Scientism: The New Road To Serfdom Revisited, Part 5

As we indicated in Part 4, if there is any single image that has been proffered to validate the entire Keynesian project up until this very present day, it is the myth that the U. S. banking system had utterly failed by March 1933 and that businesses and households were suddenly left destitute and unable to even access their own cash deposits.

The image of a banking system gone dark, in fact, spells structural failure like no other. So over the succeeding decades the March 1933 “banking crisis” has become the prima facie reason why Washington monetary and fiscal Nannies must always be on the alert, ready to inject massive stimulus and bailouts whenever the macro-economy falters even slightly.