HayekSmith

Manufacturing Collapse Reminiscent of Great Depression's Beginning

Your article provides a clear view of the current situation.

Throwing in a little history from this point in the Great Depression, FDR discouraged employers from hiring anybody by adding new rules, increasing taxes and sticking it to any entrepreneurs who wanted to start a business. "That great sucking sound" was the wealth of the nation being vacuumed to Washington D.C. with measures like the April 5, 1933 Gold Confiscation and the January 30, 1934 devaluation of our currency wiping out 41% of U.S. savings accounts in one terrible swoop.

When the Obama administration realizes just how far federal revenues have fallen, we'll see how much of the wealth gets "spread around" to private citizens and how much he really just wants to feed loyal government employees.

I agree, this economic cataclysm has just barely begun...