One Year: 1942 | 1. The Most Hated Man in America
Slow Burn
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Inflation and Supply and Demand in 1942
In 1942, President Roosevelt laid out a spending plan for the war that would cost $56 billion. Leon Henderson: Firing up the American war machine was absolutely essential but extraordinarily risky. He says it created the possibility of unbelievable inflation unless he could stop it. "So must these rugged old virtues of honesty, thrift, and fruit-galley come to the foreign all of us," Henderson said.
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