We've Been Lied To, Robbed, And Misled

Discussion in 'News / Current Events' started by Revmitchell, Apr 1, 2013.

  1. Revmitchell

    Revmitchell
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    Then, when the Fed’s fire hoses started spraying an elephant soup of liquidity injections in every direction and its balance sheet grew by $1.3 trillion in just thirteen weeks compared to $850 billion during its first ninety-four years, I became convinced that the Fed was flying by the seat of its pants, making it up as it went along. It was evident that its aim was to stop the hissy fit on Wall Street and that the thread of a Great Depression 2.0 was just a cover story for a panicked spree of money printing that exceeded any other episode in recorded human history.


    David Stockman, former director of the OMB under President Reagan, former US Representative, and veteran financier is an insider's insider. Few people understand the ways in which both Washington DC and Wall Street work and intersect better than he does.

    In his upcoming book, The Great Deformation: The Corruption of Capitalism in America [37], Stockman lays out how we have devolved from a free market economy into a managed one that operates for the benefit of a privileged few. And when trouble arises, these few are bailed out at the expense of the public good.

    By manipulating the price of money through sustained and historically low interest rates, Greenspan and Bernanke created an era of asset mis-pricing that inevitably would need to correct. And when market forces attempted to do so in 2008, Paulson et al hoodwinked the world into believing the repercussions would be so calamitous for all that the institutions responsible for the bad actions that instigated the problem needed to be rescued -- in full -- at all costs.

    Of course, history shows that our markets and economy would have been better off had the system been allowed to correct. Most of the "too big to fail" institutions would have survived or been broken into smaller, more resilient, entities. For those that would have failed, smaller, more responsible banks would have stepped up to replace them - as happens as part of the natural course of a free market system:

    Read more: http://www.peakprosperity.com/podca...all-street-bernanke-deformation#ixzz2PDfTJLxj
     
  2. poncho

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    I've been saying this for years.

    The Democratic Party, with all of its proclamations of humanism and respect for civil liberties, is a perfect example. How quickly did the rank and file Democrats turn away from their anti-war, anti-torture, anti-banker, anti-surveillance, anti-tyranny stance once Barack Obama, a self proclaimed Democrat, was placed in office? Very quickly!

    And what about the common Republican? How many of them utterly abandoned their ideals of limited government, reduced spending, Constitutional rights, and Christian understanding as soon as Bush and the Neo-Con regime was installed? Most of them!

    And when all is said and done, who has reaped profits and gained dominance during both disastrous administrations? The corporate high priests and international banking cartels, not the oblivious participants of the fake political theater. Yet, a masochistic cycle of misplaced trust in the system on the part of the masses continues...

    If these latest signs of big government corruption aren’t enough to make the public question the validity of the establishment, I’m not sure what will…

    CONTINUE . . .

    I can understand all the misplaced trust in such a corrupt system. People tend to avoid pain when possible what I can't understand is the length some people will go to convince themselves that their loyalty and service to such a corrupt system is somehow patriotic. To some it seems the longer we are in the service of these criminals the more honorable we become?

    Ah well, who am I to question the mainstream consensus and popular history?
     
    #2 poncho, Apr 1, 2013
    Last edited by a moderator: Apr 1, 2013
  3. Earth Wind and Fire

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    This guy is right on top of it...knows what he is talking about....but what are we supposed to do about it?
     
  4. Bro. Curtis

    Bro. Curtis
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    Vote libertarian.
     
  5. Earth Wind and Fire

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    Let me remind everyone that FDR let the banks fail.
     
  6. Bro. Curtis

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    The banks failed in Europe, as well, but their depression was over a lot faster.

    FDR was a true clas-warfare, tax & spend liberal democrat.
     
  7. Earth Wind and Fire

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    Yes but the premise of this guys book is largely that we should have allowed these banks to fail & since we haven't, we are just rewarding bad behavior...the bubble burst will be far worse than what happened last time.
     
  8. Aaron

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    And turned pro-torture, too, as evidenced by Hollywood. 24 Hours showed torture as a reliable way to gain intelligence. After the Gitmo hooplah over things that really aren't torture, you'd hear editorializing in crime dramas like Law and Order about torture not being a reliable method. Now, in Olympus Is Fallen, how did the hero gain intelligence concerning the terrorists in the bunker? He tortured one.
     
  9. Bro. Curtis

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    I find it hard to disagree with him. I must be missing your point.
     
  10. Earth Wind and Fire

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    My point is that I dont disagree with him at all....we should have let the banks fail. We also though need to put regulators & regulative laws back into effect so it doesnt happen again.

    Lastly we need to dispose of the Ben Bernickis of the world, they are not helping the current situation.
     
  11. Revmitchell

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    Which regulations, specifically, would have kept this from happening?
     
  12. Earth Wind and Fire

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    The Glass–Steagall Act
     
  13. Revmitchell

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    I and many others ail to see how that would have prevented the last recession and housing bubble bust.
     
  14. Earth Wind and Fire

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    Fail is a very common word in your vocab
     
  15. Revmitchell

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    Ok so you do not know how it would have prevented it?
     
  16. Earth Wind and Fire

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    Its sufficient to say, that Im not going to give you a detailed economic course .... look it up for yourself....your good at Googling right.
     
  17. Revmitchell

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    Well you made the claim, I am just trying to understand your reasoning. It doesn't look like you can back it up. Even by use of a short synopsis.
     
  18. Earth Wind and Fire

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    LOL....yea, whatever.....try the google.:smilewinkgrin:
     
  19. Bro. Curtis

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    How about the Franklin-Dodd act ? I consider that some pretty bigtime regulation.
     
  20. Earth Wind and Fire

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    Think you mean Dodd-Frank (Chris Dodd & Barnie Frank) .... unfortunately I dont think that went far enough but I really havent studied it enough....both those guys should be in prison from my prospective & Barnie in particular makes my skin crall.
     

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