BERLIN, Germany (CNN) (February 22, 2009)– The world needs a “global New Deal” to haul it out of the economic crisis it faces, Prime Minister Gordon Brown of the United Kingdom said Sunday. Gordon Brown addresses a press conference following a G20 preparatory meeting in Berlin, Sunday.
Gordon Brown addresses a press conference following a G20 preparatory meeting in Berlin, Sunday.
“We need a global New Deal — a grand bargain between the countries and continents of this world — so that the world economy can not only recover but… so the banking system can be based on… best principles,” he said, referring to the 1930s American plan to fight the Great Depression.
Brown was speaking as the leaders of Europe’s biggest economies met to try to forge a common position on the global financial crisis ahead of a major summit in London in April.
March 9, 2009, Irish Times; BRITISH PRIME minister Gordon Brown will this week seek to position himself as President Barack Obama’s partner in “a global new deal” stretching from the villages of Africa to the financial institutions of London and New York.
Like Obama, Brown is not faring too well in the public opinion polls. What is the “global New Deal” and what does it mean for America. The Communist American Prospect says, “Barack Obama may well seek a new New Deal to right a profoundly dysfunctional American economy. But he faces one constraint that Franklin Roosevelt didn’t have to confront in the 1930s: The economy that Roosevelt saved was fundamentally a national economy that could be altered by national policies. The economy that Obama must fix, by contrast, has national dimensions that can be altered by national policies, but in matters ranging from corporate conduct to consumer safety to Americans’ incomes, not to mention global warming, purely national solutions no longer suffice. To fix America today requires fixing global systems. The next New Deal won’t work if it’s only American.”
The “New Deal” of Comrade Roosevelt, that the quote refers to, was a plan to stimulate the economy by spending money. The same system that the Weimar Republic tried to fix their economy which eventually led to the introduction of a friend of Roosevelt’s, Adolf Hitler. The “New Deal” did little to stimulate the economy then as it is doing little now. The economy continued to spiral out of control due to the Federal Reserve caused depression until we entered World War II. That was because industry had to gear up to build a war machine to defeat Hitler’s already advanced weapons. Industry was moving, again, and they had to hire people.
In 1995, economist Robert Whaples of Wake Forest University published a survey of academic economists that asked them if they agreed with the statement,
“Taken as a whole, government policies of the New Deal served to lengthen and deepen the Great Depression.”
Fifty-one percent disagreed, and 49 percent agreed. Whaples today says that the New Deal remains a thorny issue for economists because it’s so difficult to measure the effects it had on the country. “You need a credible model of the economy, and not everyone is going to agree on what that model should be,” he says.
I don’t recommend a war if we don’t have one on the horizon. After the war our economy continued to improve. People needed houses, washing machines, television sets, radios and so-on. Industry is what caused us to become the world power that we were. So much so that the government decided to levy an excise here and a corporate tax there. They had to pay for all of the unnecessary wars that came after; Korea, Viet Nam, Grenada, Operation Desert Storm and the current Iraq and Afghanistan situation. We had to send money to the Chinese and Russians to prop them up as a “threat” to the United States. Is it any wonder that industry left for those countries? They had no Unions to cut into their “bottom line.” Your government chased the jobs away. Don’t blame the corporate moguls.
Entering into a world banking system will not help our economy. It will only make your currently devalued dollar absolutely worthless. In other words, you give up the wealth and sovereignty of the United States.
There is a fix, however, that is known. Returning the United States monetary system to the hands of the Congress and backing it by gold, silver and platinum. The World Bank does just that. They back their banks by gold. Your gold. Taken out of the United States of America.
There are a myriad of videos on youtube.com which explains who a gold system works. Search with the terms gold standard or hard money. I recommend that you view them before you urge anyone to sign on to a “global New Deal.”