Editor’s Note: This article was written for the Instytut Misesa in Poland and published in Polish on May 7, 2021. Below is the English version. (The Polish version is here).
The Law and Justice Party of the Polish government is borrowing an old name from American history as a label for a new program of its own. A Polish “New Deal” would draw inspiration from President Franklin Roosevelt’s economic plan of the 1930s, also called the “New Deal.”
Article by Lawrence W. Reed from FEE.
As an American historian with a special love for Poland, I must urge Poles to view this development with great skepticism. The passage of time and more recent, objective analyses of FDR’s program prove the experiment a monumental failure. No government anywhere should try to repeat it. We all have an opportunity to learn the lessons of Roosevelt’s mistakes!
Like FDR’s New Deal of 1933, the Polish New Deal of 2021 is wrapped with seductive promises and undeserved confidence in government planning. If history is any guide, it is likely they will end up at the same dead end. The promises will eventually be seen as cynical wrapping paper for plans that went bust, soaked the taxpayers, lined the pockets of politicians, empowered bureaucracies, and jeopardized the economic well-being of citizens by making them ever more dependent upon the State.
Under the proposed Polish New Deal, the wise nanny state will sketch a blueprint for health; ensure that workers get the proper pay for the right jobs; lay its helpful hand on families, schools and the climate; and everywhere involve itself in the lives and decisions of private, peaceful citizens. Sounds so appealing on the surface, doesn’t it?
Where do these amazing, super-human government officials get all this wisdom? Are they on a mission from God? Should the Polish people assume that if government claims magical powers and good intentions, then it must truly possess magical powers and good intentions?
In the midst of the Great Depression, many Americans put common sense aside and accepted Franklin Roosevelt’s beguiling promises. But decades later, we know that those promises were rooted in politics, not economics, and that the New Deal was nothing more than a series of expensive blunders.
FDR’s own Treasury Secretary, Henry Morgenthau, declared in 1939 (six years after the start of the New Deal),
We have tried spending money. We are spending more than we have ever spent before and it does not work…I say after eight years of this Administration we have just as much unemployment as when we started, and an enormous debt to boot!
Roosevelt’s successor, Harry Truman, once said, “The only thing new in the world is the history you don’t know.” That observation applies especially well to what tens of millions of Americans have been taught about Franklin Delano Roosevelt.
Recent scholarship (such as historian Burton Folsom’s highly acclaimed book, New Deal or Raw Deal?) is exposing the once-popular myth that FDR saved us from the Great Depression.
Another example is a 2004 article by two UCLA economists—Harold L. Cole and Lee E. Ohanian—in the important mainstream Journal of Political Economy. They observed that Franklin Roosevelt extended the Great Depression by seven long years. “The economy was poised for a beautiful recovery,” the authors show, “but that recovery was stalled by these misguided policies.”
Loyola University economist Thomas DiLorenzo pointed out that six years after FDR took office, unemployment was almost six times the pre-Depression level. Per capita GDP, personal consumption expenditures, and net private investment were all lower in 1939 than they were in 1929.
Hell Bent for Election was written by James P. Warburg, a banker who witnessed the 1932 election and the first two years of Roosevelt’s first term from the inside. Warburg, the son of prominent financier and Federal Reserve cofounder Paul Warburg, was no less than a high-level financial adviser to FDR himself. Disillusioned with the President, he left the administration in 1934 and wrote his book a year later.
Warburg offered this assessment of the man who betrayed him and the country:
Much as I dislike to say so, it is my honest conviction that Mr. Roosevelt has utterly lost his sense of proportion. He sees himself as the one man who can save the country, … as the one man who knows what is good for us and what is not. He sees himself as indispensable. And when a man thinks of himself as being indispensable, that man is headed for trouble.
Was FDR an economic wizard? Warburg reveals nothing of the sort, observing that FDR was “undeniably and shockingly superficial about anything that relates to finance.” He was driven not by logic, facts, or humility but by “his emotional desires, predilections, and prejudices.”
“Mr. Roosevelt,” wrote Warburg, “gives me the impression that he can really believe what he wants to believe, really think what he wants to think, and really remember what he wants to remember, to a greater extent than anyone I have ever known.” Less charitable observers might diagnose the problem as “delusions of grandeur.” Warburg continued,
I believe that Mr. Roosevelt is so charmed with the fun of brandishing the band leader’s baton at the head of the parade, so pleased with the picture he sees of himself, that he is no longer capable of recognizing that the human power to lead is limited, that the ‘new ideas’ of leadership dished up to him by his bright young men in the Brain Trust are nothing but old ideas that have been tried before, and that one cannot uphold the social order defined in the Constitution and at the same time undermine it.
An old myth, one that seems silly now in hindsight, suggested that FDR’s New Deal saved America from an economic calamity caused by laissez-faire capitalism. Nothing could be more remote from the truth.
