FAST FORWARD IN THE USA AS LEFTIST HAVE RUN TO THE GROUND THE USA EDUCATION SYSTEM AND THE TEACHING OF THE YOUNG TO NO AVAIL AND ITS ECONOMY–CONSIDER THE REVISIONISTS THAT THE POTUS FRANKLIN ROOSEVELT THE GREATEST PRESIDENT FOR ENDING THE GREAT DEPRESSION WITH THE NEW DEAL WHEN IN FACT THE SOCIALIST POLICY THAT DROVE AWAY FROM CAPITALISM HAVE FORCED DOUBLE DIGIT UNEMPLOYMENT FOR DECADES FROM 1930 TO 1940 AND EMPLOYMENT PARTICIPATION TO ITS LOWEST SIMILAR TO THE POTUS BHO ECONOMIC POLICIES THAT HAVE DROVE THE EMPLOYMENT PARTICIPATION TO THE 60% AND NOT UNTIL WW2 DID THE USA COME BACK TO ITS RIGHTFUL ECONOMIC STRENGTH–AND TODAY THE SAME POLICY OF BAILOUTS OF TOO BIG TO FAIL MANTRA HAS NOT RETURNED THE EMPLOYMENT PARTICIPATION THAT WOULD LIFT THE COMMON AMERICAN TO THE MIDDLE CLASS–AS MORE SPENDING BY THE SOCIALIST POTUS BHO FROM THE ONCE $10 TRILLION IN 2008 IN DEBT HAS MUSHROOMED UNDER THE DEMOCRAT SOCIALIST SPENDING SPREE OF $18 TRILLION IN 2015 - YET THE COMMON AMERICAN IS NOT WELL OFF AND WORKS PART TIME TO MAKE ENDS MEET

My 13-year-old son told me at the dinner table the other day that Franklin Roosevelt was one of America’s “greatest presidents” because “he ended the Great Depression.” He’s usually a good student, so I checked where he got this tripe, and sure enough, the fairy tale was right there in his American history book.

The textbook tells kids that the New Deal ended the Great Depression and even saved capitalism. Of course, the New Deal exacerbated the pain and financial devastation of a stock market crash, and unemployment lingered in double digits for a decade after Roosevelt was elected until the start of World War II.

We get this kind of rampant revisionism because the left writes the history books—which they are doing right now.

Here’s the latest story line: bailouts, trillions of dollars of government spending and debt, easy money, and re-regulation of Wall Street ended the 2008 Great Recession. The myth took on new life last week when Ben Bernanke took a bow in the Wall Street Journal for, in his mind, saving the economy with his $3 trillion of quantitative easing and zero interest rate policy. No, actually, this is what created the crisis. Don’t be surprised if Bernanke receives a Nobel Peace Prize.

As my fellow Heritage colleague Norbert Michel and other scholars have thoroughly documented, the crash of 2008 was caused by government policies and regulatory failure, including easy money policies that flooded the markets with debt. Within a decade, these policies led to preposterous mortgage loans being issued, and massive over-leverage of government, companies, and households.

Now the Fed, the White House, and Congress are recreating the very same conditions for another financial bubble. If it pops, we could replay the same devastating effects as occurred during the first bubble in 1999 and 2000. It is doing so in four ways:

First, the Dodd-Frank regulations are exacerbating one of the greatest consolidations of the banking industry since the Great Depression. Those indispensable small banks, like the one Jimmy Stewart operated in the movie “It’s a Wonderful Life,” are disappearing from the American landscape.

http://dailysignal.com/2015/10/16/washingtons-set-the-stage-for-another-financial-crisis