Current Economic Catastrophe Illustrates American Stupidity and Insanity

There is an old but true saying that, most interestingly, goes as follows: Fool me once, shame, shame on you; fool me twice, shame, shame on me.

In terms of modern American economic history, there has come about the farce of seeing circumstances being substantially repeated a third time; the repeating of history a third time, moreover, has been correctly called a farce. 

To wit, the Panic of 1907 (the  1st instance) had, later, called forth the massive State interventionism regarding what became the Federal Reserve System, in 1914, and certain related “reforms” that were, supposedly, very specifically designed to forever prevent what was later revealed had been substantially provoked by the existence of a central banking system for this nation. 

The Stock Market Crash of 1929 (the 2nd instance) leading to the Great Depression of the 1930s brought about the massive State interventionism of the Securities and Exchange Commission and other Federal government agencies and multibillion dollar programs and actions that were, the nation was officially assured once again, actually designed to forever prevent, once again, what had, in fact, happened; this was with the existence of a central banking system that was, of course, basically assumed to be able to fully or, at least, mainly prevent what had occurred. 

The Stock Market Crash of 2008-09 (the 3rd instance) has, as easily predicted, resulted in massive State interventionism; this is seen in various multibillion dollar bailouts, multibillion dollar stimulus packages, multibillion dollar programs, policies, etc. that have been and will be done, once again, to make absolutely certain that these measures will forever prevent what happened from, thus, happening again in American history; the central banking system, meaning the Federal Reserve System, did not stop what happened, a second time around, concerning the events and circumstances observed.   

As is well noted above, however, history repeated a third time is farce.   The idiotic political response, done by and through the elected representatives of the people, now quite substantially and, moreover, substantively illustrates the fundamental stupidity of the American people during this current economic catastrophe.   Q. E. D.

But, much more than this can be profitably and knowingly said.  Doing the same thing repeatedly that does not ever at all achieve the desired or expected result, while irrationally expecting that a different (meaning successful or positive) result will occur (each time), when in empirical point of fact it will not, is the very definition of insanity.   Thus, the majority of the inhabitants of this nation as to its citizenry have responded to this monumental economic crisis in highly explicit terms of incredible and unpardonable asininity and insanity galore, which ought to leave all intelligent and informed people almost speechless when, thus, witnessing this extremely horrible spectacle.

It has been truly well said, therefore, that one cannot ever really go broke simply overestimating the expansively enormous credulity of the American people.  Thus, massive State interventionism always fails ever time it is tried, as can be easily and readily proven, again and again, by historical reading and cognate research.   One can, e.g., read: Amity Shlaes’ The Forgotten Man: A New History of the Great Depression, Jim Powell’s FDR’s Folly: How Roosevelt and His New Deal Prolonged the Great Depression, Gene Smiley’s Rethinking the Great Depression, and many other related volumes. 

Besides all that, the reader is directed to the Austrian School of Economics as to the many extended details and analyses involved with totally disproving the spurious claims of collectivism, statism, by whatever euphemism.

H. L. Mencken, where are you when we so desperately need you?!?!