The stock market bull correlated with World War II. FDR needed a war
to hide the ineptness of his policies. FDR's post
election year endured classical bearishness with a 15.4% drop, but the
surge in the manufacturing of ordnance contributed to the stock market
bull during this era..
Increased manufacturing during the war years
heightened union memberships. That facilitated FDR's re-election in 1945.
FDR, like any politician, will support unionism, since that offers a large
block of votes. It does not matter if such support is correct or aligned
with universal law. The only issue is to get the largest number of votes.
Unionism's acceptance and popularity coincided with communism. That is
when a group of folks concur that they, alone, cannot stand. In essence,
it is a paradigm of a gathering of the weak.
Strong people, such as Walter P. Chrysler,
who was a shop worker at GM, did not join the weak. He started his own
company. That is what the strong do. The weak, through threats and
coercion, generally wreak havoc. FDR supported the latter group, while few
politicians would side with Walter P. Chrysler, since he and his staff
were only a few votes. Such relational conditions with tyranny by the
majority, slows economic progress. Getting the most votes is job one to
the egomaniacs. FDR brought this decaying result to a new level.
Alfred P. Sloan of General Motors spent most of his time before and during
the war arguing against FDR policies; one of which, was FDR's incessant
support of labor unions. Politicians need votes and they tend to cater to
and support large groups, despite margin compressions at the companies who
employ unions. You pay the premiums for that relationship in the purchase
of union made products, but most are incapable of recognizing that.
Notice that FDR's death did not impede the
stock market bull. On the contrary, it enjoyed an unusual bullish surge in
the post election year of 1945.