From 1924 until 1929, the government’s central bank (the Federal Reserve) drove interest rates to historic lows through a massive expansion of money and credit. The resulting, artificial boom went bust when the Fed reversed itself and presided over a massive contraction of money and credit from 1929 to 1933.
The allegedly non-interventionist administration of President Herbert Hoover jacked up tariffs in 1930, igniting a world-wide trade war and crushing employment in industries dependent upon trade. Then in 1932, the same administration doubled the income tax. When Franklin Roosevelt ran against Hoover in 1932, he assailed Hoover for imposing “the greatest taxing and spending administration” in American history. Then Roosevelt went on to do more of the same, which stifled recovery for the next seven years.
World War II didn’t end the Depression either. Unemployment fell dramatically in large part because 11 million men were removed from the labor force and shipped to Europe and the Pacific. But standards of living stagnated or fell during the war years. Recovery finally came when FDR was gone, the New Deal was abandoned, government spending was drastically slashed, trade barriers began to come down, and taxes on business income were reduced by more than half.
Did FDR’s New Deal put people to work? Some still applaud the government employment programs he started. But if a thief robs you and then spends your money at his favorite grocery store, would you say he was a grocery store job creator? Only if you forget that every zloty (the basic monetary unit of Poland) he spent there was precisely a zloty you no longer had to spend yourself.
Roosevelt created many programs that robbed Peter to pay Paul and set up an expensive bureaucracy to do it. And he spent the money in ways that were intended to entrench the power of his Democratic Party. After all, he was a human being corrupted by power, not an angel from Heaven.
A common defense of FDR goes like this: “OK, so his New Deal didn’t work out so well but at least he gave permanent shelter to the elderly by creating Social Security!” That ignores the long-term negative side of the program. It is financially unsustainable. In spite of many tax increases over the years, Social Security is headed for insolvency by 2035. If you judge anything by its short-term effects only, you may find yourself in deep trouble when the long-term effects show up.
FDR’s New Deal teaches lessons that both Americans and Poles today would do well to heed. Here is how I would summarize those lessons:
1. Government has nothing to give anybody except what it first takes from somebody—from either the taxpayers of today or those of tomorrow.
2. Government is essentially redistributive. Like a thief, it rarely creates new wealth. It takes existing wealth, wastes a lot of it, buys votes with it, makes people dependent on it, and never admits to its own shortcomings and inefficiencies.
3. Never judge anything, especially the programs of politicians, by the good intentions they express. Consider instead what the long-term consequences might be for everybody. Remember: there is usually a painful “hangover” after a wild party.
Poland is a great country, with a rich history of hard-working people and courageous heroes who earned the country its freedom and independence. What a shame it would be if that heritage were replaced with a new dependence on State power. Worse yet, to build such dependence on false premises and mistaken history would be a national tragedy.
Note: Mr. Reed’s classic “Great Myths of the Great Depression” essay can be read here.
‘The Purge’ by Big Tech targets conservatives, including us
Just when we thought the Covid-19 lockdowns were ending and our ability to stay afloat was improving, censorship reared its ugly head.
For the last few months, NOQ Report, Conservative Playbook, and the American Conservative Movement have appealed to our readers for assistance in staying afloat through Covid-19 lockdowns. The downturn in the economy has limited our ability to generate proper ad revenue just as our traffic was skyrocketing. We had our first sustained stretch of three months with over a million visitors in November, December, and January, but February saw a dip.
It wasn’t just the shortened month. We expected that. We also expected the continuation of dropping traffic from “woke” Big Tech companies like Google, Facebook, and Twitter, but it has actually been much worse than anticipated. Our Twitter account was banned. Both of our YouTube accounts were banned. Facebook “fact-checks” everything we post. Spotify canceled us. Medium canceled us. Apple canceled us. Why? Because we believe in the truth prevailing, and that means we will continue to discuss “taboo” topics.
The 2020 presidential election was stolen. You can’t say that on Big Tech platforms without risking cancellation, but we’d rather get cancelled for telling the truth rather than staying around to repeat mainstream media’s lies. They have been covering it up since before the election and they’ve convinced the vast majority of conservative news outlets that they will be harmed if they continue to discuss voter fraud. We refuse to back down. The truth is the truth.
The lies associated with Covid-19 are only slightly more prevalent than the suppression of valid scientific information that runs counter to the prescribed narrative. We should be allowed to ask questions about the vaccines, for example, as there is ample evidence for concern. One does not have to be an “anti-vaxxer” in order to want answers about vaccines that are still considered experimental and that have a track record in a short period of time of having side-effects, including death. One of our stories about the Johnson & Johnson “vaccine” causing blood clots was “fact-checked” and removed one day before the government hit the brakes on it. These questions and news items are not allowed on Big Tech which is just another reason we are getting canceled.
There are more topics that they refuse to allow. In turn, we refuse to stop discussing them. This is why we desperately need your help. The best way NOQ, CP, and ACM readers can help is to donate. Our Giving Fuel page makes it easy to donate one-time or monthly. Alternatively, you can donate through PayPal as well. We are on track to be short by about $4100 per month in order to maintain operations.
