FDR or The Little Book of Bull Moves in Bear Markets

FDR: The First Hundred Days

Author: Anthony J Badger

The Hundred Days, Franklin Roosevelt's first fifteen weeks in office, have become the stuff of legend, a mythic yardstick against which every subsequent American president has felt obliged to measure himself. The renowned historian Anthony J. Badger cuts through decades of politicized history to provide a succinct, balanced, and timely reminder that Roosevelt's accomplishment was above all else an exercise in exceptional political craftsmanship.

Declaring that Americans had “nothing to fear but fear itself,” Roosevelt entered the White House in 1933 confronting 25 percent unemployment, bank closings, and a nationwide crisis in confidence.From March 9 to June 16, FDR sent Congress a record number of bills, all of which passed easily. From legalizing the sale of beer to providing mortgage relief to millions of Americans, Roosevelt launched the New Deal that conservatives have been working to roll back ever since. Badger emphasizes Roosevelt's political gifts even as the president and his brain trust of advisers, guided by principles, largely felt their way toward solutions to the nation's manifold problems. Reintroducing the contingency that marked those fateful days, Badger humanizes Roosevelt and suggests a far more useful yardstick for future presidents: the politics of the possible under the guidance of principle.

Kirkus Reviews

A leading New Deal scholar summarizes and provides critical analysis of President Roosevelt's groundbreaking initial domestic and foreign initiatives. Badger (American History/Cambridge Univ.; The New Deal: The Depression Years 1933-1940, 1989, etc.) reveals little new information here. The book's distinguishing feature is the interpretive light the author shines on FDR's political skills. The president's ability to persuade lawmakers and his willingness to base policies on pragmatism rather than ideology sowed the seeds for the success of the programs subsequently implemented. Roosevelt, whom conservatives often demonize for having created the modern welfare and regulatory state, was in many respects a reluctant proponent of activist government. Badger notes that FDR's policies at various times were criticized equally harshly by those on the left and the right. He also maintains that while many of the policies initiated during this period provided at least short-term relief to many people, their more significant impact was on the nation's overall spirit and sense of self: "What he had not found in 1933 was the magic key to economic recovery. But in the Hundred Days Roosevelt demonstrated that a democracy need not be paralyzed in the face of economic catastrophe." The author is less certain about another legacy of that period. By starting his presidency with such a flurry of activity, Roosevelt established a standard that journalists and historians have since used as a benchmark for measuring other presidents, most of whom have fallen short. Badger synthesizes a great deal of information in a small space, producing a readable, though not terribly lively narrative. Will appeal most toacademics and well-read general readers; more casual history buffs may find some of the prose a bit dense.

Table of Contents:

Time Line     ix
Introduction     xi
The Problem and the Players     3
Ten Days That Opened the Banks     23
First Priorities     47
Industrial Recovery: The Belated Priority     83
The Progressive Impulse     109
The International Option     135
Conclusion     151
Bibliographical Essay     175
Acknowledgments     185
Index     187

Book review: English Civil War or Zionism Militarism and the Decline of US Power

The Little Book of Bull Moves in Bear Markets: How to Keep your Portfolio Up When the Market is Down

Author: Peter D Schiff

The Little Book that helps investors avoid big losses in an economic downturn

In the wake of falling stock and real estate prices, the American economy is poised for a decade-long bear market, so says Peter Schiff. After he accurately predicted the current market turmoil, savvy investors should pay attention--and start protecting their assets now, before the markets take their toll. The Little Book of Bull Moves in Bear Markets shows investors how to stay safe and stay liquid during economic downturns.

Using economic history as a guide, Schiff looks at the bear markets that followed the bull markets of the 1920s and 1960s to predict what the American economy will look like after it corrects for the tech and real estate bubbles of the 1990s and early 2000s. Combining financial, economic, and political perspectives, Schiff looks at what worked in those earlier bear markets and predicts what strategies are most likely to work over the next ten years. In the end, Schiff argues that the next decade will most closely resemble the 1970s, complete with inflation, rising interest rates, and soaring commodity prices. This reversal of trends will make past investment strategies obsolete and pose a challenge for investors trying to build and protect their wealth. Smart investing will always pay off; the key lies in using the best strategies for the market at hand. For investors who see the writing on the wall but don't know what to do about it, The Little Book of Bull Moves in Bear Markets offers a timely, critical answer.

Peter D. Schiff (Darien, CT) is President of Euro Pacific Capital, Inc., and one of the few non-biased investment advisors to have predicted the current bear market and positioned his clients accordingly. He appears twice a week on the FOX Business News network and has been quoted in such publications as the Wall Street Journal, Barron's, the Financial Times, and the New York Times. He is also the author of Crash Proof (978-0-470-04360-8), from Wiley.