In other words, let’s do everything exactly the OPPOSITE way we did to get out of The Great Depression!
Here’s Nobel Prize winning economist, Paul Krugman, on how WWII ended The Great Depression. This quote is from episode 250 of Real Time with Bill Maher, which aired May 25, 2012:
We ended the Great Depression with a great program of government spending for an unfortunate reason. It was known as World War II…but when the war broke out in Europe, and we began our buildup that Great Depression that had been going on for ten years. People thought it would go on forever. Learned people stroked their chins and said there are no quick answers. In two years, employment rose 20%. That’s the equivalent of 26 million jobs today, the depression was over. We had full employment, and it never came back, or it didn’t come back until 2008, because people managed to pay down those debts, and we had a durable recovery.
Watch the video, courtesy of Mark Fiore: