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The Emperor Has No Clothes; Nor apparently do his financial advisers
Almost fell off the rocking chair today learning the President of our once prosperous nation wants to bail out the world, since we caused the mess.
Take it over might be more like it. In yer dreams brown eyes.
How? With more IOUSAs while China and Russia demand gold instead of our electron IOU currency?
Generals fight the last wars.
So do some economists, apparently.
Witness the Chairman of the Federal Reserve Bank, in actuality a private 20:1 leveraged 6% dividend corporation with its fleet of jets, helicopters and private dining clubs, allegedly controlled by Rothschild and Rockefeller nominees, and the US Treasurer, Timothy Geithner, tax dodging protégé of Henry Kissinger, Robert Rubin and Larry Summers, current Chief Economic Advisor to the President.
Doppelganger economisseds may claim they are thoroughly schooled in the economics of the Great Depression. One even promised Milton Friedman on his 90th birthday he would not let another Great Depression happen. So far since the Great Panic of 2008 began, they are batting zero.
We note 1913 Fed and Income Taxes hardly failed to prevent or fix the Crash of 1929 and subsequent two decade depression.
In fact, institutions with unwise government command economies built on debt and deficits extended the Crash and Correction from the typical few years prior to the Fed, to a few decades of Great Depression. Ron Paul reminded them of this in Congress and the three Blind Bankers sneered.
1949 was the final bottom of the Great Depression in real people terms. It took 25 years for 1929 Dow holders to break even in inflated terms. There is a good reason our Constitution bases prosperity on liberty, gold and silver equity. It works.
One reason for current lack of success may be that FDR, who got mistaken credit for leading US out of Depression by taking us into World War II, didn’t come to power for four years after the 1929 crash, well after Hoover’s many similar progressive policies failed miserably and consigned him to cursed eponymous historical status. It’s been scarcely a year since the Panic of 2008 began.
Another factor may be today’s failed prescriptions are yet more of the same deficit usury drugs that got US into trouble: perverted NeoKeynesian notions of counterfeiting more fiat money and passing bigger bills for insider free lunch on to taxpayers and future generations, also called generational theft.
