
They went on to say that there are “troubling similarities” between today and the 1930’s, when government turned a recession into a depression. As we have harped on your many months on this blog, the U.S. is headed towards financial ruin. Our currency is devalued, businesses are overburdened with taxes, families are in heaps of debt, and the government wants to make things even worse. The next financial crisis will be worse than the first…
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