I repeat: It must be nice to be able to always blame someone else for your failures. Mr. Bond's letter is good and has some valid points; however, some of the things he says are misconstrued. First let's look at some things we agree on:
"Unrestrained Capitalism is a train wreck headed full speed toward destruction." Absolutely true, there is a great old (conservative) book on that subject called "The Naked Capitalist". Why do the "super-wealthy Capitalists" almost all, always support "Socialist centered Democrats" and/or "Rockefeller (Socialist) Republicans"?
The pre FDR era was tragic. Absolutely true, the reasons for it and the cure are what are in question.
The economic situation today is a mess. Again, absolutely true, the reasons for it and the cure are what are in question.
Now let's look at where we disagree, because I say:
"Unrestrained Government" and/or "Unrestrained Religion" (a subject for another time) are even worse than "Unrestrained Capitalism" although they all three lead to the same end, with the "elite" controlling everything and "the vast majority" (sometimes called the great unwashed) being enslaved or killed. (As in historic Communism and Nazism, both "Socialist" forms of government)
The pre FDR era was caused more by the formation of the Federal Reserve in 1912-1913 (a private organization) and its manipulation of the money (intent on a federal personal tax) than by the administrations between Wilson and FDR. The pullout was mostly by the pulling together of the nation and the increased (private) manufacturing in support of World War II, than it was by the "New Deal" or the WPA, CCC's etc.
Labor Unions that have gotten so big they become 'the tail that wags the dog,' a dog cannot live with a tail it cannot drag; that is unless someone caters to its every whim. Example, the "Big Three Auto Companies Bailout" that was more a "Bailout of the Union." They should have let the auto companies fail, and the unions with them. The auto companies are the ones that caved in and made union contracts they cannot afford to pay. Check out the pay and incentives for "UAW Union Employees" to get full pay or almost full pay "to do nothing" if a plant closes and they do not want to relocate. These are "Assembly Workers" not "Manufacturers," and they helped create the situation that led to sending almost all the auto manufacturing out of the country. Unions unrestrained are like a cancer that is destined to kill the body that feeds it.
There are ways to cure our nation's economic ills, but Socialism is not it; and the G.W. Bush hide and sign whatever the "liberals in Congress" hand you is not it either. Amnesty for "illegal aliens" is totally off base.
I had and still have some serious differences with Reagan's administration, however in my opinion, he stands head and shoulders above any other "United States President" in the 20th or so far in the 21st centuries.