World War II Didn’t End The Great Depression, by Brian McGlinchey

How can a diversion of resources, including personnel, from peaceful economic pursuits to wartime production and the destructiveness of combat be good for the economy? From Brian McGlinchey at starkrealities.substack.com:

A myth that fosters undue enthusiasm for government spending

A principal goal of Stark Realities is to “expose fundamental myths across the political spectrum” — and few myths are as universally embraced as the notion that US participation in World War II (1941-1945) lifted the American economy out of the Great Depression.

This myth is dangerous not only because it leads citizens and politicians to see a bright side of war that doesn’t really exist, but also because it helps foster a belief that government spending is essential to countering economic downturns. That belief, in turn, has helped propel us to a point where the national debt now exceeds $34.6 trillion, with interest payments alone on pace to reach $1 trillion a year in 2026, inviting financial catastrophe.

In part, the wartime-prosperity myth springs from the fact that, during conflict on the scale of World War II, broad, macroeconomic measures like gross national product (GNP) and the unemployment rate are completely untethered from the economy’s most important facet: the standard of living enjoyed — or endured— by everyday people.

Between 1940 and 1944, real GNP rose at an unprecedented 13% annual clip. Using GNP alone, one would think the war delivered a major improvement in the standard of living, with Americans enjoying a greater abundance of goods, accompanied by a rise in quality, selection and affordability.

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One response to “World War II Didn’t End The Great Depression, by Brian McGlinchey

  1. Sun von Rommel's avatar Sun von Rommel

    The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists” — Ernest Hemingway

    The old war is good for the economy cow patties.

    Orwell called it a tax and the Brandonflation is almost like a wartime fee for the land of the knave.

    A HS bud’s grammaw showed us her WWII ration book which was in good condition, it was a grid with boxes for individual items with butter, sugar, meat, and others.

    This soft weak bugman society won’t be able to handle rationing but they won’t have to due to the attacks on the supply chain, food processing and shipping routes.

    You can’t ration what isn’t there.

    Also you can feel the hate on the streets and trash talk, some might just say gibsmedat at your food pantry with a heater or two.

    Leave The World Behind wasn’t just a movie, it was a revelation of method.

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