The second way to help is to become a partner. We’ve strongly considered seeking angel investors in the past but because we were paying the bills, it didn’t seem necessary. Now, we’re struggling to pay the bills. We had 5,657,724 sessions on our website from November, 2020, through February, 2021. Our intention is to elevate that to higher levels this year by focusing on a strategy that relies on free speech rather than being beholden to progressive Big Tech companies.
During that four-month stretch, Twitter and Facebook accounted for about 20% of our traffic. We are actively working on operating as if that traffic is zero, replacing it with platforms that operate more freely such as Gab, Parler, and others. While we were never as dependent on Big Tech as most conservative sites, we’d like to be completely free from them. That doesn’t mean we will block them, but we refuse to be beholden to companies that absolutely despise us simply because of our political ideology.
We’re heading in the right direction and we believe we’re ready talk to patriotic investors who want to not only “get in on the action” but more importantly who want to help America hear the truth. Interested investors should contact me directly with the contact button above.
As the world spirals towards radical progressivism, the need for truthful journalism has never been greater. But in these times, we need as many conservative media voices as possible. Please help keep NOQ Report going.
Big Pharma’s Five Major Minions that Everyone, Vaxxed or Unvaxxed, Must Oppose
This is not an “anti-vaxxer” article, per se. It’s a call for everyone to wake up to the nefarious motives behind vaccine mandates, booster shots, and condemnation of freedom.
The worst kept secret in world history SHOULD be that the unquenchable push for universal vaccinations against Covid-19 has little if anything to do with healthcare and everything to do with Big Pharma’s influence over the narrative. Unfortunately, that secret has stayed firmly hidden from the vast majority of people because of the five major minions working on behalf of Big Pharma.
What’s even worse is the fact that Big Pharma’s greed is merely a smokescreen to hide an even darker secret. We’ll tackle that later. First, let’s look at the public-facing ringleaders behind the vaccine push, namely Big Pharma. But before we get into their five major minions, it’s important to understand one thing. This is NOT just an article that speaks to the unvaccinated. Even those who believe in the safety and effectiveness of the vaccines must be made aware of agenda that’s at play.
Let’s start with some facts. The unvaccinated do NOT spread Covid-19 more rampantly than the vaccinated. Even Anthony Fauci acknowledged the viral load present in vaccinated people is just as high as in the unvaccinated. This fact alone should demolish the vaccine mandates as it demonstrates they have absolutely no effect on the spread of the disease. But wait! There’s definitely more.
This unhinged push to vaccinate everyone defies science. Those with natural immunity may actually have their stronger defenses against Covid-19 hampered by the introduction of the injections which fool the body into creating less-effective antibodies. Moreover, the push to vaccinate young people is completely bonkers. The recovery rate for those under the age of 20 is astronomical. Children neither contract, spread, nor succumb to Covid-19 in a statistically meaningful way. What they DO succumb to more often than Covid-19 are the adverse reactions to the vaccines, particularly boys.
All of this is known and accepted by the medical community, yet most Americans are still following the vaccinate-everybody script. It requires pure cognitive dissonance and an overabundant need for confirmation bias to make doctors and scientists willingly go along with the program. Yet, here we are and that should tell you something.
Before I get to the five major minions of of Big Pharma, I must make the plea for help. Between cancel culture, lockdowns, and diminishing ad revenue, we need financial assistance in order to continue to spread the truth. We ask all who have the means, please donate through our GivingFuel page or via PayPal. Your generosity is what keeps these sites running and allows us to expand our reach so the truth can get to the masses. We’ve had great success in growing but we know we can do more with your assistance.
Who does Big Pharma control? It starts with the obvious people, the ones who most Americans believe are actually behind this push. Our governments at all levels as well as governments around the world are not working with Big Pharma. They are working for Big Pharma. Some are proactive as direct recipients of cash. Others may oppose Big Pharma in spirit but would never speak out because they know anyone who does has no future in DC.
This may come as a shock to some, but it’s Big Pharma that drives the narrative and sets the agenda for the “experts” at the CDC, FDA, WHO, NIH, NIAID, and even non-medical government organizations.
Most believe it’s the other way around. They think that Big Pharma is beholden to the FDA for approval, but that’s not exactly the case. They need approval for a majority of their projects, but when it comes to the important ones such as the Covid injections, Big Pharma is calling the shots. They have the right people in the right places to push their machinations forward.
That’s not to say that everyone at the FDA is in on it. Big Pharma only needs a handful of friendlies planted in leadership in order to have their big wishes met. We have seen people quitting the FDA in recent weeks for this very reason. The same can be said about the other three- and five-letter agencies. Too many people in leadership have been bribed, bullied, or blackmailed into becoming occasional shills for the various Big Pharma corporations. Some have even been directly planted by Big Pharma. That’s the politics of healthcare and science that drives such things as Covid-19 “vaccines.”
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JD Rucker – EIC