It gets worse. The administration has not only made government bigger,
they have made government part of the free enterprise system by printing
money to keep large financial institutions from failing. This means that
the lose will be shared by everyone who holds dollars. In other words,
currency debasement is used to save an incompetent part of the
capitalistic system. In the past when its currency was debased by a
country, the government made no pretense about free enterprise. Only in
the US has the Bush administration found a way to fool the tax payers
into believing this is a natural and necessary part of free enterprise.
We are such fools!
Ed
R C Macaulay wrote:
Lets see if I have this straight in my mind.. Bear Stearns is an
investment bank.. not a bank, so they cannot borrow money from the Fed.
JP Morgan-Chase is a bank.. so JP borrowed 15 bil and change from the NY
Fed and loaned it to Bare nekid because it's " too big to fail".
Translation.. when there is $ 550 trillion dollars in funny money (
derivitives) in play out there in the great game, us good ole boys need
to stick together of somebody's gonna thinks wez a bunch of crooks.
Richard
The USA has operated under the Keynesian economic model since FDR.
This model ,as in all pyramid schemes, anticipates a sustained gravy
train with biscuit wheels economy where everything purchased
yesterday will be paid for in tomorrows dollars.... well.. err..
until.. there is no tomorrow.
Thomas wrote,
It's the mother of all pyramid schemes. John Kenneth Galbraith was a
student of John Maynard Keynes, and a member of ,That Awful Man in the
White House's brain trust. Someone pointed out that his economic ideas
wouldn't work in the long run. Galbraith's reply was, "in the long run
we will all be dead." Galbraith died a few months back, his scheme out
lived him.
The deterioration of the US economy is following an exponential curve.
With the rejection of the US dollar by oil producing countries, this
deterioration has now gone into the straight up portion of the curve.
It has been prophecized that a new source of energy will emerge in the
next 5 months, which will allow America to balance it's trade deficit.
Yah, Yah, and my pig plays the flute.
