The “Only Thing We Have to Fear Is Fear Itself: FDR’s First Inaugural Address Thom Hartmann has a new book out: *The Plot to Destroy America -- and What We Can Do to Stop It. How to stop the looters from taking the reins of power and pillaging the nation into collapse.* alternet.org/thom-hartmann-plot-destroy-america-and-what-we-can-do-stop-it In it, he highlights many of the parallels between The Great Depression and The Great Recession: how the country fell into chaos, and the solutions needed to fix it. “The only thing we have to fear is fear itself” is not a call to action by Franklin Delano Roosevelt to get us geared up to fight the rise of fascism in Europe, but rather a call to arms to fight unemployment, wealth inequality, a crooked financial sector, and The Great Depression. Other powerful quotations from FDR’s 1933 speech should serve as a compass to guide our current efforts to end The Great Recession: This great Nation will endure as it has endured, will revive and will prosper. Let me assert my firm belief that the only thing we have to fear is fear itself—nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance. In every dark hour of our national life a leadership of frankness and vigor has met with that understanding and support of the people themselves which is essential to victory. I am convinced that you will again give that support to leadership in these critical days. Primarily this is because the rulers of the exchange of mankind’s goods have failed, through their own stubbornness and their own incompetence, have admitted their failure, and abdicated. Practices of the unscrupulous money changers stand indicted in the court of public opinion, rejected by the hearts and minds of men. The money changers have fled from their high seats in the temple of our civilization. We may now restore that temple to the ancient truths. The measure of the restoration lies in the extent to which we apply social values more noble than mere monetary profit. Happiness lies not in the mere possession of money; it lies in the joy of achievement, in the thrill of creative effort. The joy and moral stimulation of work no longer must be forgotten in the mad chase of evanescent profits. Our greatest primary task is to put people to work. This is no unsolvable problem if we face it wisely and courageously. It can be accomplished in part by direct recruiting by the Government itself, treating the task as we would treat the emergency of a war, but at the same time, through this employment, accomplishing greatly needed projects to stimulate and reorganize the use of our natural resources. In our progress toward a resumption of work we require two safeguards against a return of the evils of the old order; there must be a strict supervision of all banking and credits and investments; there must be an end to speculation with other people’s money. Our international trade relations, though vastly important, are in point of time and necessity secondary to the establishment of a sound national economy. Read the full transcript of FDR’s courageous call to arms at historymatters.gmu.edu/d/5057/ After 5 years of unprecedented conservative obstructionism against recovery, economic hostage taking, and capitulation by President Obama to more failed Trickle Down economic theory: it is time to change course. We need to courageously take those bold actions that were taken to fix The Great Depression to end this Great Recession. Mr. President, your legacy is at stake. Create jobs, even if it requires massive public works projects. Regulate the financial sector. Curb wealth inequality.
Posted on: Tue, 12 Nov 2013 22:16:10 +0000
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