Should Obama Fire Economic Team? – Leslie Marshall on America Live w/ Megyn Kelly 8/24/10

Dear Ms Marshall, As I watched you on Mr Oreilly’s news segment ;you made a declarative statement that a decade of creating a economic problem could not be over come in two years ! I found it necessary to inform you that you are incorrect! If not familiar with history we are doomed to repeat it,in 1920 we had a depression of the same or greater magnitude of the one facing Mr Obama as he took office,{no not the great depression of 1929} the one of 1920 which had terrible losses for land owners in Florida and the collapse of many industries , land speculation in Florida had boom then bust rail roads went bankrupt along with the Tea Pot dome scandle affecting the oil companies and loss of confidence in Government . However the government did not financially intervene on behalf of the wealthy and the bankers and wall street tycoons had to take the loss for the bad decisions they made and many were ruined . However new industrialist sprung up and new innovation to transporting goods presented themselves ie trucking company’s . New capitalists were born and new companies grew out of the chaos a new group of people ascended the ladder of capitalism in our nation.And more wealth was created .We recovered from this disaster by the summer in of 1921! 18 months! In contrast the depression of 1929 did have intervention from the government 40 billion dollars sponsored through the Federal Reserve to protect the wall street tycoons and bankers from another loss like in 1920, as a result we experienced a protracted period of depression that lasted for a decade and would have dragged on for another decade or possibly longer with all the financial suffering on the shoulders of the poor and middle class,except for the world war 2 and with or location being out of bombing range which allowed for us to supply the needs of Great Brittan and her allies !As we are repeating the mistakes of the past now with the massive stimulus and rampant run away spending along with erosion of confidence in our leaders that are disconnected from the suffering of or Nations people! But as Mr. Emanuel said you dont want to waste the opportunity that a serious crises presents ! The progressive movement in Germany didnt waste their financial crises opportunity either ,they made many of the same overtures and speeches, speeches ,speeches,while stifling their oppositions point of view from the media,as it would only confuse the the people ! Sound familiar,! Best wishes and found regards, yours truly, Louis Miele