Rare wisdom

Via RealClear, one economics writer actually understands the New Deal! This is unique! Nearly all modern writers on politics and economics either hate FDR because he was “commie” or hate FDR because he was “fascist”. Nobody understands why the New Deal worked, why it created such long-lasting fierce loyalty.

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Energy security deserves its place as another third rail of American politics, a pledge that no politician dares to break. Through the years, virtually all Americans have come to consider Social Security and Medicare as sacred promises to our citizens. While some might suggest tinkering with them from time to time to address solvency and fairness, politicians from the left and right have united around them, acknowledging the crucial role they play in our society.

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The New Deal copied the Soviet system without Stalin’s tsarist brutality. It promised:

1. Employment security. (WPA, CCC)

2. Retirement security. (SS)

3. Energy security. (TVA, Bonneville, REA)

4. Food security. (AAA, FCA)

Later, after medical care became more effective and more expensive, SS was expanded to Medicare for elders. We still don’t have medical security for younger folks. Romneycare helped some people and harmed most people.

The foundation for security is FEROCIOUS restraint on Wall Street and bankers. Halting the banks was FDR’s first act, the necessary prerequisite for restoring civilization. When presidents released the brakes in the 70s and 80s, Wall Street bombed us down to bedrock again.

Energy security meant dams and rural grids in the 30s. In the 50s it was extended to nuclear, still under the auspices of the New Deal’s TVA and REA. Nixon and later presidents stopped CLEAN nuclear power and hydropower, leaving only DIRTY coal and natural gas. (“Wind” and “solar” are not energy sources, they’re profit for Chinese mines and factories, decreasing our energy security AND our economic security.)