“How that’s handled could produce something that is much worse than a recession.” Like when FDR outlawed sound money in 1933, didn’t let the malinvestment flush out, and whose unprecedented market interventions and expansion of Federal power were so successful, that the unemployment rate was still over 15% in early 1940.

And yet in every school in America, children are taught that FDR is a hero who saved the country with the New Deal, instead of what he actually was: a socialist dictator.