The View From 1776

John T. Flynn: A True Liberal

From the 1920s until the late 1940s, John T. Flynn was a highly regarded and influential journalistic analyst of American political and economic affairs.

His descriptions of Franklin Roosevelt’s New Deal and Mussolini’s fascist state corporatism, in important respects identical political revolutions, are paralleled by the gulf between President Obama’s campaign rhetoric and promises and his performance in office.

Posted by .(JavaScript must be enabled to view this email address) on 10/31 at 12:36 AM
  1. Excellent article and a reminder of how we have been warned for decades about the risks we were adding to our long term future by continuing down the path we have been on.
    Posted by JanPBurr  on  10/31  at  12:47 PM
  2. The comment appears to be a feeble attempt to link Obama with Mussolini-style fascist state corporatism, using lots of words but precious little evidence.

    For a contrasting view, see the column of Nicholas Kristof, in the Oct 31, 2010 edition of the New York Times. Kristof includes in Obama's achievements health care reform, pulling the economy of a death spiral toward Depression, auto industry bailout, push for clean energy, Lilly Ledbetter Fair Pay Act, tighter tobacco regulations, reform of credit card industry, and doing something about the state of education in this country with the Race to the Top.
    Posted by .(JavaScript must be enabled to view this email address)  on  10/31  at  04:54 PM
  3. Mr. Jay, you have to remember that the president hasn't had any accomplishments yet. The things mentioned are works in progress and all will collapse when the economy, government and currency collapses.

    For example, how will the auto industry buy steel when it is $10,000,000 a pound or more or a tire is similar in price or they have to pay workers $10,000,000 an hour for them to buy food?

    How will the health care bill help when aspirin is $1,000,000 a bottle or more or a box of latex gloves is in the millions?

    We know that clean energy can't be achieved globally because emerging markets are growing emissions faster than the developed nations reduce them because instead of reducing them, they buy credits to keep the emissions above desired levels.

    Also we can't grow clean energy business because our policies drive business, jobs and investment dollars out of the the nation as we see with more and more of our businesses reducing operations here while the expand operations in the nations where there is growth.

    We have not reformed the credit card industry because they can still charge double digit interest and issue cards to people who can't pay the debt they put on the cards.

    Education is still falling. We are dropping in ranking, not gaining globally. The fastest computer in the world has now been developed in China, not the U.S.

    Again, this is not this presidents fault and you can credit him for trying if you agree that a strong central government is good for the nation (it isn't). But, you can't say he has succeeded until we see what happens when the dollar collapses and the government collapses.
    Posted by JanPBurr  on  10/31  at  06:39 PM
  4. Mr. Jay:

    Your comment is completely irrelevant to the burden of the post.

    Perhaps you merely read the headline summary, without bothering to read what Mr. Flynn had to say regarding the close parallels between Mussolini's gradual imposition of fascist state corporatism and the moves of President Franklin Roosevelt, some of them almost identical to Mussolini's actions.

    No one is doubting President Obama's "accomplishments." We are decrying the socialistic/fascistic nature of those "accomplishments," which you list.
    Posted by .(JavaScript must be enabled to view this email address)  on  11/01  at  12:42 AM
  5. I am denying his accomplishments since they are works in progress. For example, most of the health care bill doesn't begin until 2014.

    In the meantime, the taxes collected for that start up are being put in a trust fund that loans the money to the government and thus, there will be no money for start up in the fund, only non-marketable bonds we would have to borrow money for, to buy back.

    As you may have seen, that is when the President forecasts deficit spending to rise again.
    Posted by .(JavaScript must be enabled to view this email address)  on  11/01  at  09:11 AM
  6. Mr. Brewton,

    Perhaps you regard pulling an economy out of a death spiral toward depression, and saving the auto industry from collapse as "Mussolini style fascistic corporatism."

    I dare say that most of America would not agree with your characterization. Indeed, the anger that has ignited most of the Tea Partiers (who will be voting in a cadre of Hayek/Von Mises fans today) was that Obama did not do ENOUGH to restore the economy - not that he did too little.

    While they fault Obama for what they mistakenly believe is a governmental "takeover" of health care, their real anger is that the economy is still in rough shape and they can no longer live the good life they were so used to.
    Posted by .(JavaScript must be enabled to view this email address)  on  11/02  at  10:21 AM
  7. He has not pulled us out of a death spiral. Nobody can. Why do you think spending 10% of GDP to get 2% growth is pulling anything out of a death spiral?

    We are facing hundreds of thousands of layoffs in the cities and states according to Bernanke since they can't balance their budgets if they don't.

    Think what that will do to housing, tax revenues, unemployment, etc.

    In Michigan, they are hiring guards for all unemployment offices to prepare for the people who have seen their 99 week unemployment benefits run out.

    Where do you see any improvement? All you see is that when you devalue the dollar and throw enough money at the economy, you can create an illusion that it isn't going down as fast as it really is.

    Yet, if we stop the spending, we collapse. So, we are still in a death spiral because if we keep spending we collapse. Mr Jay, how do you see a collapse regardless of what we do as not being in a death spiral?
    Posted by .(JavaScript must be enabled to view this email address)  on  11/02  at  11:38 AM
  8. What is he, the president or Batman? You sound like you get your economics from comic books. This 'heroic politician' nonsense IS fascism. "Pulling us out of a death spiral". What idiocy!
    Posted by .(JavaScript must be enabled to view this email address)  on  11/03  at  10:08 AM
  9. I guess, Tom C., you did not believe Bush's Treasury Secretary Henry Paulson, when he said we were headed for an economic disaster unless we signed on to the Bush TARP and AIG bailouts.
    Posted by .(JavaScript must be enabled to view this email address)  on  11/03  at  11:36 AM
  10. Mr. Jay, what does what happened under Bush have to do with now. All he did was delay the depression and collapse as he was told to do by his cabinet (Goldman Sachs, CFR, Trilateral Commission,etc, just like this President is following the advice of Goldman Sachs and CFR and Trilateral Commission.

    We are in a death spiral that began in 1913 and was shown as to how dangerous it was in the 20's that caused the depression in the 30's. The same things that caused the 30's depression have never gone away. For at least the decades since the 60's, we have accelerated the death spiral as can be seen in this chart on the diminishing return on debt.

    This is interesting in that the introduction to this chart spoke of a very volatile time in this election where the people were fed up.

    Winter 2010 will, equally, be the stage for another destabilised event in the United States: the first major elections since the beginning of the crisis (17) when millions of Americans will probably express their feelings that they have had a
    Posted by .(JavaScript must be enabled to view this email address)  on  11/03  at  02:02 PM
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