Threat of Nationalizing (Liberty Magazine, 1938)
In the winter of 1938, when one of FDR’s anointed Brain Trusters made an off-the-cuff remark that the Federal Government would take over industry if the economy did not turn around, it must have alarmed many of the industry captains and sent the stock market through the floor. It also moved the eccentric Bernarr MacFadden (1868 – 1955) to put a fresh ribbon in his typewriter and have at it:
The present administration has made a ghastly failure of the business management of this government. It has increased the national indebtedness at the rate of five to ten million dollars every day. It has added more than twenty thousand million dollars to our national debt, and it probably has twenty million or more of our citizens on the dole, or in charity jobs, which is the dole in another form.
Threat of Nationalizing (Liberty Magazine, 1938) Read More »