Tuesday, February 10, 2009
Economic Crisis: The Blind Leading the Blind
There are certainly people who are intentionally pushing various bailout and stimulus schemes for personal profit (see this, this and this).
But many in Congress are simply ignorant about how we got into this mess . . . so they cannot possibly figure out how to help us out of it. Ron Paul has repeatedly said this, as have many others. Financial writer Paul Kedrosky says Congress is so clueless that it needs a remedial course in basic finance.
Congressman Paul Kanjorski honestly expressed this fact when he said:
Ya know, we're not any geniuses in economics or finances... We're representatives of people. We ought to take our time, but let the people know this is a very difficult struggle.
Somebody threw us into the middle of the Atlantic Ocean without a life raft and we're trying to determine what's the closest shore and whether there's any chance in the world to swim that far. We. Don't. Know.
But at least economists know what's going on, and are properly advising Congress, right?
Unfortunately, mainstream economists themselves understand neither the cause of or the solution to the crisis.
It is truly the blind leading the blind.
Unfortunately, the truth about how we got in this mess and how to get out of it will not be understood - let alone discussed - for several more years.
4 comments:
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The truth is already out there and if they would remove their blinders they would not be in the dark. It's really simple, Chicago School (free market) philosophy and their deregulation beliefs have put us where we are. They have had the same results in every country they have been tried. Since Aristotle it has been known that a country must have a manufacturing base to thrive. You can't replace that with fancy investment schemes that are no different than a Ponzi Scheme. When the mortgage market rules were eliminated and then the mortgages they knew were bad from the git go were bundled sliced and diced to many times their face value and when the underlying mortgages reset the game was over. Like a giant snowball it rolls down the hill and it's really just begun. To say you can't see the cause just says your blind.
ReplyDeleteIt is certainly no more difficult than figuring out that 911 was an inside job. Along with the now familiar laissez-faire capitalism, greed, and corruption, the development of technology helped fuel the first Depression by mechanizing farming and putting people out of work and off their land. The system got shored up, aided by putting the overflow to work in factories. A war didn't hurt, either.
ReplyDeleteWe are now approaching Depression 2. It is really an extension and no less manipulated. Technology has finally put about everybody out of work. That, and offshoring anything else to despot controlled slave labor. The thing is, there is nobody left to buy goods and the system is finally collapsing.
The dummies hastened the meltdown using the CDS scheme in hopes of getting together a one world government/new world order as the savior for the created crisis. They want an excuse to control everything before the paradigm shifts and they become obsolete. The new reality is individuals and smaller entities utilizing the same technology to do an end run around top heavy monopolies. Doing nothing would ensure continued chaos and play right into their plans to keep things static and further consolidated. It would not clip their wings or stop the party and just might buy us another war.
It is not that complicated.
"But many in Congress are simply ignorant about how we got into this mess ..." Many may be, but most are definitely not. This type of parasite is always working for himself. The criminals in the District Of rarely miss a trick, either -- ask people who have worked up on the Hill for awhile. Our "representatives" are surely benefitting from all this, somehow.
ReplyDeleteIt is the Federal Reserve World Banking System that has created this mess. Congress has failed to rid our country of these banking rulers of the world. These worldly Federal reserve bankers create money out of thin air; thus,the financial systems of the world are not of principle nor soundness but are built upon nothing. These banking elite are the dictators of this world they print money in every country and charge the people of all countries usuary interest rates on the money they print. Hence the income tax, every cent of income tax the united states collects from its citizenry go's to the Federal Reserve World Bankers in interest payments for their paper money they print for us. Their is no freedom in this world only peasentry and ever increasing taxes upon the people to pay their Federal Reserve World Banking Masters.
ReplyDelete