Nobel Laureate: Obama is Making the Same Mistakes That the Great Depression Policymakers Made

The proof is in the pudding. The economy is not doing any better and we're nearing 100 banks closing this year alone. I say the FDIC reaches the magical 100 number within the next three (3) weeks. As a result, I would have to give a negative approval to Obama's financial and economic work and agree with the new report saying that Obama's mistakes are the same mistakes made by the people who brought us the Great Depression back in the 1930s.

His policies even have the potential to consign the US to a similar fate as Argentina, which suffered a painful and humiliating slide from first to Third World status last century, the paper says.

There are "troubling similarities" between the US President's actions since taking office and those which in the 1930s sent the US and much of the world spiralling into the worst economic collapse in recorded history, says the new pamphlet, published by the Institute of Economic Affairs.

Source: London Telegraph