Sunday, March 8, 2009

"Hooverism" is Obamanomics

I reckon that I have a very masochistic occupation during my weekends: I use to watch US Liberal political shows, in other words I watch MSNBC. One of the most colourful liberal anchors of this channel is probably Rachel Maddow. Constantly denouncing and condemning the so-called right-wing intellectual fallacy on a very sarcastic tone with a simplistic and demagogic rhetoric, Ms Maddow is, for me, the liberal version of Ann Coulter.

In her show last Friday, she argued, that Republican President Herbert Hoover was somehow a fiscal conservative who cut spending and did nothing (nothing liberal of course) to resolve the economic depression.

Once again, farcical journalism is back: facts are replaced by grotesqueness.
Hoover was a proponent of tight collaborations between private companies and governments called sometimes volutarism or associationalism. Appointed as a secretary of commerce under the Warren G. Harding administration, he was willing to transform the free market nature of the US commerce with plans for the government to be "the economic interpreter to the American people". As a president, Hoover continued to surf on this wave of Wilsonian progressivism, by enacting the revenue act of 1932 which increased taxes by 30% on high-income Americans. The Reconstruction Finance Corporation was also a brainchild of the the Hoover administration injecting billions of dollar to local governments, banks, and businesses to recover from the crisis. We always mention FDR as the originator of public works and reconstruction after the Great Depression but the true mastermind of this policy is unmistakably his predecessor. Indeed, Hoover was the genuine creator of the Emergency Relief and Construction Act and was one of the first to tour accross the US to advocate central planning and interventionism.

All these measures sound familiar to you? I would say that it tastes like Obamanomics, isn't it ? Well, One of the reasons that could drive liberals to lynch Mr Hoover is maybe because his policies were a total failure and they are therefore fearing the comparison between the 31st president of the United States and the 44th one alias "Mr Change".