Obama Repeating Mistakes of Great Depression

A new study endorsed by Nobel laureate James Buchanan provides an alarming view of Obama's failed policies. Charles K. Rowley, Duncan Black Professor of Economics at George Mason University, and general director of The Locke Institute has concluded that "it is not impossible that the US will experience the kind of economic collapse from first- to third-world status experienced by Argentina under the national socialist governance of Juan Peron." In an important new monograph, Rowley and co-author Nathanael Smith, also from the Locke Institute, warn that Obama is making the same mistakes that led to the Great Depression.